Agrochema Group’s consolidated revenue in 2020 amounted to EUR 357.1 million (it made EUR 355.9 million in 2019). The operating loss was replaced by a net consolidated profit of EUR 0.6 million (net consolidated loss in 2019 made EUR 2.4 million).
‘In 2020, despite the global pandemic and quarantine, Agrochema worked stably and intensively: We have smoothly supplied the farmers in the Baltic countries with nitrogen fertilizers and other goods required by the agricultural sector. Last year, we also started working on the company’s efficiency: In Lithuania, we merged UAB Agrochema and UAB Agrochema Plius, in Latvia two companies were also merged and now they are operating as one: SIA Agrochema Latvia,’ says Mindaugas Liaukonis, the CEO of Agrochema.
Since 1 October 2020, the Agrochema Group consists of UAB Agrochema, UAB Žemaitijos Grūdai, SIA Agrochema Latvia, and Agrochema Eesti OU. The Group has 432 employees.
In 2020, the sales of the main company of the Group, UAB Agrochema, increased by more than 11%: from EUR 304.9 million in 2019 to EUR 338.7 million in 2020. The sales of fertilizers and grain by UAB Agrochema also increased: by 11 percent and 5.5 percent, respectively.
‘Last year, nitrogen fertilizers sold in 2020 fed ¾ all agricultural crops grown in Lithuania. In 2020, we paid a lot of attention to increasing the efficiency of liquid nitrogen fertilizers, introduced liquid nitrogen fertilizers with increased sulphur content to the market, and added a line of organic fertilizers to the garden range,’ says the head of Agrochema.
In the agricultural sector, the year 2020 will be marked by its impressive harvest: farmers in Lithuania have grown as much as 34 percent more rapeseed and 16 percent more cereals compared to 2019. Lithuania is also becoming an important player in the grain market, exporting more and more grain every year. Agrochema sold almost 1 million tons of grain last year, and the main destinations for Agrochema’s grain were Nigeria, the Netherlands, Sudan, Algeria, Saudi Arabia and South Africa.
‘According to the latest crop declarations in the country, the area of winter cereals has increased by more than 20 thousand hectares compared to last year, so we can expect another good year for grain growers. ‘Agrochema will continue to ensure that farmers do not run out of nitrogen fertilizers, plant protection products, and can easily sell their crops,’ emphasises M. Liaukonis.
Agrochema Group has been operating in the agricultural sector for 27 years. The company trades in nitrogen fertilizers, plant protection products, seeds, garden and horticultural products, fuel and its additives. It also buys grain, offers the services of grain drying, cleaning, delivery, storage services and transportation to the port.
The Agrochema Group belongs to the UAB koncernas Achemos grupė, which manages over 40 companies operating in Lithuania, Latvia, Estonia, Poland, Germany, France, Belgium, Sweden, the Czech Republic and Croatia.