AS Agrova Baltics (EGG) H1 2026 earnings summary

Executive summary

• Revenue rose 51.7% to EUR 15.2M, adjusted EBITDA increased 96% to EUR 6.59M, and net profit reached EUR 3.951M.

• Egg sales volume increased 34% to 79M as production capacity reached full utilisation.

• Exports grew to 75% of egg sales volume from 54% in H1 2025, with broader reach across Baltic and other EU markets.

• Phase V investments are expanding cage-free production and internal pullet rearing, with planned capacity for 375,000 laying birds and 500,000 pullets annually.

• First-ever dividend was paid, yielding nearly 7% of the IPO price.

Financial highlights

• Revenue reached EUR 15.2M, up 51.7%; gross profit rose 70.8% to EUR 7.3M, and adjusted EBITDA increased 96% to EUR 6.59M.

• Net profit increased to EUR 3.951M from EUR 1.722M in H1 2025, despite a 30.6% rise in interest expenses.

• Gross margin rose to 48.1% from 42.7%; adjusted EBITDA margin increased to 43.4% from 33.5%.

• Total assets rose 34.9% to EUR 40.1M, while equity doubled to EUR 15.2M.

• Egg sales volume reached 79M, up 34% year-over-year.

Outlook and guidance

• H2 priorities include continuing Phase V construction, expanding cage-free and barn production, and broadening export markets across Europe.

• Long-term strategy targets sustainable-demand segments and higher value-added products.

• New product launches planned for Agrova and Fiteg², including new SKUs and food supplements.