Holde Agri Invest posts consolidated revenues of 117.5 million lei and a net profit of 11.4 million lei in 2022

Holde Agri Invest SA, a Romanian company that operates farmland, posts consolidated revenues of 117.5 million lei in 2022, an 87% increase compared to 2021, and an IFRS net profit of 11.4 million lei, a 29% increase compared to the 2022 budget estimates. During the past year, the company operated a total area of approximately 12,300 hectares, a 45% increase, of which 2,005 hectares were organic farming.

“Although last year was marked by a series of extraordinary events, with a significant impact on the agricultural sector as well, at Holde, we kept costs under control, and at the same time, we continued the investments projects, such as expanding the operated land areas, increasing the irrigated areas, the storage capacity, implementing a modern logistics system, increasing the fertility of the land and many others. The good financial results were based both on the operation of the harvest with a good average price per ton, the impact of the commercial strategy we used and which managed to capture the specifics of the year, but also the increase in productivity compared to the previous year, both in the organic and conventional crops, in an inferior year in terms of climate conditions. In our activity, it is important to invest constantly because only in this way can we target generous and healthy production volumes in the long term. Therefore, in 2023 and the following years, we will continue to invest in our farms by purchasing modern machinery, increasing storage capacities, and implementing irrigation systems”, stated Liviu Zagan, CEO of Holde Agri Invest.

In 2022, Holde Agri Invest carried out investments totaling 37.7 million lei, financed from own sources and borrowed capital, to modernize existing farms and expand operated land areas. These included the purchase of the Contesti farm in Dambovita county, with a total area of 2,100 ha of land and which became the fourth Holde core farm after Rosiori, Videle, and Frumusani, as well as the purchase of state-of-the-art machinery, the expansion of the irrigation system at the Frumusani farm, from 125 to 275 ha and the increase of the storage capacity at Calinesti, from 10,000 to 15,000 tons.

“External events, natural or economic, will always impact any business. However, for the effects caused by these events to be as low as possible, any company must know its priorities and where to direct its investments. Farming requires knowing how to cultivate the land optimally to be profitable as technology evolves, and we must keep up with this evolution. In addition, agricultural land cannot be operated at the highest quality standards without machinery, modern technologies, and efficient management systems. At Holde, we know exceptionally well the priorities and the level our business can reach. Moreover, considering Romania is operating the sixth largest agricultural area in the EU, Holde’s growth potential in this area is still huge “, stated Iulian Cîrciumaru, Chairman of the Board of Directors of Holde Agri Invest.

In addition to operational activity, in 2022, Holde’s management was also involved in preparing a new round of capital increase. The operation occurred in two stages, between June and August 2022. As a result, approximately 21 million lei were raised from investors, capital that the company will use to purchase new farms and modernize existing ones.

Holde Agri Invest shares are listed on the AeRO market of the Bucharest Stock Exchange as of October 1, 2020, and are traded under the HAI symbol. Currently, the company has a market capitalization of approximately 147 million lei.

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About Holde Agri Invest

Holde Agri Invest is a company initiated by a group of Romanian entrepreneurs to develop it to become a leader in agriculture in Romania. Founded in 2018, the company operates approximately 12,000 hectares of land, organized into four core farms – Roșiori farm located in Roșiori de Vede (Teleorman county), Frumușani (Călărași county), Videle (Teleorman county) and Conțești (Dâmbovița County). As of October 2020, Holde Agri Invest is a public company listed on the AeRO market of the Bucharest Stock Exchange with the stock symbol HAI, and as of October 2021, the company is included in the BET-AeRO index of BVB, having the second largest share.