Babiš's Agrofert must repay nearly CZK 35 billion in short-term loans within a year

Agrofert, the holding company founded by Prime Minister Andrej Babiš, once again increased its debt load in 2025. According to the group's consolidated annual report, its bank financing rose by 12% over the year to reach CZK 44.3 billion. While long-term loans decreased, short-term borrowing due within a year jumped by almost 20% to CZK 34.5 billion.

Agrofert's bank loans grew by CZK 4.7 billion over the year — a figure roughly comparable to the CZK 5.5 billion in dividends Babiš withdrew from the holding at the end of last year, shortly before transferring his stake to the RSVP Trust. At the same time, Agrofert invested CZK 12.9 billion across all the countries where it operates.

Who is lending to the holding

As in previous years, Agrofert's largest creditor remains Komerční banka (part of France's Société Générale group), to which the holding owed CZK 8.3 billion at year-end, or 18.6% of its total bank debt. Česká spořitelna comes second, with loans worth CZK 3.7 billion.

The report also notes that seven companies within the group failed to meet the banking conditions attached to their loans and, by the end of 2025, had not received bank approval for waivers on these requirements. The loans in question total CZK 2.5 billion. This year alone, Agrofert companies have already secured CZK 1.9 billion worth of relief on credit terms from banks. The Agrofert group as a whole comprises more than two hundred companies.

"We don't comment on individual steps in managing our debt. Loan terms are a trade secret. In general, we can say that Agrofert's loan portfolio reflects the concern's current strategy and the situation on the financial market. We always act in good faith and try to obtain the most favourable terms available on the market," said Agrofert spokesman Pavel Heřmanský.

Despite the rise in debt, servicing it has become cheaper: while the holding paid CZK 2.8 billion in interest in 2024, last year that figure fell to CZK 1.9 billion.

Major investments and projects

Among Agrofert's key investments this year was the purchase of an ammonia import and storage terminal at the port of Rotterdam. Ammonia is a key raw material for fertiliser production, one of the pillars of the holding's chemical business. The preliminary value of the deal, which Agrofert announced back in 2025, was around CZK 7.3 billion.

"Among the most significant planned projects are the launch of construction of a new baking line at the German company Lieken Brot, the start of a biogas production project at Ethanol Energy, the completion of a new baking line for McDonald's in Germany, the completion of a new poultry slaughterhouse in Vodňany, continued construction of a toast bread line in Hungary, and investments in emission-reduction systems at the Lovochemie and SKW Piesteritz plants," Agrofert's annual report states.

The consolidated profit of the holding, which operates in agriculture, food production and chemicals, fell by CZK 4.9 billion year-on-year, to CZK 2.2 billion. The decline is attributed to a high comparison base: in 2024, Agrofert sold the Mafra media group, the Londa radio station and the Synthesia chemical plant in Pardubice. Compared with 2023 figures, last year's profit is at a similar level.

The holding's revenue reached CZK 212.2 billion over the year — about half a billion more than the year before. Two-thirds of its revenue, according to Agrofert, comes from sales abroad.

Source: seznamzpravy.cz