Agria Group Holding

The falling grain prices in the last quarter of 2022 resulted in a negative EBITDA of BGN 1.9M, compared to a positive one of BGN 9.8M a year ago, after OPEX for the period was higher than revenues (BGN 226M versus BGN 224M respectively).

Cost of materials have increased by 117.7% YoY, amounting to BGN 204.8M, while interest expenses haven risen by 77.9% YoY to BGN 1.5M as the company was utilizing credit lines to finance its 2022 inventory. In spite of the Q4 headwind, Agria finished the year with an annual revenue of BGN 733.4M, up by 66.6% YoY, and a record EBITDA of BGN 92.4M, 121.4% YoY. Net income for the year is the best one since going public – BGN 78.2M, up by 242.6% YoY.