The strategic investments made previously, including in automating processes within the farms, supported the increase in milk production by 18% in the first quarter and the production costs optimization, directly impacting the company’s financial results.
„DN AGRAR achieved notable accomplishments in the first quarter of the year, both operationally, financially and strategically. The main achievements include the approval of financing for the Straja farm, which will support the doubling of the business over the next four years, the inclusion of DN AGRAR’s shares in the MSCI indices, and the continued growth rate in milk deliveries, with over 5 million liters per month. The main investment project of DN AGRAR for the period 2024-2027 is the new Straja farm, thus we focused on finalizing the plans for the financing of the project which was approved in March 2024 by DN AGRAR’s shareholders,” stated Jan G. de Boer, DN Agrar CEO.
In Q1/2024, operating revenues amounted to RON60 million, roughly at the same level as in the first quarter of 2023.
Operating expenses experienced a slight increase of 3% in the first quarter of 2024 compared to the same period in 2023, reaching RON48 million.
Total assets reached RON316 million, up 3% from end-2023. At the same time, total liabilities were flat from the end of 2023.
N AGRAR Group, consisting of 13 companies, including four farms specialized in dairy cattle breeding and cow milk production, has integrated activities, including logistics and transportation services for cow milk, nationally and in Europe. In the field of cereals, the group cultivates over 7,000 hectares of cereals and fodder, primarily to provide food for more than 14,000 animals within DN AGRAR Group’s farms.
(English version by Catalina Apostoiu)