The rapidly growing agri-food group Agrova Baltics AS Agrova Baltics (Nasdaq Baltic First North: EGG) delivered its strongest half-year financial results to date in the first half of 2026, with consolidated net revenue increasing by 51.7% to EUR 15.2 million, while profit more than doubled to EUR 3.95 million. Adjusted EBITDA increased by 96% to EUR 6.59 million, while the adjusted EBITDA margin rose from 33.5% to 43.4%, according to the Company’s published unaudited condensed consolidated interim financial statements.
At the same time, the volume of eggs sold increased by 34% to 79 million eggs, compared with 59 million eggs a year earlier. Growth was primarily driven by the full utilisation of production capacity created during the previous investment phase, higher sales volumes and a favourable market environment. Gross profit increased by 70.8% to EUR 7.3 million, while the gross profit margin rose to 48.1% from 42.7%.
At the same time, AS Agrova Baltics continued the implementation of its fifth investment phase, representing the next stage of production capacity expansion. The project at SIA Alūksnes putnu ferma includes the construction of three new laying hen houses with a total capacity of 375,000 birds, while a new pullet-rearing facility with capacity of up to 500,000 pullets per year is being developed in Preiļi. The investment programme is primarily focused on increasing cage-free egg production capacity and further strengthening the vertical integration of AS Agrova Baltics.
Jurijs Adamovičs, founder and Chairman of the Management Board of AS Agrova Baltics, commented: “The first half of 2026 demonstrates the contribution of our previous investment cycle. Importantly, profitability improved, with profit metrics growing faster than sales volumes, demonstrating the benefits of greater scale and higher capacity utilisation. Our next task is to continue converting this scale into sustainable profit and cash flow, while implementing the fifth investment phase and strengthening our presence in export markets.”
Management Board of AS Agrova Baltics
The shares of AS Agrova Baltics are admitted to trading on Nasdaq Baltic First North Market.
About AS Agrova Baltics |NASDAQ: EGG| (formerly AS APF Holdings) is a Latvia-based agri-foods holding company managing a vertically integrated group operating across poultry farming, egg production, and egg and egg-protein-based products.
Agrova Baltics Group is engaged in poultry farming, egg production and wholesale trading, as well as the processing of eggs into liquid and dry egg products and egg proteins, serving food industry and functional nutrition applications. In addition, Agrova Baltics develops biogas and organic fertilizer production linked to poultry farming processes.
Agrova Baltics Group’s portfolio includes SIA Alūksnes putnu ferma (poultry farming and egg production), SIA APF Trading (wholesale trading of eggs and egg products), SIA Oluksne (poultry farming and egg production services), SIA Agrova Energy (biogas and organic fertilizer production), and SIA Preiļu putni (pullet rearing).
Founded in 2017 with the objective of acquiring and developing a poultry business in Alūksne with a long operational history, Agrova Baltics has evolved into a fully integrated agri-foods platform. Today, the Agrova Baltics Group covers the entire value chain – from pullet rearing and egg production to the processing of eggs into value-added egg products and egg proteins, wholesale distribution, and the sustainable utilization of by-products for energy generation and organic fertilizer production.