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Ekosem-Agrar continues to expand its leading market position in the first nine months of 2018
Operating revenue (sales plus the change in inventories of finished goods and work in progress, changes in the value of agricultural and biological products and other operating income) rose by 58% to EUR 253.2 million in the first nine months of 2018 (previous year: EUR 253.2 million) € 160.7 million). Sales increased by 28% to EUR 160.1 million compared to the same period of the previous year (EUR 125.2 million). Earnings before interest, taxes, depreciation and amortization (EBITDA) amounted to € 63.2 million (previous year: € 53.8 million) despite high start-up investments in milk processing and a significant increase in personnel and material expenses as a result of operating growth a good 17% above the previous year's level. In terms of operating earnings (EBIT), these effects led to a slight decline of 5% to EUR 33.9 million.
As of September 30, 2018, the assets of the Group totaled just under € 1.2 billion (December 31, 2017: € 942.7 million). The reason for this increase is the construction of additional dairy cattle facilities to expand the herd and further expand raw milk production. At the end of September 2018, the total herd comprised around 128,560 animals, an increase of 32%. The strong growth of dairy herds by 27% to 57,060 animals contributed significantly to the increase of the daily milk yield from 1,090 tons to 1,400 tons. In total, more than 350,000 tonnes of raw milk were milked in the first nine months (full year 2017: 297,000 tonnes).
Ekosem-Agrar continues to expand its leading market position in the first nine months of 2018
- Significant increase in operating performance by 58% to € 253.2 million (previous year: € 160.7 million)
- Increase in sales of 28% to € 160.1 million (previous year: € 125.2 million) despite milk prices being well below the previous year's level
- EBITDA of € 63.2 million (previous year: € 53.8 million) and operating result of € 33.9 million (previous year: € 35.7 million)
Operating revenue (sales plus the change in inventories of finished goods and work in progress, changes in the value of agricultural and biological products and other operating income) rose by 58% to EUR 253.2 million in the first nine months of 2018 (previous year: EUR 253.2 million) € 160.7 million). Sales increased by 28% to EUR 160.1 million compared to the same period of the previous year (EUR 125.2 million). Earnings before interest, taxes, depreciation and amortization (EBITDA) amounted to € 63.2 million (previous year: € 53.8 million) despite high start-up investments in milk processing and a significant increase in personnel and material expenses as a result of operating growth a good 17% above the previous year's level. In terms of operating earnings (EBIT), these effects led to a slight decline of 5% to EUR 33.9 million.
As of September 30, 2018, the assets of the Group totaled just under € 1.2 billion (December 31, 2017: € 942.7 million). The reason for this increase is the construction of additional dairy cattle facilities to expand the herd and further expand raw milk production. At the end of September 2018, the total herd comprised around 128,560 animals, an increase of 32%. The strong growth of dairy herds by 27% to 57,060 animals contributed significantly to the increase of the daily milk yield from 1,090 tons to 1,400 tons. In total, more than 350,000 tonnes of raw milk were milked in the first nine months (full year 2017: 297,000 tonnes).