Agrofert Holding: sales and profit down in 2009

Prague / CZ. (div) In 2009 Czech Agrofert Holding saw consolidated sales fall by 15 percent to 85,89 billion Czech Crowns (CZK) and its net profit dropped by 700 million CZK to 3,73 billion CZK, group owner Andrej Babis told local newspapers. The group is active in agriculture and the food and chemical industries. The consolidated statement of accounts comprises results of 203 companies.

Agrofert´s unconsolidated sales decreased to 119,08 billion CZK (2008: 138,57 billion CZK). The holding´s companies owed 20,96 billion CZK last year; 1,17 billion CZK less than 2008. The Holding joint-stock company, which stands at the helm of the group, saw its profit fall by 1,44 billion CZK to 5,39 billion CZK.

Agrofert last year strengthened its number one position in the domestic agricultural and food sector. It completed the acquisition of the Czech Agropol Group. At the beginning of 2009, the Holding acquired Olma, the second biggest Czech dairy. The group also consists of Penam A.S., the second biggest Czech bakery, and Kostelecke uzeniny, the biggest Czech meat processor. Preol, another unit of the group, last year opened a plant producing rapeseed oil methylester (Mero), which is used as biocomponent for diesel oil. Preol intends to occupy one third to 40 percent of the Czech Mero market this year. The group has approximately 25’000 employees.