Czech Farmtec's 2013 sales drop to EUR 43.6m

Feb 13, 2014 - Czech Farmtec, part of Agrofert Holding group, registered sales of CZK 1.2 billion (USD 59.6m/EUR 43.6m) in 2013, down by CZK 600 million compared with the previous year, Czech News Agency reported yesterday citing chief executive and board chairman Vaclav Skerik.

According to the CEO, the company’s performance has been hit by lower renewable energy subsidies. The firm intends to double its exports to some 30% during 2014 in a bid to offset the effects of the negative trend.

Farmtec, with a headcount of 200, focuses on developing and installing complete technological units for biogas stations as well as for farm animals and related activities.

(CZK 10 = USD 0.496/EUR 0.363)

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