In 2024 “Agrochema” group of companies received smaller revenue, but ended the year with a positive financial result

In 2024, the revenue of “Agrochema” group of companies amounted to 363.6 million euros, which is 14 percent less in comparison to 2023, when revenue reached 422.9 million euros. Last year, the net consolidated profit of the Group amounted to 714 thousand euros.

“The tense geopolitical situation prevailing in the world had and continues to have a significant impact on what at first glance seems to be local agribusiness in Lithuania. The high price of imported gas, necessary for the production of fertilizers, determined the high cost price of Lithuanian fertilizers, and the market continued to increase the number of fertilizers imported from third countries, the producers of which are not subject to pollution or carbon dioxide taxes which is a significant component of the price of fertilizers in the European Union,” explained Aurimas Lukoševičius, CEO of “Agrochema”.

He also emphasized that the grain market also experienced complications due to the geopolitical situation: Lithuanian grain in the world is already competing with cheap grain from Russia, Romania, even Argentina and Canada. Therefore, all of the previously listed reasons led to lower revenue than planned.

In 2024, the company continued to follow the strategy of being closer to customers, helping them obtain the greatest possible added value and ensure higher yields by using Lithuanian fertilizers and other agricultural products and services offered by the company.

“Last year, we continued to expand the e-commerce sector intensively. The increasingly popular online shop for gardeners in Lithuania generated twice as much revenue as in 2023, and over 2,000 farmers are already using the functionalities of the “Agrochema” self-service online shop. In 2024, an online shop for gardeners in Latvia was also launched,” shared A. Lukoševičius.

Last year, the company introduced to the market new micronutrient fertilizers for the farmers: organic mineral “IMUNO”, liquid “PK 30-10”, “MIKRO + JAVAMS” of updated composition and “NKS + AMINO”, created together with farmers, which won a gold medal in the “Lithuanian Product of the Year 2024” competition. New fertilizers were also created for gardeners and horticulturists – they were chlorine-free “Vegetable” and “Fruit and Shrub” fertilizers.

In 2025, “Agrochema” group of companies expects moderate growth and plans a turnover of 379 million euros.

“Agrochema” group of companies consists of UAB “Agrochema”, SIA “Agrochema Latvia” and “Agrochema Eesti” OU. The Group has been operating in the Baltic States for more than three decades; it manufactures liquid nitrogen fertilizers and is the leader of this market in Lithuania. The company also sells bulk nitrogen and other fertilizers, plant protection products, seeds, and garden products. The products of “Agrochema” can be purchased in 9 brand stores in Lithuania and 1 brand store in Latvia, as well as in two online stores www.eagrochema.lt and www.eagrochema.lv.

At the end of 2024, the Group had 358 employees.