Holde Agri Invest posts solid revenue growth and a significant increase in EBITDA in the first nine months of 2025

Holde Agri Invest SA, one of the largest farmland operators in Romania, posts total revenues of 96.2 million lei in the first nine months of 2025, a 20% increase compared to the previous year. During the same period, the company recorded EBITDA of 19.2 million lei, up 548% versus the first nine months of 2024, while the net loss decreased to 2 million lei, compared to a loss of 16.1 million lei in the previous year.

“The results recorded in the first nine months of the year confirm Holde Agri Invest’s transition toward a phase of operational and financial stabilization after the major challenges of the previous year. This year’s agricultural outputs have significantly exceeded the 2024 levels, and the efficiency measures we implemented, such as reducing input costs, optimizing operational organization, and tightening cost control, are directly reflected in the improvement of EBITDA and in the reduction of the net loss. Through rigorous financial management, a more structured way of working, and strong agricultural production, we are confident that 2025 will mark a consolidation phase for the company, creating solid premises for the years ahead,” stated Bogdan Serghiescu, CEO of Holde Agri Invest.

In the first nine months of 2025, Holde Agri Invest operated a total of 16,029 hectares, of which 1,722 hectares were organic, across the company’s five operational hubs: Roșiori, Frumușani, Videle, Conțești and Salcia. In the 2024–2025 agricultural year, the farms in Holde’s portfolio cultivated conventional wheat, rapeseed, sunflower, corn, peas, potatoes, sugar beet, barley and two-row barley, as well as organic wheat, peas and sunflower.

The crops for the 2024–2025 agricultural year generated a total volume of 80,569 tons, up 56% compared to the previous year, an evolution supported by much more favorable weather conditions. Of this volume, 3,811 tons were organic crops, a 50% increase compared to 2024. This positive development is also reflected in the average yields per hectare, with conventional crops reaching 5.37 tons/ha compared to 3.12 tons/ha in the previous agricultural year, while organic yields increased from 1.60 tons/ha in 2024 to 2.21 tons/ha in 2025.

“The first nine months of this year show a much more coherent operational performance at Holde, with better-coordinated processes and a more careful use of resources. The significant harvests obtained in 2025 allow us to have a clear outlook on the year-end financial results and to adjust expectations in a realistic manner. For the full year 2025, we expect operating revenues between 110 and 115 million lei and EBITDA in the range of 18 to 22 million lei. Although these estimates are below the budgeted figures for 2025, due to lower selling prices, this year’s evolution represents an important step towards the recovery of Holde’s operations. At the same time, we remain attentive to market conditions and prepared to adjust our commercial and financial policies in order to support the company’s performance,” stated Iulian Cîrciumaru, Chairman of the Board of Directors of Holde Agri Invest.

Holde Agri Invest shares have been listed on the AeRO market of the Bucharest Stock Exchange since October 1, 2020, and are traded under the ticker symbol HAI.

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About Holde Agri Invest

Holde Agri Invest is a company founded by a group of Romanian entrepreneurs with the objective of developing it into a leader in the agricultural sector in Romania. Established in 2018, the company operates over 16,000 hectares of farmland, organized into five core farms – Roșiori farm located in Roșiori de Vede (Teleorman County), Frumușani (Călărași County), Videle (Teleorman County), Conțești (Dâmbovița County), and Salcia (Brăila County). Since October 2020, Holde Agri Invest has been a listed company on the AeRO market of the Bucharest Stock Exchange, under the ticker symbol HAI, and since October 2021, it has been included in the BVB’s BET-AeRO index.