Trans-Oil Group (Aragvi Holding International Ltd.), the largest agro-industrial holding in Moldova, today announces its Operations Update for the six months ended 31 December 2020 – TRIBUNA reports.
– During 6M of FY2021, the Group reached strong revenues of 673.3 million USD, or an increase of 45.2% h-o-h on the back of foreign origination and marketing program started in Q1 FY2021. As a result of successful and efficient new origination and marketing program, which consists of origination and marketing in Black Sea region, Latin America, United States, East Mediterranean and Middle East, the Group succeeded to maintain a similar level of volumes in Origination and Marketing segment compared to 6M FY2020; despite of the challenging conditions caused by the drought that hit the region in 2020.
– The increase of 46.9% in Origination and Marketing segment revenues is largely due to the unprecedented spike in commodities prices on the international markets.
– Crushing and refining volumes have decreased by 24,5% in the first half of FY2021, compared to the same period of FY2020, as a result of the severe drought in the Black Sea region and shortage in sunflower seeds crop production, as a consequence. Nevertheless, Crushing and Refining segment revenues have increased by 24.6 million USD, due to strong rebound and spike in sunflower seeds and sunflower seed oil and meal prices.
CEO of Aragvi Holding International Vaja Jhashi commented: “During last 6M of 2020, our Group reached strong revenues of 673.3 million USD, or an increase of 45.2%
comparing to our result last year. We managed to achieve this impressive result despite the drought that hit the region and Moldova in 2020. We will continue to improve our crushing and refining segment in 2021, but we already see that our successful work in origination and marketing became a sustainable hedge against loss of revenue.”