The group’s turnover grew 33% in 2020, to RON187 million.
Agroland said its EBITDA stood at RON14.21 million in 2020, nearly triple compared with 2019, and its EBITDA margin grew to 8% in 2020 from 4% in 2019.
The company intends to offer three free shares for each share owned in a capital increase whose size has yet to be determined, company manager Horia Cardos said.
The group consists of Agroland Business System SA, Agroland Agribusiness SRL, Agroland Professional Farm SRL, Agroland Megastore SRL and Magazinul Micului Fermier SRL.
The company’s plans for 2021 include the expansion of its store network with at least eight new Agroland Mega units, of which five have already opened or will open by March 18.
It targets expansion at a rate of 30-35 stores per year and 50% of sales generated by this segment. At the same time, the company plans to grow its online sales, which in 2020 quadrupled compared with 2019.
“For 2021 we target 50% growth and seek to become the largest player on the hobby farming segment and a top five position in pet care, gardening, and plant protection. Not least, we will use our online store to expand to neighboring markets: Hungary, Bulgaria, and Serbia,” said Cardos.
Cardos owns 76.5% of the group after a private placement in November 2020 that raised RON7.9 million. He previously owned 90% of the business.
Agroland shares started trading on the Bucharest Stock Exchange’s AeRO market on March 1, 2021.
Cardos said Agroland Agribusiness, which sells organic and conventional inputs for agriculture, would soon list shares and corporate bonds on the Romanian capital market.