DN AGRAR reports turnover of 127 million RON, up 9 percent in the first nine months

DN AGRAR Group, the largest integrated livestock farm in Romania, with cow milk production and vegetable production, ends the first 9 months of 2024 with a 9  percent increase in turnover, compared to the same period last year, reaching RON 127 million. The growth was driven by the rise in the number of livestock herds, leading to higher milk deliveries by 14 percent compared to 2023, and by operational efficiencies.

Jan Gijsbertus de Boer, Chairman of the Board, CEO, DN AGRAR Group SA: “Our approach to managing performance focuses on strategic investments, operational efficiency, and adaptability to market conditions. As such, in the first 9 months of the year, our turnover and EBITDA increased by 9 percent, respectively by 8 percent, compared with the similar period in 2023. At the heart of DN AGRAR’s operations is the commitment to sustainable farming practices as evidenced by the progress made in adopting technologies and in key strategic investments, including robot installations, the Straja farm, the compost factory, and the biomethane production project. With a strong foundation, we are confident in our ability to seize new opportunities, pursue acquisitions, and deliver maximum value to our partners.”

Key elements of the profit and loss account and balance sheet in the first 9 months of 2024:

• Operating revenues amounted to RON 193 million, an increase of 7 percent.
• Revenues from sold production totaled RON 126 million, up by 9 percent compared to the same period in 2023.
• Operating expenses amounted to RON 162 million, higher by 10 percent, driven by the revaluation of fixed assets in DN AGRAR’s farms and the rise in personnel expenses following the expansion of the activity.
• The net profit was RON 21 million, a decrease of 6 percent, influenced mainly by the evolution of the average milk price and the revaluation of fixed assets.
• The total assets reached RON 344 million, an advance of 12 percent compared to the end of 2023. Fixed assets were RON 236 million, an 11 percent advance, due to the registration as fixed assets of the young dairy cows that entered the milk production process and the acquisition of agricultural equipment. Current assets increased by 12 percent, following an advance of 22 percent in inventories.
• Long-term liabilities increased by 9 percent, reaching RON 188 million compared to the end of 2023.