Its turnover stood at RON481.6 million in 2021, up 55% on the year, and its EBITDA reached RON54.2 million, up 3% versus 2020, as per data from company representatives.
By business lines, on the vegetal production and trade segment, Grup Serban had a turnover of RON397 million in 2021, up 79% from 2020, and an EBITDA of RON37 million. The main income was generated by oilseeds, high oleic sunflower, and sustainable rapeseed. Within the poultry farm where the company owns five farms in three locations in Bacau and Vaslui counties, with a capacity of 880,000 heads per series, Grup Serban recorded a turnover of RON63.7 million, up 27% from 2020, and an EBITDA of RON4.9 million.
The bakery, pastry, and confectionery business line, under which Grup Serban operates a bakery, a confectionery laboratory, and five stores under the Bacania Serban brand, had a turnover of RON47.1 million, up 59% from 2020, due to streamlined production and increased volumes sold through retail chains.
“The results recorded in 2021 confirm our strategic vision for all business lines within the Grup Șerban Holding. In the vegetal sector, we operated a total area of 10,089 hectares, of which over 1,000 ha were irrigated, and we obtained a total production of 58,873 tons of grains, of which 19,551 tons of corn, 8,843 tons of wheat, 8,598 tons of barley, 5,300 tons of high oleic sunflower. During the year, we traded a volume of 257,707 tons of cereals and oil plants, managing to efficiently use the 133,000 tons of storage space. Regarding the bakery products, the volumes made on total assortments exceeded 5,000 tons, the specialties with multigrain weighting 54.1%. Chicken production exceeded 7,250 tons. All these results validate, once again, the partnerships we have with the beneficiaries of the products made by Grup Șerban Holding: PepsiCo, Cargill, Agricola International, Lidl, Nutriva, Fermador,” stated Nicolae Șerban, Chairman of the Board of Grup Șerban Holding.
For the agricultural year 2021-2022, Grup Serban plans to continue converting an area of 6-7,000 ha into a no-till system (without disturbing the soil by processing). Through this system, the company aims to increase large crop areas in a system without plowing, with a low cost of chemical fertilizers, improving soil quality, increasing operating income, and reducing operating costs with a positive impact on the growth of EBITDA.
In 2022, the group will continue its investments in streamlining the activity within the poultry farm, having ongoing projects with photovoltaic power plants with an installed capacity of 400kWh. Once commissioned, they will provide 21% of the electricity needed by the poultry farms. In addition, once the European funds’ projects are approved, Grup Serban will start an investment process of 4 million euros, which will ensure the doubling of vegetable storage capacities and their processing and conditioning.
“In 2022, we will continue the development projects of all the businesses within the holding company. (…) In addition to the planned investments, we also consider projects aimed at increasing the cultivated areas and the grain storage spaces,” stated Ovidiu Bucataru, Chief Financial Officer of Grup Serban Holding.
Grup Șerban Holding shares have been listed on the AeRO market of the Bucharest Stock Exchange since February 28, 2022, and are traded under the GSH symbol. Currently, the company has a market capitalization of over RON340 million.