Introducing IFRS
at DN AGRAR Group
|
A step toward greater transparency and global comparability
|
✅ As DN AGRAR Group S.A. continues its development as a leading integrated agri-food and dairy producer in the European Union, transparency, comparability, and alignment with international best practices remain central to our strategy.
✅ In this context, the Group has taken an important step forward by restating the consolidated financial results starting January 1st, 2024, in accordance with International Financial Reporting Standards (IFRS). This initiative supports the company’s objective of transferring its shares to the Main Market of the Bucharest Stock Exchange in the first half of 2027.
|
✅ The 9M 2025 financial information marks another milestone in this transition, ahead of the expected presentation of the preliminary financial results for 2025 that will be published according to both GAAP and IFRS at the end of February. These financial statements have been prepared as special purpose financial statements, comprising the Statement of Comprehensive Income, the Statement of Financial Position, and the Statement of Changes in Equity. Their primary objective is to provide investors with a clearer, more internationally comparable view of the Group’s financial position and performance under IFRS.
|
✅ The adoption of IFRS is a strategic choice. IFRS is the most widely recognized financial reporting framework globally, used by listed agricultural, food, and dairy companies across the EU and international capital markets. By aligning our reporting with IFRS, DN AGRAR enhances comparability with peer companies, supports its long-term capital markets strategy, and meets the expectations of international investors, without altering the underlying economics or cash flows of the business.
|
✅ A key difference between Romanian GAAP and IFRS lies in the measurement basis. While Romanian GAAP relies predominantly on historical cost, IFRS places greater emphasis on fair value, particularly for biological assets and agricultural activity. Fair value reflects current market conditions and the real economic value of assets, offering a more accurate and forward-looking representation of the Group’s operations. This approach better captures the performance of an agricultural business operating in dynamic commodity and livestock markets.
|
Mihaela Nicula
CFO
DN AGRAR Group:
"Under IFRS, the applicable measurement method depends on the specific standards applied.
In DN AGRAR’s case, the fair value approach is not optional but mandatory for the main components of the business.
|
The Group holds significant biological assets, which fall under IAS 41 Agriculture. This standard requires biological assets to be measured at fair value less estimated costs to sell, except in rare cases where fair value cannot be reliably determined. IAS 41 therefore has the most significant impact on the Group’s financial statements and place a central role in DN AGRAR’s core agricultural operations.
In addition, for property, plant and equipment such as land and buildings, accounted for under IAS 16, the Group also applies the fair value (revaluation) model, supported by an independent external revaluation process performed every three years. While IFRS allows certain standards to be applied using a historical cost model, this is not applicable to DN AGRAR’s main asset base, given the nature of the assets and their significant impact on the financial statements.
A key difference between Romanian GAAP and IFRS therefore lies in the measurement basis. While Romanian GAAP relies predominantly on historical cost, IFRS through standards such as IAS 41 and IAS 16 allows measurements of certain assets at fair value, reflecting current market conditions and the real economic value of assets. This results in a more accurate, transparent, and relevant representation of the Group’s operations, particularly in an agricultural business exposed to dynamic commodity and livestock markets."
|
More details about the approach and
the consolidated financial results in accordance to IFRS are available in the Report.
|
✅ In presenting the Statement of Comprehensive Income, the Group has elected to classify expenses by function, further aligning its reporting with international best practice and improving the clarity of operational performance for investors.
✅ IFRS adoption is therefore not just a change in accounting standard, it is a reflection of DN AGRAR’s maturity, ambition, and commitment to providing investors with high-quality, transparent, and globally comparable financial information.
|
February 23rd, 2026
Publication of 2025 Preliminary Financial Results
|
February 24th, 2026
Teleconference presenting the 2025 Preliminary Financial Results
|
During the Ordinary General Meeting of Shareholders (OGMS) on January 16th, the shareholders approved the financing plan for the development of a skimmed milk and cream processing plant. The investment of EUR 3,500,000 will be funded through a credit facility from Exim Banca Românească.
|
DN AGRAR published the financial calendar for 2026.
|
DN AGRAR published the key operational indicators for 2025.
|
Peter de Boer, CEO and Board Member of DN AGRAR, gave an interview to Termene.ro, in which he detailed the plans for 2026, spoke about expanding operations and strengthening the company's position abroad, as well as advancing investments at the group level.
The full interview is available HERE.
|
Peter de Boer, CEO and Board Member of DN AGRAR, on Forbes magazine: ”2025 was about strategic growth, accelerated but well anchored in reality. We are a growth-oriented company, guided by innovation, sustainability, and disciplined execution.”
|
DN AGRAR is the largest dairy milk producer in Europe and one of the leading integrated agrifood company in Romania, listed on the Bucharest Stock Exchange since 2022.
The Group operates an integrated business model focused on milk production, crop cultivation, organic composting and green energy, supporting a sustainable, circular agriculture.
With five large-scale farms and a livestock base of approximately 18,000 heads, it delivers over 70 million liters of milk per year, with the goal to double the production to 150–200 million liters annually by 2030.
DN AGRAR Group manages more than 10,000 hectares of farmland and two compost facilities with a capacity of 14,000 tons of organic fertilizer per year, aiming to increase this to 40,000 tons by 2030.
The Group has tripled its business in just three years since going public and now targets a doubling of EBITDA by 2030, alongside the ambition to produce net-zero milk.
To support its growth as a regional leader in premium dairy and food production, DN AGRAR Group’s 2030 strategy combines the doubling of milk production capacity with expansion into complementary business segments.
|
These include vertical wheatgrass farms, expected to supply 25% of the current feed input, biomethane production in partnership, industrial greenhouses, and expanded composting infrastructure. Together, these initiatives are designed to enhance operational performance and efficiency, being also enables for the development of industrial clusters and projects for increasing milk value.
Founded as a family business in 2008 by Jan Gijsbertus de Boer, DN AGRAR Group operates in the heart of Transylvania, with activities spanning in tree counties - Alba, Sibiu, and Hunedoara. Listed on the AeRO market of the Bucharest Stock Exchange since February 2022, the company is included in the BETAeRO local index, as well as in the international indices MSCI Frontier IMI and MSCI Romania IMI (Small Cap category).
|
INVESTOR RELATIONS CONTACT
|
DN AGRAR Group Romania, No. 1, Iuliu Maniu, Alba-Iulia, Alba 510094, Romania
|
|
