The income of Linas Agro Group, AB, one of the biggest groups of
companies
engaged in the agricultural business in the Baltic countries, stood
at LTL
554.35 million in the first six months of the financial year while the
net
profit was LTL 25.7 million. 

According to the unaudited data, the net
profit of the company, the financial
year of which starts on the 1st of July,
grew by 30% in July-December 2009 as
compared to the corresponding period in
2008 when it stood at LTL 19.8 million. 

Unaudited Linas Agro Group, AB,
sales income totalled to LTL 554.35 million in
the first six months of the
financial year of 2009/2010 and were by 26% lower
as compared to the
corresponding period in 2008/2009 (LTL 749.79 million). The
company's profit
before interest, taxes, depreciation and amortization (EBITDA)
stood at LTL 38
million and was by 5% higher as compared to the same period
last year. 

In
the first half of 2009/2010 financial year the company increased volumes
of
sold production: 818 thousand tons were sold in July-December 2009, which
was
by 6% more as compared to 2008. Sales volumes grew in all main
company's
markets that include Western Europe, Scandinavian countries,
Lithuania and
Asian countries. 

“The rise in the company's profit was
determined by higher sales volumes as
well as lower interest expenditure;
meanwhile the income was influenced by
lower grain prices on Lithuania's as
well as worldwide markets since 59% of
income were received from the trade of
grain and oilseeds, “ - Linas Agro
Group, AB Finance Director Tomas Tumėnas
says. 

According to the preliminary data of the Department of Statistics,
grain
purchase prices decreased by 38.9% in 2009. 

At the moment, Linas
Agro Group, AB is launching the initial public offering,
during which
investors will be offered over 55.6 million of the company's
shares i.e. 35%
of the authorised capital of the company. The raised capital
will be deployed
for further development and increase of export volumes of
Linas Agro Group,
AB. 

The initial public offering takes place from the 25th of January till
the 5th
of February. The price range of the offer varies from LTL 2.05 to LTL
2.53 per
share. Trading of the shares of Linas Agro Group on the stock
exchange is
planned to commence on the 17th of February. 

The initial
public offering takes place in Lithuania and Estonia, the shares
are also
offered to institutional investors in the Baltic States, Nordic
countries,
Western Europe, UK and US. Swedbank is the lead manager and
book-runner of the
initial public offering of the shares of Linas Agro Group. 


About Linas
Agro Group, AB

Linas Agro Group, AB is a group of Lithuanian capital
companies engaged in
international agricultural business, production and trade
in agricultural
produce and raw materials. It controls companies in Lithuania,
Latvia and
Denmark. The Group consists of the following companies: Linas Agro,
AB, a
Lithuanian company engaged in international trade in agricultural
plant
produce; Linas Agro, UAB controlling grain storages; Grūdų centras,
KŪB
(controlling grain storages in Kėdainiai, Kupiškis, Joniškis, Šiauliai
and
Vilkaviškis), grain trade company in Latvia - Linas Agro, SIA;
international
trade company in Denmark - Rosenkrantz A/S; Landvesta, ŽŪB, a
group of
companies controlling agricultural land; and Linas Agro
Konsultacijos, UAB
controlling agricultural companies. Financial year of the
companies starts on
the 1st of July. According to the data of the financial
year of 2008-2009, the
company receives 55% of income from the trade of grain
as well as oilseeds
while 29% of income is gained from the trade of feed raw
materials. 


More information:

Tomas Tumėnas
Linas Agro, AB Finance
Director
Mob. +370 682 36616
Email  t.tumenas@linasagro.lt