“The results for the first half of 2025 confirm the sound operational management of Grup Serban Holding, highlighted by an EBITDA margin superior to that recorded in H1/2024, even though absolute EBITDA was 28% lower compared to the same period of the previous year. In addition, current liquidity increased by 30%, further strengthening the company’s financial position,” the report shows.
EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) decreased by 28% to RON25.4 million, net profit plunged 54% to RON5 million and operating expenses fell by 13% to RON201.4 million year-over-year in January-June 2025.
“This year’s yields per hectare exceed both initial expectations and the results of previous years, with particularly notable performances in the vegetables segment – a priority growth area for GSH. Here, production has nearly doubled compared to last year, validating the investments made and the adopted strategy,” according to company representatives.
GSH shares have traded 3.5% lower so far in 2025, amid RON1.5 million liquidity on the AeRO market. The company, valued at roughly RON300 million, is 95.8%-owned by Serban Nicolae, Chairman of the Board of Directors..
“We are aware that the commissioning of these investments will bring an intense period, with pressure on both human and financial
resources. We estimate that it will take 1–2 years to consolidate a stable operational know-how and for the new lines to reach financial
maturity and an optimal level of utilization,” added company officials.