WOOD Flash – AUGA Group: presents new business model
Yesterday (25 May), AUGA presented the key principles of a new business model, and detailed the steps needed to achieve its strategy goals more effectively. A new company, AUGA Community, has been formed, comprised of three business units: AUGA Tech, AUGA SOFA, and AUGA Trade, consolidating all activities, focused on developing, sharing and monetising the company’s products and services, based on the idea of sustainable, organic food production and a healthy lifestyle. The new business model will be introduced and tested in Lithuania first. It will then be expanded abroad, to developed markets. Apart from new details on the development pipeline, AUGA also announced that it plans to raise funds, starting in 4Q23E, likely from a mix of equity, Green Deal funds and bank financing, targeting up to EUR 200m in total within the next two years – a significant amount, given the current market cap of EUR 102m and EV of around EUR 215m.Auga Group AB. Auga Group AB, formerly Agrowill Group AB, is a Lithuania-based company engaged in the agriculture sector. The Company's activities are structured mainly into three divisions, namely Mushroom-growing, Plant production and Livestock production. The Company offers white, brown, portabella, eryngii, pleurotus and shiitake mushrooms. It specializes in organic wheat and other crops, including organic vegetables and organic feed for livestock in its farms. The Company supplies potatoes, beetroots, onions, carrots, marinated champignons, marinated beetroots, among others. The Company operates own trademark AUGA. In addition, the Company is involved in own farms management. The Company has numerous subsidiaries, including UAB Arginta Engineering, UAB AVG Investment and UAB Agro GIS, among others. It operates domestically on the Lithuania territory.
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