"Auga group to carry forward loss of EUR 18.6 million

The financially troubled restructuring company „Auga group, one of the largest organic food producers in the Baltics, which last year made a net loss of EUR 8.5 million, 3.8 times less than the previous year, will carry forward the entire accumulated unallocated loss of EUR 18.6 million to the next year.

This decision was taken by the company's shareholders on Friday, „Nasdaq“ Vilnius Stock Exchange reported „Auga group“.

According to the group's draft profit and loss distribution, EUR 469 thousand has been allocated to cover the cost of employee stock options.

„Auga group“ earnings before interest, taxes, depreciation and amortisation (EBITDA) amounted to €9.99 million last year (€0.08 million in 2024), with revenues of €51.48 million, a decrease of 7% compared to the 2024 figure.

As BNS wrote, after the restructuring plan was approved by Auga Group's shareholders and creditors in August last year, it was also approved by the Vilnius Regional Court in September. By the end of 2029, „Auga Group“ expects to fully settle its financial obligations, reducing its debt from EUR 83.4 million to zero.

„Auga Group“ sold its mushroom business „Baltic Champs“ to the Latvian-owned Mhitaryjans family company „Global Champs“ for €8.46 million earlier this year. According to the announcement, the sale of this business reduced financial liabilities by EUR 11.6 million.