BVB-listed Agroland announces 21% stronger business in Q1

Agroland Business System (BVB: AG), Romanian retail, agriculture, and food group that has the largest network of agricultural stores in Romania, posted consolidated revenues of RON 66.8 mln [EUR 13 mln] in Q1 2022, 21% more compared to the same period last year, and a net profit of RON 1.6 mln [EUR 0.32 mln] - 31% higher compared to the first quarter of 2021.

“We are thrilled that we opened three new MEGA stores in Pașcani, Huși, and Timisoara, our home market, increasing the total number of stores to 19 locations. For 2022, our goal is to reach 25 MEGA stores, which we estimate will reach maturity by 2024,” said Horia Cardoș, founder and CEO of Agroland Business System.

Starting with 2020, Agroland upgraded the business model, opting to increase the areas of stores operated by the company, supported by the expansion of the range of products sold. In this context, the visibility and attractiveness of Agroland stores have constantly increased.

Agroland Business System was founded in 2009 in Timișoara by the entrepreneur Horia Cardoș as a limited liability company, having as its object of activity the retail trade in specialized stores with products for the garden, farm, and pets.

The Agroland company started its activity by selling products for small farmers, from fodder, equipment, and one-day-old chick, becoming today the largest supplier for the hobby farming area.

As the regular customer lives in rural areas or the vicinity of cities, the natural decision of the company was to sell products for the garden (rose cuttings, shrubs, fruit trees, vegetable seeds and flower bulbs, fertilizers, equipment, and tools) and pets (food, supplements, toys, and accessories for dogs, cats, animals, and exotic birds). The result was both an expansion of the range of products in stores and the expansion of customers to families who were not passionate about farming as a hobby.

(Photo source: Agroland)