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AUGA group Interim / Quarterly Report 2017

May 31, 2017

2259_10-q_2017-05-31_97580c26-77e9-4b9f-96d0-68b9afed1dde.pdf

Interim / Quarterly Report

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AUGA GROUP AB

Consolidated Unaudited Interim Results and Consolidated Financial Information for 3 months ended 31 March 2017

I. GENERAL PROVISIONS3
Accounting period covered by the Report 3
Key data on the issuer3
Information on where and when the Report and the documents, on which the Report is based, are publicly
available and the name of the mass media means 17
II. INFORMATION ABOUT THE LARGEST SHAREHOLDERS AND ISSUERS MANAGEMENT 18
Share capital18
Shareholders 18
The sales of the Issuer's securities on exchanges and other organized markets 18
Agreements with the mediators of securities public circulation18
Procedure for amendments of the Articles of Association 18
Members of the managing bodies 19
III. FINANCIAL INFORMATION20
Consolidated income statement20
Consolidated statement of comprehensive income 20
Consolidated balance sheet 21
Consolidated statement of changes in equity 22
Consolidated statement of cash flows22
Comments to the Financial Information25
IV. THE NEWEST AND ESSENTIAL EVENTS IN THE ACTIVITY OF THE ISSUER 34
The newest events in the activity of the Issuer 34

INTERIM REPORT

(All amounts are in EUR thousand, unless otherwise stated)

I. GENERAL PROVISIONS

Accounting period covered by the Report

The report covers 3 month period ended 31 March 2017.

Key data on the issuer

Name of the company: AUGA group AB (hereinafter – AG or the Company) Share capital: EUR 54,350,713.08 Address of headquarters: Konstitucijos av. 21C, Quadrum North, LT-08130, Vilnius, Lithuania Telephone: (8~5) 233 53 40 Fax: (8~5) 233 53 45 E-mail address: [email protected] Website: www.auga.lt Legal-organizational form: Legal body, joint stock company Place and date of registration: 25 June 2003, Vilnius Register code: 1262 64360 Register number: AB2003-926 Registrant of the Register of legal bodies: State Enterprise Centre of registers

As at 31 March 2017 the Group was comprised of the Company and it's subsidiaries:

Name Legal form Date and
place of
registration		 Company
code		 Address Phone, fax and
e-mail
UAB Baltic Champs Joint stock
company		 27-12-2012, State
Registrar		 302942064 Poviliškės, Šiauliai distr. (8~5) 233 53 40;
fax: (8~5) 233 53 45,
e-mail: [email protected]
UAB AVG Investment Joint stock
company		 10-02-2005, State
Registrar		 300087691 Vilniaus m. sav. Vilniaus m.
Konstitucijos pr. 21C		 (8~5) 233 53 40;
fax: (8~5) 233 53 45,
e-mail: [email protected]
UAB AWG Investment 1 Joint stock
company		 18-06-2008, State
Registrar		 301745765 Vilniaus m. sav. Vilniaus m.
Konstitucijos pr. 21C		 (8~5) 233 53 40;
fax: (8~5) 233 53 45,
e-mail: [email protected]
UAB AWG Investment 2 Joint stock
company		 24-07-2008, State
Register		 301807590 Vilniaus m. sav. Vilniaus m.
Konstitucijos pr. 21C		 (8~5) 233 53 40;
fax: (8~5) 233 53 45,
e-mail: [email protected]
UAB Agross Joint stock 24-07-2008, State 301807601 Jonavos r. sav. Bukonių k. (8~5) 233 53 40;
company Register Lankesos g. 1 fax: (8~5) 233 53 45,
e-mail: [email protected]
UAB Grain Lt Joint stock
company		 17-03-2010, State
Register		 302489354 Vilniaus m. sav. Vilniaus m.
Konstitucijos pr. 21C		 (8~5) 233 53 40;
fax: (8~5) 233 53 45,
e-mail: [email protected]
UAB AMT Žemė Joint stock
company		 15-03-2011, State
Register		 302602713 Smolensko st. 10, Vilnius (8~5) 233 53 40;
fax: (8~5) 233 53 45,
e-mail: [email protected]

INTERIM REPORT

UAB Agro GIS Joint stock
company		 18-01-2011, State
Register		 302583978 Vilniaus m. sav. Vilniaus m.
Konstitucijos pr. 21C		 (8~5) 233 53 40;
fax: (8~5) 233 53 45,
e-mail: [email protected]
UAB Agro Management
Team		 Joint stock
company		 02-03-2011, State
Register		 302599498 Jonavos r. sav. Bukonių k.
Lankesos g. 1		 (8~5) 233 53 40;
fax: (8~5) 233 53 45,
e-mail: [email protected]
UAB Agrotechnikos
centras		 Joint stock
company		 03-02-2011, State
Register		 302589187 Jonavos r. sav. Bukonių k.
Lankesos g. 1		 (8~5) 233 53 40;
fax: (8~5) 233 53 45,
e-mail: [email protected]
UAB AUGA Trade Joint stock
company		 29-02-2012, State
Registrar		 302753875 Jonavos r. sav. Bukonių k.
Lankesos g. 1		 (8~5) 233 53 40;
fax: (8~5) 233 53 45,
e-mail: [email protected]
ŽŪB Žemės fondas Agricultural
entity		 07-04-2006, State
Register		 300558595 Vilniaus m. sav. Vilniaus m.
Konstitucijos pr. 21C		 (8~5) 233 53 40;
fax: (8~5) 233 53 45,
e-mail: [email protected]
UAB Žemės vystymo
fondas 6		 Joint stock
company		 10-08-2006, State
Registrar		 300589719 Jonavos r. sav. Bukonių k.
Lankesos g. 1		 (8~5) 233 53 40;
fax: (8~5) 233 53 45,
e-mail: [email protected]
UAB Žemės vystymo Joint stock 09-03-2006, State 300547638 Jonavos r. sav. Bukonių k. (8~5) 233 53 40;
fondas 9 company Registrar Lankesos g. 1 fax: (8~5) 233 53 45,
e-mail: [email protected]
UAB Žemės vystymo
fondas 10		 Joint stock 10-01-2008, State
Registrar		 301522723 Jonavos r. sav. Bukonių k.
Lankesos g. 1		 (8~5) 233 53 40;
company fax: (8~5) 233 53 45,
e-mail: [email protected]
UAB Žemės vystymo
fondas 20		 Joint stock
company		 22-06-2007, State
Registrar		 300887726 Jonavos r. sav. Bukonių k.
Lankesos g. 1		 (8~5) 233 53 40;
fax: (8~5) 233 53 45,
e-mail: [email protected]
ŽŪB AUGA Spindulys Agricultural
entity		 09-04-1993,
Radviliškis district
municipality		 171330414 Radviliškio r. sav. Vaitiekūnų k.
Spindulio g. 13		 (8~5) 233 53 40;
fax: (8~5) 233 53 45,

e-mail: [email protected]

INTERIM REPORT

(All amounts are in EUR thousand, unless otherwise stated)
ŽŪB AUGA Smilgiai Agricultural
entity		 16-09-1992,
Panevėžys district
municipality		 168548972 Panevėžys st. 23, Smilgiai,
Smilgiai mun., LT-38375		 (8~5) 233 53 40;
fax: (8~5) 233 53 45,
e-mail: [email protected]
ŽŪB AUGA Skėmiai Agricultural
entity		 01-10-1992,
Radviliškis district
municipality		 171306071 Radviliškio r. sav. Skėmių k.
Kėdainių g. 36		 (8~5) 233 53 40;
fax: (8~5) 233 53 45,
e-mail: [email protected]
ŽŪB AUGA Nausodė Agricultural
entity		 11-08-1992,
Anykščiai district
municipality		 154179675 Anykščių r. sav. Kirmėlių k. (8~5) 233 53 40;
fax: (8~5) 233 53 45,
e-mail: [email protected]
ŽŪB AUGA Dumšiškės Agricultural
entity		 29-09-1992, LR
Raseiniai district
board		 172276179 Raseinių r. sav. Paraseinio k. (8~5) 233 53 40;
fax: (8~5) 233 53 45,
e-mail: [email protected]
ŽŪB AUGA Žadžiūnai Agricultural
entity		 30-06-1992,
Šiauliai district
municipality		 175706853 Šiaulių r. sav. Žadžiūnų k.
Gudelių g. 30-2		 (8~5) 233 53 40;
fax: (8~5) 233 53 45,
e-mail: [email protected]
ŽŪB AUGA Mantviliškis Agricultural
entity		 06-11-1992,
Kėdainiai district
board		 161274230 Kėdainių r. sav. Mantviliškio k. (8~5) 233 53 40;
fax: (8~5) 233 53 45,
e-mail: [email protected]
ŽŪB AUGA Alanta Agricultural
entity		 29-06-1992, Molėtai
district municipality		 167527719 Molėtų r. sav. Kazlų k.
Skiemonių g. 2A		 (8~5) 233 53 40;
fax: (8~5) 233 53 45,
e-mail: [email protected]
ŽŪB AUGA Eimučiai Agricultural
entity		 29-06-1992,
Šiauliai district
municipality		 175705032 Šiaulių r. sav. Žadžiūnų k.
Gudelių g. 30-2		 (8~5) 233 53 40;
fax: (8~5) 233 53 45,
e-mail: [email protected]
ŽŪB AUGA Vėriškės Agricultural
entity		 29-09-1992,
Radviliškis district
municipality		 171305165 Radviliškio r. sav. Vėriškių k. (8~5) 233 53 40;
fax: (8~5) 233 53 45,

e-mail: [email protected]

INTERIM REPORT

(All amounts are in EUR thousand, unless otherwise stated)
ŽŪB AUGA Želsvelė		 Agricultural
entity		 03-07-1992,
Marijampolė
municipality		 165666499 Marijampolės sav. Želsvos k. (8~5) 233 53 40;
fax: (8~5) 233 53 45,
e-mail: [email protected]
ŽŪB AUGA Lankesa Agricultural
entity		 06-04-1999, Jonava
district municipality		 156913032 Jonavos r. sav. Bukonių k. (8~5) 233 53 40;
fax: (8~5) 233 53 45,
e-mail: [email protected]
ŽŪB AUGA Kairėnai Agricultural
entity		 02-03-1993,
Radviliškis district
municipality		 171327432 Radviliškio r. sav. Kairėnų k. (8~5) 233 53 40;
fax: (8~5) 233 53 45,
e-mail: [email protected]
ŽŪB AUGA Jurbarkai Agricultural
entity		 31-07-1992,
Jurbarkas district
municipality		 158174818 Jurbarko r. sav. Klišių k. Vytauto
Didžiojo g. 99		 (8~5) 233 53 40;
fax: (8~5) 233 53 45,
e-mail: [email protected]
UAB Grūduva Joing stock
company		 24-02-1997, Šakiai
district municipality		 174401546 Šakių r. sav. Gotlybiškių k. (8~5) 233 53 40;
fax: (8~5) 233 53 45,
e-mail: [email protected]
Panevežio region ŽŪB
Gustoniai		 Agricultural
entity		 09-12-1992,
Panevėžys district
municipality		 168565021 Panevėžio r. sav. Gustonių k. M.
Kriaučiūno g. 15		 (8~5) 233 53 40;
fax: (8~5) 233 53 45,
e-mail: [email protected]
S.R.L. Natur Agro Grup Closed joint
stock company		 23-09-2005,
Republic of Moldova		 1,01E+12 Stefan cel Marebd. 132, ap. 64,
Chisinau mun., Moldova		 (8~5) 233 53 40;
fax: (8~5) 233 53 45,
e-mail: [email protected]
S.R.L. Agrowill group Closed joint
stock company		 01-07-2008,
Republic of Moldova		 1,01E+11 Kogalniceanu Mihail, 51,
Chisinau mun., Moldova		 (8~5) 233 53 40;
fax: (8~5) 233 53 45,
e-mail: [email protected]
ZAO Agroprom Closed joint
stock company		 01-09-2008,
Russian Federation		 1,09E+12 Baimanskaja st. 7-10, Moscow,
Russia		 (8~5) 233 53 40;
fax: (8~5) 233 53 45,
e-mail: [email protected]

