One of the largest agricultural investment companies in the Baltics, „Auga Group“, which made a loss last year, will not pay dividends this year.

„Auga Group“ shareholders decided on Thursday to carry forward EUR 2.8 million of the EUR 3.2 million profit for distribution and to allocate the remaining EUR 400,000 to a reserve for employee shares, the company announced on the Vilnius Stock Exchange via „Nasdaq“.

The group posted a net loss of €18.45 million last year (€5.35 million in 2022 –) and generated revenues of €81.41 million – a 2% increase on the previous year. According to the company, this was due to a fall in the purchase prices of organic produce.

Shareholders also decided to increase the share capital by 0.9% to €67.845 million.

At the end of 2023, 55.67% of „Auga Group“ shares were held by „Baltic Champs Group“, controlled by entrepreneur Kęstutis Jušius, 8.55% by „the European Bank for Reconstruction and Development– 6.87% by „Žilvinas Marcinkevičius; 29.91% by „other minority shareholders.

„Auga Group“ shares are listed on the Official List of the Vilnius Stock Exchange.