Grup Şerban Holding: Revenues and Profit Down

Grup Şerban Holding (GSH), a company active in several agricultural sectors, reported consolidated operating revenues of 215.2 million lei for the first six months of the year, 16% lower than those recorded in January-June 2024, while net profit amounted to about five million lei, down 54% compared to the result in the first half of last year, according to the issuer's report published yesterday on the Bucharest Stock Exchange (BVB) website.

Irina and Nicolae Şerban, founders of Grup Şerban Holding, said: "At the midpoint of 2025, the situation of Grup Şerban Holding looks encouraging, both for the company and for the agricultural sector in our region (...). This year's yields per hectare exceed both the initial expectations and the results of previous years, with remarkable performances in the vegetable segment - a priority direction for GSH's development. Here, production has almost doubled compared to last year, which validates the investments and strategy adopted.”

According to the two founders, the major projects launched two years ago - cold storage and vegetable packaging - are now fully operational. "Moreover, we continue to strengthen the value chain through the strategic potato processing project, for which we have signed AFIR funding under the Investalim program. Although works have not yet begun, we are in advanced discussions with strategic investors to ensure the success of this large-scale project and to reach the assumed EBITDA levels, to the benefit of the company and its shareholders,” the report states.

The EBITDA indicator reached 25.4 million lei in the first six months of the year, down 28% compared to the first half of last year. For this year, Grup Şerban Holding has budgeted a net profit of 16.2 million lei, while EBITDA is estimated at 68 million lei.

Operating expenses amounted to 201.9 million lei in the first half of this year, 13% lower than in the same period of 2024. Merchandise expenses were 112.5 million lei, down 30% compared to the first six months of last year, while expenses for raw materials and supplies were 26.8 million lei, up 23%.

The group's internal structure is integrated and includes the following business lines: agribusiness (crop cultivation and trading of grains, oilseeds, and vegetables); animal husbandry (cattle and sheep farming for meat); bakery (confectionery, pastry, catering); and services (distribution and transport).

Grup Şerban Holding is listed on the AeRO Market of the Bucharest Stock Exchange, but share liquidity is low, despite a capitalization of about 300 million lei, as its free float is very limited, with Nicolae Şerban holding nearly 96% of GSH.