INTERIM REPORT

(All amounts are in EUR thousand, unless otherwise stated)
KB Siesartis Cooperative
entity		 21-04-2010, Šakiai
district municipality		 302501098 Šakių r. sav. Gotlybiškių k.
Mokyklos g. 18		 (8~5) 233 53 40;
fax: (8~5) 233 53 45,
e-mail: [email protected]
KB Kašėta Cooperative
entity		 21-04-2010,
Jonavos district
municipality		 302501251 Jonavos r. sav. Bukonių k.
Lankesos g. 1		 (8~5) 233 53 40;
fax: (8~5) 233 53 45,
e-mail: [email protected]
ŽŪB Gustonys Agricultural
entity		 08-06-2010,
Vilniaus district
municipality		 302520102 Panevėžio r. sav. Gustonių k. M.
Kriaučiūno g. 15		 (8~5) 233 53 40;
fax: (8~5) 233 53 45,
e-mail: [email protected]
ŽŪB Skėmių
pienininkystės centras		 Agricultural
entity		 05-03-2012
Radviliškis district
municipality		 302737554 Radviliškio r. sav. Skėmių k.
Alyvų g. 1		 (8~5) 233 53 40;
fax: (8~5) 233 53 45,
e-mail: [email protected]
Agrobokštai ŽŪK Cooperative
entity		 02-03-2010,
Marijampolė
municipality		 302485217 Vilniaus m. sav. Vilniaus m.
Smolensko g. 10		 (8~5) 233 53 40;
fax: (8~5) 233 53 45,
e-mail: [email protected]
KB Dotnuvėlės valdos Cooperative
entity		 21-04-2011,
Šiauliai district
municipality		 302618614 Šiaulių r. sav. Žadžiūnų k.
Gudelių g. 30-2		 (8~5) 233 53 40;
fax: (8~5) 233 53 45,
e-mail: [email protected]
KB Nevėžio lankos Cooperative
entity		 21-04-2011,
Radviliškis district
municipality		 302618596 Kėdainių r. sav. Mantviliškio k.
Liepos 6-osios g. 60		 (8~5) 233 53 40;
fax: (8~5) 233 53 45,
e-mail: [email protected]
KB Radviliškio kraštas Cooperative
entity		 20-04-2011,
Radviliškis district
municipality		 302618742 Radviliškio r. sav. Skėmių k.
Kėdainių g. 13		 (8~5) 233 53 40;
fax: (8~5) 233 53 45,
e-mail: [email protected]
KB Šventosios pievos Cooperative
entity		 20-04-2011,
Radviliškis district
municipality		 302618201 Radviliškio r. sav. Vaitiekūnų k.
Spindulio g. 13-2		 (8~5) 233 53 40;
fax: (8~5) 233 53 45,
e-mail: [email protected]

INTERIM REPORT

INTERIM REPORT
(All amounts are in EUR thousand, unless otherwise stated)
KB Kairių ūkis Cooperative
entity		 13-04-2011,
Marijampolė
municipality		 302615194 Panevėžio r. sav. Gustonių k. M.
Kriaučiūno g. 15		 (8~5) 233 53 40;
fax: (8~5) 233 53 45,
e-mail: [email protected]
KB Šiaurinė valda Cooperative
entity		 13-04-2011, Šakiai
district municipality		 302615187 Šiaulių r. sav. Poviliškių k. (8~5) 233 53 40;
fax: (8~5) 233 53 45,
e-mail: [email protected]
KB Šušvės žemė Cooperative
entity		 21-04-2011,
Radviliškis district
municipality		 302618767 Kelmės r. sav. Pašiaušės k.
Vilties g. 2		 (8~5) 233 53 40;
fax: (8~5) 233 53 45,
e-mail: [email protected]
ŽŪK Agromilk Cooperative
entity		 23-04-2009,
Radviliškis district
municipality		 302332698 Anykščių r. sav. Nausodės k.
Nausodės g. 55		 (8~5) 233 53 40;
fax: (8~5) 233 53 45,
e-mail: [email protected]
KB Žalmargėlis Cooperative
entity		 23-09-2013, State
Registrar		 303145954 Vilniaus m. sav. Vilniaus m.
Smolensko g. 10		 (8~5) 233 53 40;
fax: (8~5) 233 53 45,
e-mail: [email protected]
KB Juodmargėlis Cooperative
entity		 03-10-2013, State
Registrar		 303159014 Raseinių r. sav. Paraseinio k.
Paraseinio g. 2		 (8~5) 233 53 40;
fax: (8~5) 233 53 45,
e-mail: [email protected]
UAB Agrosaulė 8 Joint stock
company		 23-08-2012, State
Registrar		 302846105 Jonavos r. sav. Bukonių k.
Lankesos g. 1		 (8~5) 233 53 40;
fax: (8~5) 233 53 45,
e-mail: [email protected]
Pasvalys distr., Pušalotas
reclamation infrastructure
users association		 Association 11-12-2009
Pasvalys district
municipality		 302465563 Pasvalio r. sav. Diliauskų k.
Diliauskų g. 23		 (8~5) 233 53 40;
fax: (8~5) 233 53 45,
e-mail: [email protected]
Grūduvos melioracija Association 23-11-2010, State
Registrar		 302567116 Mokyklos st. 2, Gotlybiškės,
Šakiai distr.		 (8~5) 233 53 40;
fax: (8~5) 233 53 45,
e-mail: [email protected]

INTERIM REPORT

(All amounts are in EUR thousand, unless otherwise stated)

Skėmių melioracijos
statinių naudotojų
asociacija		 Association 22-10-2013, State
Registrar		 303170256 Vilniaus m. sav. Vilniaus m.
Smolensko g. 10		 (8~5) 233 53 40;
fax: (8~5) 233 53 45,
e-mail: [email protected]
Melioracijos sistemų
naudotojų asociacijos
"Nausodė"		 Association 22-10-2013, State
Registrar		 304219592 Vilniaus m. sav. Vilniaus m.
Konstitucijos pr. 21C		 (8~5) 233 53 40;
fax: (8~5) 233 53 45,
e-mail: [email protected]
Vaitiekūnų melioracijos
statinių naudotojų
asociacija		 Association 22-10-2013, State
Registrar		 303170306 Vilniaus m. sav. Vilniaus m.
Smolensko g. 10		 (8~5) 233 53 40;
fax: (8~5) 233 53 45,
e-mail: [email protected]
UAB Traktorių nuomos
centras		 Joint stock
company		 16-07-2012, State
Registrar		 302820808 Jonavos r. sav. Bukonių k.
Lankesos g. 1		 (8~5) 233 53 40;
fax: (8~5) 233 53 45,
e-mail: [email protected]
UAB Traktorių nuomos
paslaugos		 Joint stock
company		 16-07-2012, State
Registrar		 302820797 Jonavos r. sav. Bukonių k.
Lankesos g. 1		 (8~5) 233 53 40;
fax: (8~5) 233 53 45,
e-mail: [email protected]
UAB Arnega Joint stock
company		 13-08-2011, State
Registrar		 302661957 Jonavos r. sav. Bukonių k.
Lankesos g. 1		 (8~5) 233 53 40;
fax: (8~5) 233 53 45,
e-mail: [email protected]
UAB AGRO Ramučiai Joint stock
company		 05-09-2012, State
Registrar		 302854479 Šiaulių r. sav. Poviliškių k. (8~5) 233 53 40;
fax: (8~5) 233 53 45,
e-mail: [email protected]
UAB Luganta Joint stock
company		 05-09-2012, State
Registrar		 300045023 Kelmės r. sav. Pašiaušės k. (8~5) 233 53 40;
fax: (8~5) 233 53 45,
e-mail: [email protected]
UAB ŽVF projektai Joint stock
company		 27-12-2012, State
Registrar		 300137062 Jonavos r. sav. Bukonių k.
Lankesos g. 1		 (8~5) 233 53 40;
fax: (8~5) 233 53 45,
e-mail: [email protected]
UAB Bukonių ekologinis Joint stock 23-08-2012, State 302846621 Vilniaus m. sav. Vilniaus m. (8~5) 233 53 40;
ūkis company Registrar Konstitucijos pr. 21C fax: (8~5) 233 53 45,
e-mail: [email protected]

