AgroGeneration ended H1 with a loss of 1.2 billion euros
2012-10-30 15:48:26
French company AgroGeneration ended first fiscal half of the year with a net loss of 1.2 billion euros, while in 2011 the company finished H1 with a profit of 2.19 billion euros.
This is stated in the company's report, posted its website.
Company's revenue increased 6.4 times - up to 10.256 billion euros, in comparison with 1.6 billion euros in June 30, 2011.
Company information. AgroGeneration was founded in 2007 and specializes in growing grains and oilseeds.
In 2010, the company's land bank in the western regions of Ukraine amounted to 45 hectares, and the company aims to increase it to 100 hectares by the end of 2012.
In the spring of 2010, during the private placement, AgroGeneration raised 14,5 million euro on NYSE Euronext, followed in 2011 by IPO and raising 12.7 million euros for company development.
In June 2012 AgroGeneration launched initial public debut bond issue of 15 million euros, planning to spend raised funds on expansion of its activities.
In September 2012 AgroGeneration increased early grains harvest by 28% - up to 112.32 thousand tons compared to last year.