Alpcot Agro AB Half Year Report 2009

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The interim report for the first six months of 2009 has been approved by the Board of Directors and is available on the Company’s website www.alpcotagro.com. The most important figures are highlighted below. (Numbers within brackets refer to the period 1 January – 30 June 2008 unless otherwise stated.) • Total revenue and gains amounted to SEK 215,672 (81,699) thousand, of which SEK 126,766 (71,819) thousand was a gain from changes in fair value of biological assets at the end of the period. • During the period operating loss amounted to SEK -53,414 (–25,361) thousand and loss for the period amounted to SEK –47,999 (–27,897) thousand. • Earnings per share amounted to SEK -1.63 (–1.30). Equity per share as of 30 June 2009 was SEK 37.74 (43.23). • Due to further consolidation in the Kursk region, the agricultural land under control in Russia increased to 161,000 (133,000) hectares, of which approximately 91,000 (78,000) hectares were owned by the Group, directly or indirectly. See definitions below. One farm in Voronezh has been divested. • The planted area in Russia and Ukraine in the agricultural year 08/09 amounted to approximately 74,900 (55,600) hectares and 6,100 (-) hectares, respectively. • The Group has changed its presentation of the Income Statement from function of expenses to nature of expenses in order to provide a more transparent picture of the Group’s performance. • In March, the Company raised SEK 65 million in a convertible bond issue directed towards institutional investors. • After the end of the period, the Company announced plans to apply for a listing on NASDAQ OMX First North during the autumn 2009. • At the time of the report several subsidiaries of the Group have already completed the harvesting and others are still in the progress of harvesting the crops in their respective regions of operation. Stockholm, 31 August 2009 Alpcot Agro AB (publ) The Board of Directors For further information please contact: Björn Lindström, Managing director +44 (0) 79798 55556 Definitions of land in control and land in ownership: Land in control is registered land and land where a subsidiary of the company, either itself or in the name of agents, has registered a lease agreement or is in the process of registering a lease agreement with local authorities. Land in ownership is registered land and the indirect ownership of land within the Russian Pai system. The Pais can be registered either in the company's subsidiary's name or in the name of an agent acquiring Pais on behalf of the company's subsidiary within the framework of legally binding contracts, or is in the process of entry into the land register with local authorities.