INTERIM REPORT

(All amounts are in EUR thousand, unless otherwise stated)
ŽŪB Želsvelės ekologinis
ūkis		 Agricultural
entity		 09-06-2014, State
Registrar		 303325856 Marijampolės sav. Želsvos k.
Želsvelės g. 1		 (8~5) 233 53 40;
fax: (8~5) 233 53 45,
e-mail: [email protected]
ŽŪB Smilgių ekologinis
ūkis		 Agricultural
entity		 09-06-2014, State
Registrar		 303325824 Panevėžio r. sav. Smilgių mstl.
Panevėžio g. 23-1		 (8~5) 233 53 40;
fax: (8~5) 233 53 45,
e-mail: [email protected]
ŽŪB Skėmių ekologinis
ūkis		 Agricultural
entity		 09-06-2014, State
Registrar		 303325692 Radviliškio r. sav. Skėmių k.
Kėdainių g. 13		 (8~5) 233 53 40;
fax: (8~5) 233 53 45,
e-mail: [email protected]
ŽŪB Mantviliškio
ekologinis ūkis		 Agricultural
entity		 09-06-2014, State
Registrar		 303325703 Kėdainių r. sav. Mantviliškio k.
Liepos 6-osios g. 60		 (8~5) 233 53 40;
fax: (8~5) 233 53 45,
e-mail: [email protected]
ŽŪB Spindulio ekologinis
ūkis		 Agricultural
entity		 09-06-2014, State
Registrar		 303325817 Radviliškio r. sav. Vaitiekūnų k.
Spindulio g. 13-2		 (8~5) 233 53 40;
fax: (8~5) 233 53 45,
e-mail: [email protected]
ŽŪB Lankesos ekologinis
ūkis		 Agricultural
entity		 09-06-2014, State
Registrar		 303325710 Jonavos r. sav. Bukonių k.
Lankesos g. 1		 (8~5) 233 53 40;
fax: (8~5) 233 53 45,
e-mail: [email protected]
ŽŪB Dumšiškių ekologinis
ūkis		 Agricultural
entity		 09-06-2014, State
Registrar		 303324722 Raseinių r. sav. Paraseinio k.
Paraseinio g. 2		 (8~5) 233 53 40;
fax: (8~5) 233 53 45,
e-mail: [email protected]
ŽŪB Kairėnų ekologinis
ūkis		 Agricultural
entity		 09-06-2014, State
Registrar		 303325774 Radviliškio r. sav. Vaitiekūnų k.
Spindulio g. 13-2		 (8~5) 233 53 40;
fax: (8~5) 233 53 45,
e-mail: [email protected]
ŽŪB Žadžiūnų ekologinis Agricultural 09-06-2014, State 303325870 Šiaulių r. sav. Žadžiūnų k. (8~5) 233 53 40;
ūkis entity Registrar Gudelių g. 30-2 fax: (8~5) 233 53 45,
e-mail: [email protected]
ŽŪB Vėriškių ekologinis Agricultural 09-06-2014, State 303325849 Radviliškio r. sav. Skėmių k. (8~5) 233 53 40;
ūkis entity Registrar Kėdainių g. 13 fax: (8~5) 233 53 45,
e-mail: [email protected]

INTERIM REPORT

(All amounts are in EUR thousand, unless otherwise stated)
ŽŪB Nausodės ekologinis
ūkis		 Agricultural
entity		 09-06-2014, State
Registrar		 303325781 Anykščių r. sav. Nausodės k.
Nausodės g. 55		 (8~5) 233 53 40;
fax: (8~5) 233 53 45,
e-mail: [email protected]
ŽŪB Jurbarkų ekologinis
ūkis		 Agricultural
entity		 09-06-2014, State
Registrar		 303325361 Jurbarko r. sav. Klišių k. Vytauto
Didžiojo g. 99		 (8~5) 233 53 40;
fax: (8~5) 233 53 45,
e-mail: [email protected]
ŽŪB Eimučių ekologinis
ūkis		 Agricultural
entity		 09-06-2014, State
Registrar		 303324715 Šiaulių r. sav. Žadžiūnų k.
Gudelių g. 30-2		 (8~5) 233 53 40;
fax: (8~5) 233 53 45,
e-mail: [email protected]
ŽŪB Alantos ekologinis
ūkis		 Agricultural
entity		 09-06-2014, State
Registrar		 303324747 Molėtų r. sav. Kazlų k.
Skiemonių g. 2A		 (8~5) 233 53 40;
fax: (8~5) 233 53 45,
e-mail: [email protected]
ŽŪB Grūduvos ekologinis
ūkis		 Agricultural
entity		 09-06-2014, State
Registrar		 303324804 Šakių r. sav. Gotlybiškių k.
Mokyklos g. 2		 (8~5) 233 53 40;
fax: (8~5) 233 53 45,
e-mail: [email protected]
UAB eTime invest Joint stock
company		 09-06-2014, State
Registrar		 300578676 Vilniaus m. sav. Vilniaus m.
Saltoniškių g. 29		 (8~5) 233 53 40;
fax: (8~5) 233 53 45,
e-mail: [email protected]
OOO Karakash Agro Joint stock
company		 09-09-2010,
Ukraine		 37171461 Adalet st. 18, Chechova,
Razdolnenskiy distr., Krym		 (8~5) 233 53 40;
fax: (8~5) 233 53 45,
e-mail: [email protected]
OOO Karakash Joint stock 09-09-2010, 32140884 Adalet st. 18, Chechova, (8~5) 233 53 40;
company Ukraine Razdolnenskiy distr., Krym fax: (8~5) 233 53 45,
e-mail: [email protected]
AgroSchool OU Joint stock
company		 15-07-2013,
Estonia		 12491954 Parnu st. 15, Harju distr., Tallinn (8~5) 233 53 40;
fax: (8~5) 233 53 45,
e-mail: [email protected]
Public institution
AgroSchool		 Public
institution		 22-07-2013, State
Registrar		 303104797 Vilniaus m. sav. Vilniaus m.
Smolensko g. 10		 (8~5) 233 53 40;
fax: (8~5) 233 53 45,
e-mail: [email protected]

INTERIM REPORT

INTERIM REPORT
(All amounts are in EUR thousand, unless otherwise stated)
Sendri Capital OU Private limited 02-05-2014, 12655539 Parnu st. 15, Harju distr., Tallinn (8~5) 233 53 40;
company Estonia fax: (8~5) 233 53 45,
e-mail: [email protected]
Turvaste partners OU Private limited
company		 02-05-2014,
Estonia		 12655410 Parnu st. 15, Harju distr., Tallinn (8~5) 233 53 40;
fax: (8~5) 233 53 45,
e-mail: [email protected]
Nakamaa Agro OU Private limited
company		 02-05-2014,
Estonia		 12655522 Parnu st. 15, Harju distr., Tallinn (8~5) 233 53 40;
fax: (8~5) 233 53 45,
e-mail: [email protected]
Hindaste Invest OU Private limited
company		 24-04-2014,
Estonia		 12655384 Parnu st. 15, Harju distr., Tallinn (8~5) 233 53 40;
fax: (8~5) 233 53 45,
e-mail: [email protected]
Tuudi River OU Private limited
company		 02-05-2014,
Estonia		 12655384 Parnu st. 15, Harju distr., Tallinn (8~5) 233 53 40;
fax: (8~5) 233 53 45,
e-mail: [email protected]
Palderma Partners OU Private limited
company		 02-05-2014,
Estonia		 12654959 Parnu st. 15, Harju distr., Tallinn (8~5) 233 53 40;
fax: (8~5) 233 53 45,
e-mail: [email protected]
Ave-Martna Capital OU Private limited
company		 02-05-2014,
Estonia		 12655155 Parnu st. 15, Harju distr., Tallinn (8~5) 233 53 40;
fax: (8~5) 233 53 45,
e-mail: [email protected]
Hobring Invest OU Private limited
company		 02-05-2014,
Estonia		 12655427 Parnu st. 15, Harju distr., Tallinn (8~5) 233 53 40;
fax: (8~5) 233 53 45,
e-mail: [email protected]
Rukkirahhu Capital OU Private limited
company		 02-05-2014,
Estonia		 12655232 Parnu st. 15, Harju distr., Tallinn (8~5) 233 53 40;
fax: (8~5) 233 53 45,
e-mail: [email protected]
Pahasoo OU Private limited
company		 02-05-2014,
Estonia		 12655367 Parnu st. 15, Harju distr., Tallinn (8~5) 233 53 40;
fax: (8~5) 233 53 45,
e-mail: [email protected]

INTERIM REPORT

(All amounts are in EUR thousand, unless otherwise stated)

KB Ganiklis Cooperative 20-10-2014, State 303429417 Radviliškio r. sav. Skėmių k. (8~5) 233 53 40;
entity Registrar Alyvų g. 1-3 fax: (8~5) 233 53 45,
e-mail: [email protected]
KB Ganiavos gėrybės Cooperative
entity		 20-10-2014, State
Registrar		 303429431 Radviliškio r. sav. Skėmių k.
Alyvų g. 1-3		 (8~5) 233 53 40;
fax: (8~5) 233 53 45,
e-mail: [email protected]
KB Žemėpačio pieno ūkis Cooperative
entity		 22-10-2014, State
Registrar		 303432388 Radviliškio r. sav. Skėmių k.
Alyvų g. 1-3		 (8~5) 233 53 40;
fax: (8~5) 233 53 45,
e-mail: [email protected]
KB Žemynos pienelis Cooperative
entity		 17-10-2014, State
Registrar		 303427989 Radviliškio r. sav. Skėmių k.
Alyvų g. 1-3		 (8~5) 233 53 40;
fax: (8~5) 233 53 45,
e-mail: [email protected]
KB Lygiadienio ūkis Cooperative
entity		 17-10-2014, State
Registrar		 303428087 Radviliškio r. sav. Skėmių k.
Alyvų g. 1-3		 (8~5) 233 53 40;
fax: (8~5) 233 53 45,
e-mail: [email protected]
KB Laumės pieno ūkis Cooperative
entity		 17-10-2014, State
Registrar		 303427996 Radviliškio r. sav. Skėmių k.
Alyvų g. 1-3		 (8~5) 233 53 40;
fax: (8~5) 233 53 45,
e-mail: [email protected]
KB Medeinos pienas Cooperative
entity		 17-10-2014, State
Registrar		 303428112 Radviliškio r. sav. Skėmių k.
Alyvų g. 1-3		 (8~5) 233 53 40;
fax: (8~5) 233 53 45,
e-mail: [email protected]
KB Gardaitis Cooperative
entity		 20-10-2014, State
Registrar		 303429381 Radviliškio r. sav. Skėmių k.
Alyvų g. 1-3		 (8~5) 233 53 40;
fax: (8~5) 233 53 45,
e-mail: [email protected]
KB Dimstipatis Cooperative
entity		 20-10-2014, State
Registrar		 303429424 Radviliškio r. sav. Skėmių k.
Alyvų g. 1-3		 (8~5) 233 53 40;
fax: (8~5) 233 53 45,
e-mail: [email protected]
KB Aušlavis Cooperative
entity		 20-10-2014, State
Registrar		 303429456 Radviliškio r. sav. Skėmių k.
Alyvų g. 1-3		 (8~5) 233 53 40;
fax: (8~5) 233 53 45,
e-mail: [email protected]

