Verde announces 2022 guidance and two year outlook
BELO HORIZONTE, Brazil, Jan. 10, 2022 (GLOBE NEWSWIRE) -- Verde AgriTech Plc (TSX: “NPK”) (OTCQB: “AMHPF”) (“Verde” or the “Company”) is pleased to announce its 2022 guidance of 700,000 tonnes production, with sales of $72.3 million, EBITDA of $28.4 million, net earnings per share (“EPS”) of $0.50; and a 2023 guidance of 1.4 million tonnes.
2022 Guidance
The Company’s target is detailed on a quarterly basis, reflecting the market demand's seasonality, as follows:
Period
| Q1 2022
| Q2 2022
| Q3 2022
| Q4 2022
| FY 2022
| Sales target (tonnes)
| 115,000
| 200,000
| 250,000
| 135,000
| 700,000
| Revenue ($’000)
| 10,070
| 21,954
| 27,228
| 13,011
| 72,263
| EBITDA ($’000)
| 1,358
| 10,155
| 13,414
| 3,506
| 28,434
| EPS ($)
| 0.02
| 0.18
| 0.25
| 0.06
| 0.50
| The 2022 guidance is underpinned by the following assumptions:
Grant of mining concession
Average Brazilian Real (“R$”) to Canadian dollar exchange rate: C$1.00 = R$4.40
Average KCl CFR Brazil of US$500, compared to current price of US$760 per tonne (as per the market intelligence firm Acerto Limited weekly price as of December 3, 2021).
Sales Incoterms: 50% CIF and 50% FOB Sales channels: 50% direct sales and 50% indirect sales
“Over the previous years, seeing that we were producing and selling a new product, our guidance was limited to volume and revenue. From 2022 onwards we are pleased to add EBITDA and EPS to Verde's guidance,” said Cristiano Veloso, Verde’s Founder and CEO.
2023 Guidance
For 2023, Verde’s sales volume target is 1.4 million tonnes. This target represents a potential 100% growth Year-on-Year (“YoY”). |
