The AGROFERT Group´s consolidated revenues from the sale of goods, products and services amounted to CZK 155.3 billion (in 2015: CZK 165.9 billion). The Group´s unconsolidated revenues totaled CZK 226.5 billion (in 2015: CZK 240 billion). Compared to the previous year, the volume of the Group´s consolidated revenues decreased by CZK 10.6 billion.
The AGROFERT Group´s consolidated profit amounted to CZK 7,786 million in 2016, compared to the previous year´s CZK 8,614 million. EBITDA fell to CZK 14,717 million from CZK 15,987million recorded in 2015. Profit before taxes totaled CZK 9,291 million and the amount of income tax is CZK 1,505 million. The key factor in this decrease was the poorer performance of the chemical segment companies operating in the fertilizer production segment and the decline in commodity prices. The performance decline of German company SKW Stickstoffwerke Piesteritz GmbH had a significant impact on the year-to-year comparison. Companies operating in the agriculture segment also recorded worse results year on year. In contrast, Group companies operating in the food production segment enjoyed a successful year. Newly included companies only contributed to the Group´s results to a minor extent.
The (net) balance sum grew from CZK 119,926 million to CZK 132,897 million, representing an increase of roughly 10.8%. This is primarily due to tangible fixed asset growth totalling CZK 11,171 million, which chiefly comprises investments which were launched or ongoing in 2016. As a result of newly included companies, tangible fixed assets climbed by CZK 716 million. The total value of inventories dropped by CZK 719 million.
Receivables of the AGROFERT Group companies increased by a total of CZK 329 million. Development and replacement investments in tangible fixed assets (excluding assets gained through acquisition of new companies) amounted to a total of CZK 17.1 billion. On the liabilities side, current liabilities climbed by CZK 6,122 million. Most of this increase is the result of a CZK 6,639 million rise in bank loans to Group companies, from CZK 24,207 million to CZK 30,846 million, in the form of long-term bank loans to cover ongoing tangible fixed asset investments.
The AGROFERT Group´s most significant investment was the ongoing construction of the ammonium production unit in the Slovak company Duslo. The Group companies operating in the food production segment invested heavily in new bakeries in the Czech Republic and Germany. Significant investments are being carried out in the new fertiliser plant in Lovochemie and in in the ammonium and fertiliser production in German company SKW Stickstoffwerke Piesteritz. PREOL started production of extruded rapeseed meal and NT Group, Hungarian producer of vegetable oils, invested in the packaging line. AGROFERT Group´s companies operating in the agricultural segment invested the amount of CZK 300 million in the purchase of agriculture land. These Group companies currently manage 119 thousand hectares of agricultural land in the Czech Republic (of which 84 % is leased). In the Slovak Republic the primary production companies bought the agricultural land for CZK 35 million and they manage here the total of 20 thousand hectares of agriculture land. Last year the Group focused, in particular, on the acquisitions in the primary agriculture production segment and the following companies were acquired: Lužanská zemědělská, AGRODRUŽSTVO Kačice, AGROPARKL, ZEMSPOL Kyjov and FARMA VESELKA. Furthermore, the Slovak bakery company PEZA and the design and engineering company CENTROPROJEKT GROUP were acquired. In terms of development, the Group intends to invest into ecological improvement, the energy sector and in production capacity increases.
The AGROFERT Group employed nearly 33 thousand people in 2016, of which more than 22 thousand were employed in the Czech Republic.