INTERIM REPORT

(All amounts are in EUR thousand, unless otherwise stated)
KB Austėjos pieno ūkis Cooperative
entity		 17-10-2014, State
Registrar		 303428094 Radviliškio r. sav. Skėmių k.
Alyvų g. 1-3		 (8~5) 233 53 40;
fax: (8~5) 233 53 45,
e-mail: [email protected]
KB Aitvaro ūkis Cooperative
entity		 20-10-2014, State
Registrar		 303429374 Radviliškio r. sav. Skėmių k.
Alyvų g. 1-3		 (8~5) 233 53 40;
fax: (8~5) 233 53 45,
e-mail: [email protected]
KB Giraičio pieno ūkis Cooperative
entity		 20-10-2014, State
Registrar		 303429399 Radviliškio r. sav. Skėmių k.
Alyvų g. 1-3		 (8~5) 233 53 40;
fax: (8~5) 233 53 45,
e-mail: [email protected]
Fentus 10, GmbH Private limited
company		 02-05-2014,
Germany		 HRB106477 Torstrasse 138, Berlin, DE-10119,
Germany		 (8~5) 233 53 40;
fax: (8~5) 233 53 45,
e-mail: [email protected]
Norus , AG Private limited
company		 02-05-2014,
Germany		 HRB109356B Torstrasse 138, Berlin, DE-10119,
Germany		 (8~5) 233 53 40;
fax: (8~5) 233 53 45,
e-mail: [email protected]
LT Holding AG Private limited
company		 02-05-2014,
Germany		 HRB109265B Torstrasse 138, Berlin, DE-10119,
Germany		 (8~5) 233 53 40;
fax: (8~5) 233 53 45,
e-mail: [email protected]
,,KTG Agrar" UAB Private limited
company		 20-10-2014, State
Registrar		 300127919 Maironio g. 3, Raseiniai (8~5) 233 53 40;
fax: (8~5) 233 53 45,
e-mail: [email protected]
UAB ,,Agrar Raseiniai" Private limited 20-10-2014, State 300610316 Maironio g. 3, Raseiniai (8~5) 233 53 40;
company Registrar fax: (8~5) 233 53 45,
e-mail: [email protected]
UAB ,,Agrar Mažeikiai" Private limited 20-10-2014, State 300610348 Dvaro g.30, Gėluvos k., Ariogalos
sen., Raseinių r.		 (8~5) 233 53 40;
company Registrar fax: (8~5) 233 53 45,
e-mail: [email protected]
UAB ,,PAE Agrar" Private limited
company		 20-10-2014, State
Registrar		 300867691 Dvaro g.30, Gėluvos k., Ariogalos
sen., Raseinių r.		 (8~5) 233 53 40;

fax: (8~5) 233 53 45,

e-mail: [email protected]

INTERIM REPORT

(All amounts are in EUR thousand, unless otherwise stated)
UAB ,,Delta Agrar" Private limited
company		 20-10-2014, State
Registrar		 300868875 Dvaro g.30, Gėluvos k., Ariogalos
sen., Raseinių r.		 (8~5) 233 53 40;
fax: (8~5) 233 53 45,
e-mail: [email protected]
UAB ,,KTG Grūdai" Private limited
company		 20-10-2014, State
Registrar		 302637486 Dvaro g.30, Gėluvos k., Ariogalos
sen., Raseinių r.		 (8~5) 233 53 40;
fax: (8~5) 233 53 45,
e-mail: [email protected]
UAB ,,KTG Eko Agrar" Private limited
company		 20-10-2014, State
Registrar		 300510650 Maironio g. 3, Raseiniai (8~5) 233 53 40;
fax: (8~5) 233 53 45,
e-mail: [email protected]
UAB ,,Agronita" Private limited
company		 20-10-2014, State
Registrar		 300132574 Maironio g. 3, Raseiniai (8~5) 233 53 40;
fax: (8~5) 233 53 45,
e-mail: [email protected]
UAB ,,Agronuoma" Private limited
company		 20-10-2014, State
Registrar		 303204954 Dvaro g.30, Gėluvos k., Ariogalos
sen., Raseinių r.		 (8~5) 233 53 40;
fax: (8~5) 233 53 45,
e-mail: [email protected]
UAB ,,VL Investment Vilnius
12"		 Private limited
company		 20-10-2014, State
Registrar		 303205611 Dvaro g.30, Gėluvos k., Ariogalos
sen., Raseinių r.		 (8~5) 233 53 40;
fax: (8~5) 233 53 45,
e-mail: [email protected]
UAB ,,Agrar Ašva" Private limited
company		 20-10-2014, State
Registrar		 301608542 Dvaro g.30, Gėluvos k., Ariogalos
sen., Raseinių r.		 (8~5) 233 53 40;
fax: (8~5) 233 53 45,
e-mail: [email protected]
UAB ,,Agrar Varduva" Private limited
company		 20-10-2014, State
Registrar		 301608791 Dvaro g.30, Gėluvos k., Ariogalos
sen., Raseinių r.		 (8~5) 233 53 40;
fax: (8~5) 233 53 45,
e-mail: [email protected]
UAB ,,Agrar Seda" Private limited
company		 20-10-2014, State
Registrar		 301608777 Dvaro g.30, Gėluvos k., Ariogalos
sen., Raseinių r.		 (8~5) 233 53 40;
fax: (8~5) 233 53 45,
e-mail: [email protected]
UAB ,,Agrar Kvistė" Private limited
company		 20-10-2014, State
Registrar		 302308067 Dvaro g.30, Gėluvos k., Ariogalos
sen., Raseinių r.		 (8~5) 233 53 40;
fax: (8~5) 233 53 45,
e-mail: [email protected]

INTERIM REPORT

(All amounts are in EUR thousand, unless otherwise stated)
UAB ,,Agrar Luoba" Private limited
company		 20-10-2014, State
Registrar		 302308035 Dvaro g.30, Gėluvos k., Ariogalos
sen., Raseinių r.		 (8~5) 233 53 40;
fax: (8~5) 233 53 45,
e-mail: [email protected]
UAB ,,Agrar Gaja" Private limited
company		 20-10-2014, State
Registrar		 302594412 Dvaro g.30, Gėluvos k., Ariogalos
sen., Raseinių r.		 (8~5) 233 53 40;
fax: (8~5) 233 53 45,
e-mail: [email protected]
UAB ,,Agrar Ariogala" Private limited
company		 20-10-2014, State
Registrar		 301626540 Dvaro g.30, Gėluvos k., Ariogalos
sen., Raseinių r.		 (8~5) 233 53 40;
fax: (8~5) 233 53 45,
e-mail: [email protected]
UAB ,,Agrar Girdžiai" Private limited
company		 20-10-2014, State
Registrar		 301621568 Dvaro g.30, Gėluvos k., Ariogalos
sen., Raseinių r.		 (8~5) 233 53 40;
fax: (8~5) 233 53 45,
e-mail: [email protected]
UAB ,,Agrar Vidauja" Private limited
company		 20-10-2014, State
Registrar		 301622531 Dvaro g.30, Gėluvos k., Ariogalos
sen., Raseinių r.		 (8~5) 233 53 40;
fax: (8~5) 233 53 45,
e-mail: [email protected]
UAB ,, Agrar Raudonė" Private limited
company		 20-10-2014, State
Registrar		 302309532 Dvaro g.30, Gėluvos k., Ariogalos
sen., Raseinių r.		 (8~5) 233 53 40;
fax: (8~5) 233 53 45,
e-mail: [email protected]
UAB ,,Agrar Venta" Private limited
company		 20-10-2014, State
Registrar		 302307855 Dvaro g.30, Gėluvos k., Ariogalos
sen., Raseinių r.		 (8~5) 233 53 40;
fax: (8~5) 233 53 45,
e-mail: [email protected]
UAB ,,Agrar Nerys" Private limited
company		 20-10-2014, State
Registrar		 302594063 Dvaro g.30, Gėluvos k., Ariogalos
sen., Raseinių r.		 (8~5) 233 53 40;
fax: (8~5) 233 53 45,
e-mail: [email protected]
UAB ,,Agrar Gėluva" Private limited
company		 20-10-2014, State
Registrar		 302312133 Dvaro g.30, Gėluvos k., Ariogalos
sen., Raseinių r.		 (8~5) 233 53 40;
fax: (8~5) 233 53 45,
e-mail: [email protected]
UAB ,,Agrar Betygala" Private limited
company		 20-10-2014, State
Registrar		 302312222 Dvaro g.30, Gėluvos k., Ariogalos
sen., Raseinių r.		 (8~5) 233 53 40;
fax: (8~5) 233 53 45,
e-mail: [email protected]

INTERIM REPORT

(All amounts are in EUR thousand, unless otherwise stated)

UAB ,,Agrar Dubysa" Private limited
company		 20-10-2014, State
Registrar		 302312215 Dvaro g.30, Gėluvos k., Ariogalos
sen., Raseinių r.		 (8~5) 233 53 40;
fax: (8~5) 233 53 45,
e-mail: [email protected]
UAB ,,Agrar Pauliai" Private limited
company		 20-10-2014, State
Registrar		 302312165 Dvaro g.30, Gėluvos k., Ariogalos
sen., Raseinių r.		 (8~5) 233 53 40;
fax: (8~5) 233 53 45,
e-mail: [email protected]
UAB ,,Agrar Mituva" Private limited
company		 20-10-2014, State
Registrar		 302312172 Dvaro g.30, Gėluvos k., Ariogalos
sen., Raseinių r.		 (8~5) 233 53 40;
fax: (8~5) 233 53 45,
e-mail: [email protected]

Information on where and when the Report and the documents, on which the Report is based, are publicly available and the name of the mass media means

The report is available during working days from 8.30 to 17.30 at the headquarters of AUGA group AB at the adress: Konstitucijos av. 21C, Quadrum office, Vilnius, or at the Company's internet website: www.auga.lt. The announcements of the Company, including the information and other documents related to the Annual General meeting, also the information and other documents related to liquidation or reorganisation of the Company, minutes of the shareholder and Board meetings, other announcements and documents, which according to the law of Republic of Lithuania, the Statutes of the Company ant the decisions of the Management have to be announced publicly are announced in the state registrar electronic bulletin or delivered to each shareholder and other person personally – either by registered mail, or by signed delivery. Announcements of the Company are placed on the NASDAQ OMX Vilnius Stock exchange information system and on the ESPI information system which is operated by Polish FSA, as well as on Electronic Information Base which is operated by Warsaw Stock Exchange.

INTERIM REPORT

(All amounts are in EUR thousand, unless otherwise stated)

II. INFORMATION ABOUT THE LARGEST SHAREHOLDERS AND ISSUERS MANAGEMENT

Share capital

The share capital of AUGA group AB as at 31 March 2017 was EUR 54,350,713.08. The share capital was divided into 187,416,252 ordinary shares. Each issued share has a EUR 0.29 nominal value and fully paid.

Shareholders

Total number of shareholders as at 31 March 2017 was 1,019 (one thousand nineteen). The shareholders owning more than 5 per cent of all the company shares:

Name, surname /
name of the company		 Company /
personal code		 Address Votes held by
shareholder		 Shares held by
shareholder
UAB "Baltic Champs Group" 145798333 Poviliškių km.,
Šiaulių raj. sav.		 165,167,939 88.13%
Multi Asset Selection Fund I015 Antano Tumėno g.
4-B		 10,920,736 5.83%

The sales of the Issuer's securities on exchanges and other organized markets

Over the accounting period, the Companies shares were traded on the NASDAQ OMX Vilnius (hereinafter – OMX Vilnius).

Price, EUR Total turnover
Reporting period Last
max
min
session		 Date of last
session		 Units EUR,
million
2017 I quarter 0.490 0.431 0.470 2017.03.31 365.499 0.168

Agreements with the mediators of securities public circulation

The Company and FMĮ Orion Securities UAB (A. Tumėno st. 4, B korpusas, LT-01109, Vilnius) signed an agreement regarding handling of Shareholders accounts.

