East West Agro’s EBITDA fell by 3 per cent to €1.35 million in the first half of the year, whilst profit fell by a factor of 11

‘East West Agro’, a company specialising in the sale of agricultural machinery and grain storage equipment, earned €1.35 million in adjusted unaudited earnings before interest, taxes, depreciation and amortisation (EBITDA) in the first half of this year – 2.9 per cent less than in the same period last year, when it stood at €1.39 million.

The company’s sales revenue fell by 26 per cent to €15.71 million (€21.27 million), whilst net profit fell 11.2-fold to €0.09 million (€1.01 million), the company announced on Monday via the Nasdaq Vilnius Stock Exchange.

According to the company’s report, the agricultural sector remained stable in the first half of the year, although farmers’ investment decisions were influenced by agricultural produce prices, production costs and changing weather conditions.

„It is expected that actual harvest results and growing farmer confidence in the second half of the year will encourage more active investment decisions and create favourable conditions for the continued „East West Agro“ operations“,” the report states.

38.97 per cent of the company’s shares are held by Danas Šidlauskas, 39.69 per cent by Gediminas Kvietkauskas, 10.32 per cent by “Gesons”, 10.67 per cent – to other shareholders, and 0.36 per cent – to treasury shares acquired by the company.