Agrochema Group’s results for 2023 announced

In 2023, the Agrochema Group’s revenues amounted to €422.9 million, a decrease of 17.6% compared to sales revenues of €512.9 million in 2022. The Group’s consolidated net loss in 2023 amounted to €285.6 thousand.

“Last year was notable in the agricultural sector for a dry and later spring, as well as a change in farmers’ behaviour, both in terms of fertiliser purchases and grain sales. The biggest impact on the Group’s sales was the fall in fertiliser prices, lower grain buying and selling prices, and lower use of crop protection products on the market,” said Aurimas Lukoševičius, CEO of Agrochema.

Despite the overall decline in demand for agribusiness goods in 2023, Agrochema Group sold 7% more fertilisers than in 2022 and exported 1.75 times more grain. The main destinations for grain exports were African countries, Indonesia, Saudi Arabia and Europe.

In 2023, the company continued to invest in sustainable business solutions: solar power plants were installed at the units, which generate around 30% of the company’s electricity consumption, investments were made in liquid fertiliser sales infrastructure and Lithuania’s first automated self-service fertiliser dispenser. Last year, the company opened Lithuania’s first e-shop for farmers, selling agricultural products for professional use.

The Agrochema Group plans a turnover of €424.3 million in 2024.