Procedure for amendments of the Articles of Association

The Articles of Association can be changed following Lithuanian Republic law on Stock companies with an appropriate approval of the Companies' shareholders.

INTERIM REPORT

(All amounts are in EUR thousand, unless otherwise stated)

Members of the managing bodies

The managing bodies of the company are general meeting of the shareholders, the Supervisory Council, the Board of Directors and Managing Director. The Supervisory Council (consisting of 3 members) is elected by the shareholder meeting. The Board of directors is formed from 5 members. The chairman is elected by the Board. The Boardmembers are elected by the Supervisory Council. The Board of Directors elects and recalls the Director, decide upon remuneration and other working conditions, approves official rulebook, awards and handles penalties. The General director is the manager of the Company.

Information on managing bodies of the Company as at 31 March 2017:

End of current term Period of service
Name, Surname Position of office as a member
Chairman of Until general meeting of Chairman of Supervisory
Vladas Lašas Supervisory Board shareholders to be held in 2019 Board since 14-05-2015
Member of Until general meeting of Member of Supervisory
Liudas Navickas Supervisory Board shareholders to be held in 2019 Board since 13-03-2014
Member of Until general meeting of Member of Supervisory
Rimantas Rudzkis Supervisory Board shareholders to be held in 2019 Board since 13-03-2014
End of current term Period of service
Name, Surname Position of office as a member
Kęstutis Juščius Chairman of Board Until general meeting of
shareholders to be held in 2019		 Chairman of Board since
14-05-2015
Member of Board since
08-05-2014
Linas Bulzgys Member of Board
General director		 Until general meeting of
shareholders to be held in 2019		 General director since
05-05-2015
Marijus Bakas Member of Board Until general meeting of
shareholders to be held in 2019		 Member of Board since
08-05-2014
Linas Strėlis Member of Board Until general meeting of
shareholders to be held in 2019		 Member of Board since
14-12-2007
Agnė Jonaitytė Member of Board Until general meeting of
shareholders to be held in 2019		 Member of Board since
07-02-2017

Information on the shares of the Company held by the members of the Supervisory Board, the Board and the top management as of 31 March 2017:

Name, Surname Position Owned shares in the
Company, units		 Owned shares in the
Company, %
Kęstutis Juščius Chairman of the Board 1,392 0.00%
Marijus Bakas Member of Board 39,062 0.02%

Kęstutis Juščius, Chairman of the Board, is the ultimate shareholder of Baltic Champs Group, UAB , controlling 88.13% of the Group shares.

(All amounts are in EUR thousand, unless otherwise stated)

III. FINANCIAL INFORMATION

Consolidated income statement

3 month period
ended 31 March
2017
unaudited		 2016
unaudited
Revenues
Cost of sales
Gain (loss) on changes in fair values of biological assets
and on initial recognition of agricultural produce		 12,107
(9,939)		 8,918
(6,780)
-
GROSS PROFIT 2,168 2,138
Operating expenses
Write-off of negative goodwill
Other income		 (1,932)
-
53		 (1,332)
-
181
OPERATING PROFIT 289 987
Finance cost (272) (432)
PROFIT (LOSS) BEFORE INCOME TAX 17 555
Profit tax - (5)
NET PROFIT / (LOSS) FOR THE PERIOD 17 550
ATTRIBUTABLE TO :
Equity holders of the Company
Non-controlling interest		 17
-		 583
(33)
17 550
Consolidated statement of comprehensive
income
NET PROFIT/ (LOSS) FOR THE PERIOD 17 550
Other comprehensive income: - -
TOTAL COMPREHENSIVE INCOME FOR THE PERIOD 17 550
ATTRIBUTABLE TO :
Equity holders of the Company
Non-controlling interest		 17
-		 583
(33)
17 550

(All amounts are in EUR thousand, unless otherwise stated)

Consolidated balance sheet

31 March
2017
unaudited		 31 December
2016
audited
ASSETS
Non-current assets
Property, plant and equipment 80,177 76,262
Investment property - -
Intangible assets 1,001 19
Long-term receivables 2,809 2,599
Financial assets 286 286
Deferred tax asset 671 669
Biological assets 7,015 6,858
Total non-current assets 91,959 86,693
Current assets
Biological assets - crops 10,477 5,223
Inventory 11,225 15,157
Trade receivables, advance payments and other receivables 15,869 13,367
Cash and cash equivalents 423 1,650
Total current assets 37,994 35,397
TOTAL ASSETS 129,953 122,090
Capital and reserves
Share capital 54 351 54,351
Share premium 7 890 7,890
Revaluation reserve 4 179 4,179
Legal reserve 579 579
Currency exchange differences (217) (217)
Accumulated surplus 5 180 5,163
Equity attributable to equity holders
of the Company 71 962 71,945
Non-controling interest 293 293
Shareholders equity, total 72,255 72,238
Non-current liabilities
Borrowings 18,655 16,938
Obligations under finance lease 4,726 3,427
Grants 3,351 3,852
Deferred tax liability 433 433
Total non-current liabilities 27,165 24,650
Current liabilities
Current portion of non-current borrowings
Current portion of non-current obligations under finance lease		 3,130
1,906		 3,585
2,690
Current borrowings 7,738 5,350
Trade payables 14,189 8,796
Other payables and current liabilities 3,570 4,781
Total current liabilities 30,533 22,781
Total liabilities 57,698 49,852
TOTAL EQUITY AND LIABILITIES 129,953 122,090

(All amounts are in EUR thousand, unless otherwise stated)

Consolidated statement of changes in equity

Currency Equity attributable to Non
Share Share Revaluation exchange Retained the shareholders of controlling
capital premium reserve differences Legal reserve earnings the company interest Total
Balance as at
31 December 2015 54,351 7,890 7,689 (266) 579 (1,434) 68,809 321 69,130
Comprehensive income
Net profit (loss) for the
period - - - - - 2,173 2,173 (28) 2,145
Other comprehensive
income
Disposal of subsidiaries - - (4,424) - - 4,424 - - -
Revaluation of land, net of
tax - - 914 - - - 914 - 914
Currency exchange
differences - - - 49 - - 49 - 49
Total comprehensive
income - - (3,510) 49 - 6,597 3,136 (28) 3,108
Transactions with
shareholders
Increase in share capital - - - - - - - - -
Total transactions with
shareholders - - - - - - - - -
Balance as at
31 December 2016 54,351 7,890 4,179 (217) 579 5,163 71,945 293 72,238

(All amounts are in EUR thousand, unless otherwise stated)

Equity
attributable to
Currency the Non
Share Share Revaluatio exchange Legal Retained shareholders of controllin
capital premium n reserve differences reserve earnings the company g interest Total
Balance as at
31 December 2016 54,351 7,890 4,179 (217) 579 5,163 71,945 293 72,238
Comprehensive income
Net profit (loss) for the period - - - - - 17 17 - 17
Other comprehensive
income		 - - - - - - - - -
Total comprehensive income - - - - - 17 17 - 17
Transactions with
shareholders
Increase in share capital - - - - - - - - -
Total transactions with
shareholders - - - - - - - - -
Balance as at
31 March 2017 54,351 7,890 4,179 (217) 579 5,180 71,962 293 72,255

(All amounts are in EUR thousand, unless otherwise stated)

Consolidated statement of cash flows

3 month period
ended 31 March
2017
Unaudited		 2016
Uaudited
Cash flows from /(to) operating activities
Net profit before taxes and minority income 17 515
Adjustments for non-cash expenses (income) items and other adjustments
Depreciation 1,532 1,395
Amortisation 2 34
Write-offs and impairment of PPE 43 41
(Profit) loss on sale of investment property - (22)
Write-off of inventory - 40
Net finance cost 251 (389)
Currency exchange losses - -
Grants, related to assets, recognised as income (556) 131
Changes in working capital
(Increase) decrease in biological assets (4,496) (1,218)
(Increase) decrease in trade receivables and prepayments 1,760 (1,694)
(Increase) decrease in inventory 4,125 (1,722)
(Decrease) increase in trade and other payables (1,262) (3,075)
1,416 (2,518)
Interest paid, net (251) (283)
Net cash flows from /(to) operating activities 1,165 (3,801)
Cash flows from /(to) investing activities
Purchase of investments (KTG Group) (478) -
Purchase of accounts receivables (KTG Group) (887) -
Cash acquired together with subsidiaries 44 -
Purchase of property, plant and equipment (992) (747)
Proceeds from sales of investment property, PPE, investments - 22
Loans granted (132) -
Grants related to investments, recognized as income - (278)
Net cash flows from/(to) investment activities (2,445) (1,003)
Cash flows from /(to) financing activities
Disposal (acquisition) of available for sale investments - (80)
Amounts paid to banks (1,866) (5,387)
Borrowings received 3,674 6,123
Other borrowings received (paid) (1,305) 299
Increase (repayments) of obligations under finance lease (450) (684)
Net cash flows from/(to) financing activities 53 270
Net (decrease) / increase in cash and cash equivalents (1,227) (3,534)
Cash and cash equivalents at the beginning of the period 1,650 4,068
Cash and cash equivalents at the end of the period 423 534

(All amounts are in EUR thousand, unless otherwise stated)

Comments to the Financial Information

General information

AUGA group AB (hereinafter – "the Company") was founded and started its operations on 25 June 2003. The Company's head office is located in Konstitucijos av. 21C, Quadrum North, Vilnius, Lithuania. The Company's main activity is management of agricultural companies.

In 2003 the Company's legal name Galuvė UAB was changed to Agrovaldymo grupė UAB. In February 2006, limited liability company Agrovaldymo grupė was reorganized to a public company Agrovaldymo grupė AB. In December 2007 the Company's name was changed to Agrowill Group AB.

In October, 2016 the Company's legal name Agrowill Group AB was changed to AUGA group AB.

In April 2014, AUGA group AB group of companies (hereinafter pre-acquisition consolidated entity – AWG) were acquired by Baltic Champs Group UAB. AWG issued 102,596,266 new shares, 88,444,014 of which were acquired by Baltic Champs Group UAB by contributing shares of Baltic Champs UAB (hereinafter – BC), the remaining 14,151,252 shares were acquired by Vretola Holdings Limited by contributing shares of eTime invest UAB. Based on the requirements outlined in International Financial Reporting Standard 3 "Business Combinations" (IFRS 3) such transaction is treated and accounted for as a reverse acquisition, as former shareholders of BC obtained control of more than 50% of AUGA group AB shares and received the majority of seats in the Board of Directors. For accounting purposes, the legal buyer AUGA Group AB is treated as an accounting acquiree, while legal acquiree Baltic Champs UAB is treated as an accounting acquirer. The new AUGA group AB group of companies, hereinafter in the financial statements is referred to as the Group.

