Agroton reports USD 57.3 mln in sales revenue for 2010

Agroton (WSE: AGT PW) reported its annual audited IFRS financials for 2010 yesterday. Sales revenue amounted to USD 57.3 mln (up 3.5% y-o-y) while total revenue which includes gains from biological asset revaluation grew to USD 97.1 mln (up 27.6% y-o-y). EBITDA rose to USD 35.1 mln (up 65% y-o-y) and net income tripled to USD 15.7 mln in 2010 from USD 5.1 in 2009, while CFO resulted below the line of USD 1.9 mln vs. USD 0.6 mln positive cash flow in 2009. Management attributed the increase in profitability primarily to the rise in domestic prices for sunflower and wheat.