Linas Agro Group-owned Dotnuva Baltic starts construction of a new agricultural trade and service center in Latvia

On 8 September 2023, SIA Dotnuva Baltic, an agricultural machinery trading company owned by AB Linas Agro Group, will place a symbolic capsule in the foundation of a new service center under construction in Jekabpils, Latvia. A large agricultural sales and service center, a modern agricultural machinery service workshop, and a spacious spare parts warehouse are expected to open in spring 2024. The planned investment amounts to EUR 2 million.

Currently, Dotnuva Baltic's branch in Jekabpils operates in rented premises. With the new center's opening, it is planned to expand the range of services in the new premises, thus strengthening Dotnuva Baltic's position in the Latgale region. The total area of the future trade and service center is 951 sqm. The increase in the size of the service area will allow up to 10 technical units to be serviced simultaneously instead of 4. Working conditions will also be improved, with 63 employees working for SIA Dotnuva Baltic, which was established in Latvia in 2010.

"The new branch in Jekabpils will become a service center for the entire Latgale region with a wide range of agricultural machinery and spare parts. We will be able to serve our customers faster and more conveniently and become a more attractive partner for farmers. Extending the spare parts warehouse will allow us to speed up the work and deliveries to farmers. Crucially, it will also improve working conditions for our employees. Today's widespread shortage of engineers is also felt in our companies, and we hope that we will be able to attract them more easily by having the modern center. By the way, this year, we are also expanding in Lithuania. At the end of September, we will invite you to the Farmers' Service Centre opening in Šiauliai," says Jonas Bakšys, CEO of UAB Dotnuva Baltic and Member of the Board of AB Linas Agro Group.

Three companies operate under the Dotnuva Baltic name in the Baltic States and have 16 Farmers' Service Centres, of which seven are in Lithuania, 5 in Latvia, and 4 in Estonia. The companies in Latvia and Estonia are subsidiaries of UAB Dotnuva Baltic, which has been operating in the Lithuanian agricultural machinery trade and service sector for more than 27 years and has 269 employees. In the financial year ended 30 June, Dotnuva Baltic's unaudited revenue amounted to EUR 137.6 million, earnings before interest, taxes, depreciation, and amortization (EBITDA) was EUR 5.6 million, and net profit amounted to EUR 3.6 million. SIA Dotnuva Baltic, operating in Latvia, had revenue of EUR 33.2 million, EBITDA of EUR 1.5 million, and net profit of EUR 1.0 million in the same period. 

In line with Linas Agro Group's sustainability policy, the new Dotnuva Baltic center in Jekabpils will use renewable energy sources, with heat pumps, solar panels on the roof of the building, and two charging stations for electric vehicles.

Dotnuva Baltic is one of the fastest-growing agricultural service companies in the Baltics. The company supplies agricultural machinery and equipment for grain storage and dairy farms. The same brands are represented in all Baltic countries - Case IH, Kverneland, Agrifac, Siloking, MacDon, Cimbria, BIN, Boumatic, and others.

AB Linas Agro Group owns the largest group of agricultural and food production companies in the Baltic States, employing almost 5 thousand people. The Group operates along the entire food production chain from field to fork, producing, processing, and marketing agricultural and food products and providing goods and services to farmers.

CFO of AB Linas Agro Group Mažvydas Šileika

Mob. +370 619 19 403

E-mail m.sileika@linasagro.lt

To view this piece of content from www.globenewswire.com, please give your consent at the top of this page.
To view this piece of content from ml-eu.globenewswire.com, please give your consent at the top of this page.