Due to this reverse acquisition transaction, the consolidated figures for the reporting period represent the Group's financial information, being those of Baltic Champs UAB (accounting acquirer) and its subsidiaries financial statements, although the legal name continues to be that of AUGA group AB.

The Company's shareholders' meeting has the power to reject and request the management to reissue financial statements after issue. Starting since 1 April 2008 the Company was listed on Vilnius Stock Exchange Main list, since 30 April 2009, the Company was moved to the Secondary list of NASDAQ OMX Vilnius Stock Exchange. As of 8 July 2011, the Company's shares are also traded on the Warsaw Stock Exchange. The fiscal year of the Company and its subsidiaries corresponds with calendar year.

The consolidated Group (hereinafter the Group) consists of the Company and one hundred fourty two subsidiaries. The subsidiaries included in the Group's consolidated financial statements are indicated below:

Group ownership interest, %
Subsidiary Country 31 Mar 2017 31 Dec 2016 Activity
UAB Baltic Champs Lithuania 100.00% 100.00% Agricultural operations
AVG Investment UAB Lithuania 100.00% 100.00% Management company
AWG Investment 1 UAB Lithuania 100.00% 100.00% Management company
AWG Investment 2 UAB Lithuania 100.00% 100.00% Management company
UAB Agross Lithuania 100.00% 100.00% Trade and logistics
Grain Lt UAB Lithuania 100.00% 100.00% Trade and logistics
AMT Žemė UAB Lithuania 100.00% 100.00% Trade and logistics
Agro GIS UAB Lithuania 95.00% 95.00% IT system development
Agro Management Team UAB Lithuania 100.00% 100.00% Land management company
Agrotechnikos centras UAB Lithuania 100.00% 100.00% Lease of machinery
AUGA trade, UAB Lithuania 100.00% 100.00% Trade activities
Žemės fondas ŽŪB Lithuania 100.00% 100.00% Rent of land
UAB Žemės vystymo fondas 6 Lithuania 100.00% 100.00% Land purchase and rent
UAB Žemės vystymo fondas 9 Lithuania 100.00% 100.00% Land purchase and rent
UAB Žemės vystymo fondas 10 Lithuania 100.00% 100.00% Land purchase and rent
UAB Žemės vystymo fondas 20 Lithuania 100.00% 100.00% Land purchase and rent
Grūduva UAB Lithuania 97.41% 97.41% Agricultural operations
Agricultural company AUGA Spindulys Lithuania 99.96% 99.96% Agricultural operations
Agricultural company AUGA Smilgiai Lithuania 99.95% 99.95% Agricultural operations
Agricultural company AUGA Skėmiai Lithuania 99.87% 99.87% Agricultural operations
Agricultural company AUGA Nausodė Lithuania 99.94% 99.94% Agricultural operations
Agricultural company AUGA Dumšiškės Lithuania 99.38% 99.38% Agricultural operations
Agricultural company AUGA Žadžiūnai Lithuania 99.81% 99.81% Agricultural operations
Agricultural company AUGA Mantviliškis Lithuania 98.79% 98.79% Agricultural operations
Agricultural company AUGA Alanta Lithuania 99.99% 99.99% Agricultural operations

(All amounts are in EUR thousand, unless otherwise stated)

Agricultural company AUGA Eimučiai Lithuania 99.25% 99.25% Agricultural operations
Agricultural company AUGA Vėriškės Lithuania 99.93% 99.93% Agricultural operations
Agricultural company AUGA Želsvelė Lithuania 97.17% 97.17% Agricultural operations
Agricultural company AUGA Lankesa Lithuania 96.24% 96.24% Agricultural operations
Agricultural company AUGA Kairėnai Lithuania 98.47% 98.47% Agricultural operations
Agricultural company AUGA Jurbarkai Lithuania 98.52% 98.52% Agricultural operations
Panevėžys region Agricultural company
Gustoniai Lithuania 99.00% 99.00% Agricultural operations
ZAO Agroprom Russia 75.00% 75.00% Management of subsidiaries
Natur Agro Grup S.R.L. Moldova 100.00% 100.00% Acquisitions and rent of land
Cooperative entity Siesartis Lithuania 100.00% 100.00% Agricultural services
Cooperative entity Kašėta Lithuania 100.00% 100.00% Agricultural services
Agricultural company Gustonys Lithuania 100.00% 100.00% Rent of land
Agricultural company Skėmių pienininkystės
centras Lithuania 50.00% 50.00% Agricultural services
Cooperative entity Agrobokštai Lithuania 100.00% 100.00% Agricultural services
Cooperative entity Dotnuvėlės valdos Lithuania 100.00% 100.00% Agricultural services
Cooperative entity Nevėžio lankos Lithuania 100.00% 100.00% Agricultural services
Cooperative entity Radviliškio kraštas Lithuania 100.00% 100.00% Agricultural services
Cooperative entity Šventosios pievos Lithuania 100.00% 100.00% Agricultural services
Cooperative entity Kairių ūkis Lithuania 100.00% 100.00% Agricultural services
Cooperative entity Šiaurinė valda Lithuania 100.00% 100.00% Agricultural services
Cooperative entity Šušvės žemė Lithuania 100.00% 100.00% Agricultural services
Cooperative company Žalmargėlis Lithuania 100.00% 100.00% Agricultural services
Cooperative company Juodmargėlis Lithuania 100.00% 100.00% Agricultural services
Cooperative company AgroMilk Lithuania 100.00% 100.00% Agricultural services
Cooperative company Purpurėja Lithuania 100.00% 100.00% Agricultural services
UAB Agrosaulė 8 Lithuania 100.00% 100.00% Management company
Association Grūduvos melioracija Lithuania 100.00% 100.00% Agricultural services
Biržai distr., Rinkuškiai reclamation
infrastructure users association Lithuania 100.00% 100.00% Agricultural services
Pasvalys distr., Pušalotas reclamation
infrastructure users association Lithuania 100.00% 100.00% Agricultural services
Skėmiai reclamation infrastructure users
association Lithuania 100.00% 100.00% Agricultural services
Vaitiekūnai reclamation infrastructure users
association Lithuania 100.00% 100.00% Agricultural services
UAB Traktorių nuomos centras Lithuania 100.00% 100.00% Agricultural services
UAB Traktorių nuomos paslaugos Lithuania 100.00% 100.00% Agricultural services
Arnega UAB Lithuania 100.00% 100.00% Agricultural services
AgroSchool OU Estonia 100.00% 100.00% Management of subsidiaries
Public institution AgroSchool Lithuania 50.00% 50.00% Human resource management
UAB Agro Ramučiai Lithuania 100.00% 100.00% Agricultural operations
UAB Luganta Lithuania 100.00% 100.00% Agricultural operations
UAB eTime invest Lithuania 100.00% 100.00% Management of subsidiaries
Karakash Agro, OOO Ukraine 100.00% 100.00% Agricultural operations
Karakash, OOO Ukraine 100.00% 100.00% Agricultural operations
UAB ŽVF projektai Lithuania 100.00% 100.00% Acquisitions and rent of land
UAB Bukonių ekologinis ūkis Lithuania 100.00% 100.00% Management of subsidiaries
UAB Alantos ekologinis ūkis Lithuania 100.00% 100.00% Agricultural operations
UAB Dumšiškių ekologinis ūkis Lithuania 100.00% 100.00% Agricultural operations
UAB Eimučių ekologinis ūkis Lithuania 100.00% 100.00% Agricultural operations
UAB Grūduvos ekologinis ūkis Lithuania 100.00% 100.00% Agricultural operations
UAB Jurbarkai ekologinis ūkis Lithuania 100.00% 100.00% Agricultural operations
UAB Kairėnų ekologinis ūkis Lithuania 100.00% 100.00% Agricultural operations
UAB Lankesos ekologinis ūkis Lithuania 100.00% 100.00% Agricultural operations
UAB Mantviliškio ekologinis ūkis Lithuania 100.00% 100.00% Agricultural operations
UAB Nausodės ekologinis ūkis Lithuania 100.00% 100.00% Agricultural operations
UAB Skėmių ekologinis ūkis Lithuania 100.00% 100.00% Agricultural operations
UAB Smilgių ekologinis ūkis Lithuania 100.00% 100.00% Agricultural operations
UAB Spindulio ekologinis ūkis Lithuania 100.00% 100.00% Agricultural operations
UAB Vėriškės ekologinis ūkis Lithuania 100.00% 100.00% Agricultural operations
UAB Žadžiūnų ekologinis ūkis Lithuania 100.00% 100.00% Agricultural operations
UAB Želsvelės ekologinis ūkis Lithuania 100.00% 100.00% Agricultural operations
Prestviigi OU Estonia 100.00% 100.00% Management of subsidiaries
Turvaste partners OU Estonia 100.00% 100.00% Management of subsidiaries
Nakamaa Agro OU Estonia 100.00% 100.00% Management of subsidiaries
Hindaste Invest OU Estonia 100.00% 100.00% Management of subsidiaries

(All amounts are in EUR thousand, unless otherwise stated)

