The new 2025 consolidated budget includes net revenue of RON215 million to RON225 million, above the RON211.5 million announced in March.
DN Agrar also expects RON93 million to RON97 million EBITDA, compared with RON88.6 million as initially estimated. The most spectacular change is expected for the net profit, RON48 million to RON52 million, up to 34% higher than the RON38.3 million announced in the spring.
The management says the revised expectations are because of a number of factors: milk production is projected to increase by 10% in 2024, a trajectory confirmed by the results for the first eight months, which show a 9.4% increase, average milk price in 2025 was estimated based on the average recorded in the first nine months, the new compost factory at the Apold farm should generate additional revenue by selling about 3,500 tons of compost, subject to obtaining the necessary certification.
There are also some challenges, which will partly affect the results: adverse climate conditions expected to reduce in-house crop yields, resulting in higher feed costs as external purchases are needed to compensate for lower internal production, the recalculation of production costs in the fourth quarter, reflecting the lower yields per hectare caused by the unfavorable climate.
The third-quarter performance will be broadly in line with the second quarter and fourth-quarter results remaining positive, but at a more moderate pace.
DN AGRAR maintains a positive outlook for the second half of 2025, with annual results higher than the budget figures published in March 2025.
(English version by Loredana Fratila-Cristescu)