Duslo Sala losses
Chemicals producer Duslo Sala, belonging to the Agrofert Holding group of entrepreneur Andrej Babis, posted a loss of EUR 12.8m in 2009, which was the biggest loss of Babis’ group of companies. In 2008 Duslo reported a profit of EUR 23.3m, but the company’s sales were down almost 34% y/y to EUR 284.7m.
Agrofert Holding put the bad results down to the economic crisis, which saw conditions in the organic and non-organic chemistry fields deteriorate substantially. Even though sales of industrial fertilisers comprised 94% of the 2008 level in terms of volume, in financial terms they generated just 58% of the revenues seen in 2008.