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AVG: AB „Agrowill Group“ year 2011 and year 2012 net sales and net profit forecast was prepared for its inclusion to the prospectus of ordinary registered shares of the company

Spekuliantai.lt | 2011-06-01 | NASDAQ OMX biržų naujienos | perskaitė: 855
Raktiniai žodžiai: Agrowill Group AB, AVG
AVG: AB „Agrowill Group“ year 2011 and year 2012 net sales and net profit forecast was prepared for its inclusion to the prospectus of ordinary registered shares of the company

Agrowill Group AB Notification on material event 01.06.2011

AB „Agrowill Group“ year 2011 and year 2012 net sales and net profit forecast
was prepared for its inclusion to the prospectus of ordinary registered shares
of the company

AB „Agrowill Group“ announces 2011 and 2012 net sales and net profit forecast,
which was prepared for the purpose of its inclusion (and was actually included)
to the prospectus of ordinary registered shares of the company, dated 31 May
2011, prepared inter alia for public offering of shares of the company in the
Republic of Poland:

Net sales forecast year 2011 - 81,360 mln. LTL., year 2012 - 135,028 mln. LTL.

Net profit forecast year 2011 - 10,789 mln. LTL., year 2012 m. - 12,396 mln.
LTL.

The forecast is based on the assumption, that the group of companies, to which
AB „Agrowill Group“ belongs will increase the milking cow herd significantly
over two years and the average number of cows in 2012 will reach 4,500 (as of
the forecast compilation date the group had approximately 2,500 milking cows),
as well as that the company will restart cultivating 2,000 ha since September
2011.

Assumptions about factors, based on which the forecast was prepared, which are
primarily outside the group's management influence relate to: (i) market prices
for agricultural commodities for 2011 and 2012, as the group has no influence
on setting or controlling such prices; (ii) harvest yields for 2011 and 2012,
which depends on other operational factors such as fertilizer input, which
could be controlled by the group, but also depends on such factor as weather or
agricultural conditions, which is certainly beyond the group's control; (iii)
successful offering and listing of company's shares on the Warsaw Stock
Exchange which would allow to start the planned investments.

Furthermore, the compiled forecast is based on the following assumptions that
were used in order to avoid overstatement of the projected financial results:
(i) the prices for agricultural commodities are taken as of April 2011 and
benchmarked to MATIF futures; (ii) moderate growth in production yields was
assumed.

The forecast was audited by audit company HLB Sarnowski & Wiśniewski Sp. z
o.o., which report on the forecast is attached as annex to the prospectus as
well as to this announcement.

Taking into consideration the aforementioned purpose of drafting the forecast
as well as the indicated assumptions, based on which the forecast was prepared,
the company informs that this forecast would be deemed invalid in case the
offering of the company's shares would not happen in Poland.

Attached:

Auditor's report on the forecast.



Vladas Bagavičius

Chairman of the Board

+370 5 233 5340


1. HLB independent assurance report on Agrowill Group, AB 2011 05 31.pdf
(https://newsclient.omxgroup.com/cds/DisclosureAttachmentServlet?messageAttachmentId=352096)

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