Tuudi River OU Estonia 100.00% 100.00% Management of subsidiaries
Palderma Partners OU Estonia 100.00% 100.00% Management of subsidiaries
Liialaid Capital OU Estonia 100.00% 100.00% Management of subsidiaries
Ave-Martna Capital OU Estonia 100.00% 100.00% Management of subsidiaries
Hobring Invest OU Estonia 100.00% 100.00% Management of subsidiaries
Rukkirahhu Capital OU Estonia 100.00% 100.00% Management of subsidiaries
Pahasoo OU Estonia 100.00% 100.00% Management of subsidiaries
123 Union OU Estonia 100.00% 100.00% Management of subsidiaries
NovaCorpus OU Estonia 100.00% 100.00% Management of subsidiaries
Bestmax OU Estonia 100.00% 100.00% Management of subsidiaries
Remidox OU Estonia 100.00% 100.00% Management of subsidiaries
KB Ganiklis Lithuania 100.00% 100.00% Agricultural operations
KB Ganiavos gėrybės Lithuania 100.00% 100.00% Agricultural operations
KB Žemėpačio pieno ūkis Lithuania 100.00% 100.00% Agricultural operations
KB Žemynos pienelis Lithuania 100.00% 100.00% Agricultural operations
KB Lygiadienio ūkis Lithuania 100.00% 100.00% Agricultural operations
KB Laumės pieno ūkis Lithuania 100.00% 100.00% Agricultural operations
KB Medeinos pienas Lithuania 100.00% 100.00% Agricultural operations
KB Gardaitis Lithuania 100.00% 100.00% Agricultural operations
KB Dimstipatis Lithuania 100.00% 100.00% Agricultural operations
KB Aušlavis Lithuania 100.00% 100.00% Agricultural operations
KB Austėjos pieno ūkis Lithuania 100.00% 100.00% Agricultural operations
KB Aitvaro ūkis Lithuania 100.00% 100.00% Agricultural operations
KB Giraičio pieno ūkis Lithuania 100.00% 100.00% Agricultural operations
Fentus 10, GmbH Germany 100.00% 0.00% Management of subsidiaries
Norus , AG Germany 100.00% 0.00% Management of subsidiaries
LT Holding AG Germany 100.00% 0.00% Management of subsidiaries
,,KTG Agrar" UAB Germany 100.00% 0.00% Agricultural operations
UAB ,,Agrar Raseiniai" Lithuania 100.00% 0.00% Agricultural operations
UAB ,,Agrar Mažeikiai" Lithuania 100.00% 0.00% Agricultural operations
UAB ,,PAE Agrar" Lithuania 100.00% 0.00% Agricultural operations
UAB ,,Delta Agrar" Lithuania 100.00% 0.00% Agricultural operations
UAB ,,KTG Grūdai" Lithuania 100.00% 0.00% Agricultural operations
UAB ,,KTG Eko Agrar" Lithuania 100.00% 0.00% Agricultural operations
UAB ,,Agronita" Lithuania 100.00% 0.00% Agricultural operations
UAB ,,Agronuoma" Lithuania 100.00% 0.00% Agricultural operations
UAB ,,VL Investment Vilnius 12" Lithuania 100.00% 0.00% Agricultural operations
UAB ,,Agrar Ašva" Lithuania 100.00% 0.00% Agricultural operations
UAB ,,Agrar Varduva" Lithuania 100.00% 0.00% Agricultural operations
UAB ,,Agrar Seda" Lithuania 100.00% 0.00% Agricultural operations
UAB ,,Agrar Kvistė" Lithuania 100.00% 0.00% Agricultural operations
UAB ,,Agrar Luoba" Lithuania 100.00% 0.00% Agricultural operations
UAB ,,Agrar Gaja" Lithuania 100.00% 0.00% Agricultural operations
UAB ,,Agrar Ariogala" Lithuania 100.00% 0.00% Agricultural operations
UAB ,,Agrar Girdžiai" Lithuania 100.00% 0.00% Agricultural operations
UAB ,,Agrar Vidauja" Lithuania 100.00% 0.00% Agricultural operations
UAB ,, Agrar Raudonė" Lithuania 100.00% 0.00% Agricultural operations
UAB ,,Agrar Venta" Lithuania 100.00% 0.00% Agricultural operations
UAB ,,Agrar Nerys" Lithuania 100.00% 0.00% Agricultural operations
UAB ,,Agrar Gėluva" Lithuania 100.00% 0.00% Agricultural operations
UAB ,,Agrar Betygala" Lithuania 100.00% 0.00% Agricultural operations
UAB ,,Agrar Dubysa" Lithuania 100.00% 0.00% Agricultural operations
UAB ,,Agrar Pauliai" Lithuania 100.00% 0.00% Agricultural operations
UAB ,,Agrar Mituva" Lithuania 100.00% 0.00% Agricultural operations

As at 31 March 2017 the Group had 1,169 employees, 31 December 2016 – 1,099 employees. Main operations of the Group – cultural mushrooms growing and selling, production and sales of milk and different grain and rapeseed crops, as well as land management activities.

(All amounts are in EUR thousand, unless otherwise stated)

Basis of preparation

Except as described below, the accounting policies applied are consistent with those of the annual financial statements for the year ended 31 December 2016, as described in those annual financial statements. Taxes on income in the interim periods are accrued using the tax rate that would be applicable to expected total annual earnings.

The accompanying interim financial information for the period ended 31 March 2017 has been prepared in accordance with IAS 34, 'Interim financial reporting'. The consolidated financial information have been prepared on the historical cost basis, as modified by the revaluation of property, plant and equipment, investment property and biological assets (livestock and crops). This financial information should be read in conjunction with the annual financial statements for the year ended 31 December 2016, which have been prepared in accordance with IFRS as adopted by the EU.

The preparation of financial information in conformity with IAS 34 requires the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying the group's accounting policies. The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the consolidated financial information, are disclosed below.

Critical accounting estimates and assumptions

The Group makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognized in the period in which the estimate is revised if the revision affects only that period or in the period of the revision and future periods if the revision affects both current and future periods. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities in future periods are addressed below.

Income taxes

Tax authorities have right to examine accounting records of the Company and its Lithuanian subsidiaries at anytime during the 5 year period after the current tax year and account for additional taxes and fines. In the opinion of the Group's management, currently there are no circumstances which would raise substantial liability in this respect to the Group.

The Group has created deferred tax liability on revaluation amounts of investment property and own assets. The applicable tax rate used was 15%, as it is planned that assets will be realized (if will be realized) after 2013 when the 15% corporate tax effect will be applicable to all Group's entities (except for the agricultural subsidiaries which are currently taxed at lower transition tax rate of 5%).

(All amounts are in EUR thousand, unless otherwise stated)

Business combinations

In December 2016, the Group started acquisition procedues of KTG AGRAR SE subsidiary companies, operating in Lithuania (KTG group companies). The Group filed a request with the Competition authority regarding permission to acquire the operations. The formal acceptance was received on 13 January 2017, and the Group finalized the acquisition procedues on 31 January 2017. The majority of the acquired companies are agricultural operations companies, other 3 companies are subsidiary management companies. Fair value estimation of acquired KTG group companies is provided below:

Business combination KTG group companies
Fair value of the group as at
31 January 2017
Non-current assets
Intangible assets (land rent contracts) 984
PPE 4,598
Biological assets (current)
Crops 915
Current assets
Trade receivables and other current assets 1,909
Inventory 193
Cash and cash equivalents 44
Long term liabilities
Grants
Financial liabilities		 (55)
(1,869)
Short term liabilities
Other financial liabilities (3,206)
Trade payables and other current liabilities (4,579)
Net assets at acquisition date (1,066)
Accounts receivable acquired 2,431
Acquired share capital and receivables, % 100.0
Total value of acquired investment 1,365
Consideration paid for shares 478
Consideration paid for receivables 887
Total purchase consideration 1,365
Total (negative) goodwill -

The Group updated fair value estimations of the KTG group companies provided in 31 December 2016. The fair value of land rent contracts (decreased), agricultural land plots (increased), construction in progress (decreased), crops (increased) and accounts receivable (increased) was updated after more in depth analysis of the assets.

(All amounts are in EUR thousand, unless otherwise stated)

Revenues

Revenues breakdown by type was the following: 3 month period
ended 31 March
2017 2016
Mushrooms and compost 5,584 6,046
Milk sales 2,073 1,548
Crop sales 4,236 898
Cattle sales 214 275
Other revenues - 152
Total 12,107 8,919

The Group revenues increased by 35% in the first quarter of 2017 compared to the same period last year. Revenues from mushrooms and compost sales decreased due to temporary problems in production in the first quarter of 2017. However, the problems were solved the same quarter and sales in subsequent months returned to 2016 year's level. Revenues from sales of milk have increased due rise of market milk prices. Cattle sales decreased due to the fact that in 2017 the Group had less dropped cows. Crop sales increased as only 40% of 2016 year's harvest were sold in 2016, while 80% of 2015 year's harvest were sold in 2015. This occurred due to the specifics of organic produce market, as most of the sales are quite evenly divided from the point of harvest until the next summer.

Cost of sales

Cost of sales breakdown by type was the following: 3 month period

ended 31 March
2017 2016
Mushrooms and compost 5,801 5,504
Milk cost of sales 1,700 1,559
Crop cost of sales 3,615 914
Cattle cost of sales 494 609
Other cost of sales - 71
Less: State subsidies (1,671) (1,877)
Total 9,939 6,780

The Group cost of sales increased mainly due to increased cost of crop sales. Cost of crop sales increased in-line with sales increase. Cost of sales of mushrooms and compost slightly increased despite decrease in sales due to aforementioned temporary problems in production which were solved the same quarter. State subsidies decreased due to the fact that in 2017 the Group will fully finish the convertion to ecological agriculture and the harvest of 2017 will be fully ecolocigal for which ecological subsidies are lower. In first quarter of 2017 the Group accrued a quarter of the estimated amounts of subsidies.

The Group gross profit in the first quarter of 2017 remained approximately on the same level as previuos year.

Operating expenses

Operating expenses breakdown by type of expenses was the following: 3 month period

ended 31 March
2017 2016
Payroll expenses 714 517
Social security expenses 221 160
Depreciation and amortization 172 124
Write-off of inventory - 39
Consultation services 167 87
Fuel and transportation expenses 50 82
Tax and insurance expenses 47 68
Rent and utilities 45 39
Impairment of accounts receivable - -
Other expenses 516 216
Total 1,932 1,332

(All amounts are in EUR thousand, unless otherwise stated)

Payroll expenses increased due to increased number of employees largely due acquisition of KTG group companies. Additionally the Group incurred significantly more consulting expenses due to acquisition of KTG group companies and other ongoing investment projects. Other expenses increased due to increased marketing expenses (participation in various exibitions and other events promoting AUGA brand and production).

Other income

Other income breakdown by type was the following:

3 month period
ended 31 March
2017 2016
Gain on sale of investment property - 22
Interest and fines income 32 145
Write-down of liabilities 21 5
Other income - 10
Total 53 182

No unusual significant income were obtained during the first three months of 2017. In first quarter of 2016 the Group sold investment property – agricultural land plots. Total net profit of land plots sales in first quarter of 2016 amounted to EUR 22 thousand.

Financial expenses

Financial expenses breakdown by type was the following:

3 months period
ended 31 March
2017 2016
Bank interest expenses 250 302
Debt extinguishment interest expenses - 82
Other interest expenses - 5
Currency fluctuation effect - -
Other financial expenses 21 43
Total 271 432

In first quarter of 2017 bank interest expenses were lower due decreased financial liabilities to banks after the sale of Fixed yield investment fund in December, 2016.

(All amounts are in EUR thousand, unless otherwise stated)

Fixed assets

Land Buildings Constructions
and machinery		 Vehicles,
equipment and
other property,
plant and
equipment		 Construction
in progress		 Total
Carrying amount
As at 31 December 2015		 27,021 45,004 15,098 2,005 506 89,634
- additions 1,122 149 4,848 1,203 673 7,995
- disposals and write-offs ( 242) ( 66) ( 362) ( 285) (1) ( 956)
- revaluation 822 - - - - 822
- depreciation - ( 2,072) ( 3,506) ( 480) - ( 6,058)
- reclassifications 9,636 ( 635) 635 ( 28) 28 9,636
- sale of ŽVF Group ( 24,811) - - - - ( 24,811)
As at 31 December 2016 13,548 42,380 16,713 2,415 1,206 76,262
- acquired with KTG group companies 1,946 676 1,447 429 - 4,498
- additions 639 110 463 25 - 992
- disposals and write-offs - - ( 43) - - ( 43)
- revaluation - - - - - -
- depreciation - ( 507) ( 865) ( 160) - ( 1,532)
- reclassifications - - - - - -
As at 31 March 2017 16,133 42,659 17,470 2,709 1,206 80,177
Acquisition cost as at
31 December 2015 27,021 49,768 20,784 2,881 506 100,960
31 December 2016 13,548 49,216 25,905 3,771 1,206 93,646
31 March 2017 16,133 50,002 27,527 4,225 1,206 99,093
Accumulated depreciation and
impairment losses as at
31 December 2015 - ( 4,764) ( 5,686) ( 876) - ( 11,326)
31 December 2016 - ( 6,836) ( 9,192) ( 1,356) - ( 17,384)
31 March 2017 - ( 7,343) ( 10,057) ( 1,516) - ( 18,916)
Carrying amount as at 31
December 2015		 27,021 45,004 15,098 2,005 506 89,634
Carrying amount as at 31
December 2016		 13,548 42,380 16,713 2,415 1,206 76,262
Carrying amount as at 31 March
2017		 16,133 42,659 17,470 2,709 1,206 80,177

(All amounts are in EUR thousand, unless otherwise stated)

Share capital

In April 2014 the share capital of the Baltic Champs UAB (legal subsidiary – accounting acquirer) was reversed and a legal capital of AUGA group AB (legal parent – accounting acquiree) was recognised in full amount at the date of business combination together with contribution of equity by Baltic Champs Group UAB in the form of cash payments.

The adjusted share capital of consolidated AUGA group AB is EUR 54,351 thousand as at 31 March 2017 and 31 December 2016 respectively. The share capital is divided into 187,416,252 ordinary shares, which is the number of shares issued by the Company as at 31 March 2017 and 31 December 2016.

Liabilities

The Group's long term borrowings consisted of the following:

As at 31 March
2017		 As at 31 December
2016
Borrowings from banks
Mushroom growing companies 7,699 7,905
Land management entities - -
Agricultural entities 7,512 6,558
Agricultural cooperatives 447 840
Long-term payment to 3rd parties
Long-term payable to the State 1,527 1,687
Long-term payable to creditors 4,600 2,345
Long-term payable to the investment fund for purchased land - 1,188
Total 21,785 20,523
Less: amounts, payable within one year (according to agreements) (3,130) (3,585)
Total long term borrowings 18,655 16,938

The Group owes payable amount to the State of EUR 1,527 thousand for land acquisition made by Group in 2008 - 2014. The payable amount to State is over 15 year period.

The long-term borrowings and payables are repayable as follows: As at 31 March

The long-term borrowings and payables are repayable as follows: As at 31 March
2017		 As at 31 March
2016
Borrowings from banks
Within second year 4 311 5,147
Within third and fourth year 12 782 10,708
After fifth year and later 1 562 1,083
Total 18 655 16,938

The Group's short term borrowings were the following:

As at 31 March
2017		 As at 31 March
2016
Borrowings from banks
Mushroom growing companies 2,400 2,317
Agricultural entities - -
Parent company 3,591 -
Grain selling entity 1,746 3,033
-Total short term borrowings 7,738 5,350

Short-term loans from banks include EUR 7,738 thousand (In 2016: EUR 5,350 thousand) credit-line facilities.

Information on audit

Consolidated Interim Financial Information of the Group for the 3 month period ended 31 March 2017 was not audited.

(All amounts are in EUR thousand, unless otherwise stated)

IV. THE NEWEST AND ESSENTIAL EVENTS IN THE ACTIVITY OF THE ISSUER

The newest events in the activity of the Issuer

Regulatory oversight actions regarding Valuation report of the eTime invest UAB shares

In February 2015 AUGA group AB received a letter of the Supervision Service of the Bank of Lithuania forwarding a conclusion of the Property Valuation Oversight Agency regarding the compliance of the business valuation report prepared by OBER-HAUS nekilnojamas turtas UAB on the valuation of the shares in eTime invest UAB (Report) and applied valuation methods with the provisions of the Law on the Bases of Property and Business Valuation of the Republic of Lithuania. The Property Valuation Oversight Agency provided a conclusion that the said Report did not comply with the Law on the Bases of property and Business Valuation of the Republic of Lithuania. More detailed information about this situation and its progress during year 2015-2016 is provided in the 31 December 2016 financial statements note 30.

AUGA group, AB received Decision No. 241-59 of 3 April 2017 of the Supervision Service of the Bank of Lithuania, under which: 1. The Supervision Service of the Bank of Lithuania imposed a penalty of EUR 14,000 (fourteen thousand) on AUGA group, AB, for the failure to comply with the mandatory instruction of the Bank of Lithuania to re-evaluate 100% block of shares of UAB eTime Invest, which was used as the payment for a part of the authorised capital of AUGA group, AB, and if it would established that the shares of AUGA group, AB, are not fully paid up, to ensure that this situation is rectified retrospectively according to the requirements of the law by and before 1 March 2017.

  1. To obligate AUGA group, AB, to ensure that no later than before 1 October, 2017 the fair value of 100% block of shares of UAB eTime Invest, which was used as the payment for a part of the authorised capital of AUGA group, AB, is re-evaluated in compliance with the provisions of the Law on Companies and the Law on the Bases of Property and Business Valuation, with due consideration to the significant circumstances existing prior to the date of using the shares of UAB eTime Invest as the payment for the shares of AUGA group, AB, so that the fair value of UAB eTime Invest complies with the requirements of IFRS 3. Should it be established that the shares of AUGA group, AB, are not fully paid up, to ensure that this situation is rectified retrospectively according to the requirements of the law.

In addition, Bank of Lithuania imposed administrative liability and penalty of EUR 150 on the general manager of AUGA group, AB for not ensuring that the Company complied with the aforementioned request of the Bank of Lithuania not later than by 1 March 2017 to re-evaluate 100% of shares of UAB "eTime invest", which was used as the payment for part of the authorised capital of the Company.

Manamenet of AUGA group, AB notes that AUGA group, AB disagrees with certain aspects of the decision of 15 February 2016 of the Supervision Service of the Bank of Lithuania and, therefore, contests the said decision, which obligates it to re-evaluate the fair value of 100% block of shares of UAB eTime Invest and, should it be established that the said shares are not fully paid up, to rectify the situation according to the requirements of the law, at a competent court. In spite of the pending litigation, AUGA group, AB is searching for opportunities to comply with decisions of the Supervision Service of the Bank of Lithuania to the extent such compliance is possible and in line with the AUGA group, AB position in the proceedings: on 28 February 2017, valuators agreed to repeatedly perform the evaluation of UAB eTime Invest. According to the agreement concluded with valuators, the report of the retrospective evaluation of the block of shares of UAB eTime Invest must be drawn up and submitted to AUGA group, AB within 90 working days from the date of the signature of the agreement.

The Legal challenge against the Decision of the Bank of Lithuania in the first instance court was solved on 19 December 2016. The Court ruled in favour of Regulators decisions and rejected the Company's legal challenge. In January 2017, the Company filed an appeal against this decision in the Court of Administration.

The case eventually will be solved in the Court of Adminstration and the final outcome of this litigation is not clear as at the date of issue of these financial statements. Management notes that OBER-HAUS received a ruling from the court in early 2015 indicating that the Valuation Report remains valid unless a Lithuanian court rules otherwise. While management is not aware of any legal challenges to the validity of the OBER-HAUS Valuation Report, it is possible that, during the course of considering the Company's legal challenge to the Regulator's Decision, the court could request another valuation of the eTime Invest UAB shares as at a different date or considering other key assumptions. After consultation with legal advisers management believes that there is no clear guidance or regulations that specify what should be done in the situation where shares were issued, and officially registered with the Registry of Legal Entities, and a considerable period of time later it is concluded that an underpayment for the issued shares took place due to issues relating to the valuation of the non-monetary contribution which was used to pay for the shares. The Company and its legal advisors, were not able to identify any evidence of court practices regarding such a specific issue and this appears to a situation without precedent in Lithuania. Consequently Management cannot assess the possible outcome and implications of the court case.

The financial statements of the Group and the Company continue to reflect the share capital as fully paid-up at 31 March 2017 and 31 December 2016. Management of the Company believes that it adheres to IFRS and its financial statements are transparent and reliable. Only after the final ruling of the courts in the legal challenge against the Decision case will it be

(All amounts are in EUR thousand, unless otherwise stated)

possible to evaluate what actions should be taken and what possible effects to the Company's and (or) Group's financial statements it may have.

Acquisition of KTG AGRAR Lithuanian operations

As it was discussed earlier the Group finalized the acquisition procedures of KTG AGRAR SE subsidiary companies on 31 January 2017.

Changes in the governing bodies of the Group

On 31 January 2017, the Group's shareholders changed the statutes of the Company and reduced the number of Supervisory Board members from 5 to 3 (electing former members Vladas Lašas, Rimantas Rudzkis and Liudas Navickas as new Supervisory Board members) and decreasing number of Board of Directors members from 7 to 5. On 8 February 2017, the Supervisory Board elected Kęstutis Juščius, Agnė Jonaitytė, Linas Bulzgys, Marijus Bakas, and Linas Strėlis as new members of Board of Directors.

Material events over January – May 2017:

The Company informs of all material events over the CNS system of NASDAQ OMX VILNIUS stock Exchange and on the ESPI information system which is operated by Polish FSA, as well as on Electronic Information Base which is operated by Warsaw Stock Exchange.

Announce

ment date Announcement header
05.05.2017 Bank of Lithuania imposes penalty on the general manager
28.04.2017 AUGA group, AB Annual information for the year 2016
28.04.2017
27.04.2017		 Decisions of ordinary shareholders meeting of AUGA group, AB which took place on 28 April, 2017
Draft decisions of ordinary shareholders meeting of AUGA group, AB which will take place on 28 April, 2017
(AMENDED)
07.04.2017 Regarding the decision of the Supervision Service of the Bank of Lithuania
06.04.2017 Draft decisions of ordinary shareholders meeting of AUGA group, AB which will take place on 28 April, 2017
06.04.2017 Notice on Convocation of the ordinary General Meeting of Shareholders of AUGA group, AB on 28 April, 2017
04.04.2017 Notification on the acquisition of voting rights, AUGA group, AB
28.02.2017 AUGA group, AB interim unaudited financial information for 12 months ended 31 December 2016
08.02.2017
08.02.2017		 Appointment of new management board of AUGA group
Resolutions of AUGA group, AB, with regard election of Chairman of Supervisory Board, election of members of
Management Board and Chairman of Management Board
31.01.2017 AUGA group, AB has completed acquisition of KTG AGRAR SE subsidiary companies
31.01.2017 Decisions of extraordinary shareholder's meeting of AUGA group, AB which took place on 31st January , 2017
AUGA group, AB has received a permission of the Competition Council of the Republic of Lithuania to execute a
13.01.2017 concentration and acquire KTG AGRAR SE companies
09.01.2017 Notice on Convocation of the extraordinary General Meeting of Shareholders of AUGA group, AB on 31 January, 2017
09.01.2017 Draft decisions of extraordinary shareholder's meeting of AUGA group, AB which will take place on 31st January, 2017

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