Verde's 2022 guidance and two-year outlook revised upwards
BELO HORIZONTE, Brazil, May 03, 2022 (GLOBE NEWSWIRE) -- Verde AgriTech Plc (TSX: "NPK") (OTCQB: "AMHPF") ("Verde" or the "Company") is pleased to announce an increase in its 2022 and 2023 guidance, previously published on January 10, 20221. The new 2022 guidance provides for sales of 1,000,000 tonnes of Verde's multinutrient potassium products, BAKS(TM) and K Forte(TM) sold internationally as Super Greensand(TM) (the "Product"), with revenue of C$109.09 million, EBITDA of C$49.06 million and net earnings per share ("EPS") of C$0.87. The 2023 guidance provides for sales of 2,000,000 tonnes.
The original target for 2022 was for sales of 700,000 tonnes of Product, with revenue of $72.26 million, EBITDA of $28.43 million, EPS of $0.50. The original target for 2023 was for sales of 1,400,000 tonnes of Product. If achieved, the new revenue target for 2022 will represent a Year-on-Year ("YoY") growth of 294%.
2022 GUIDANCE
The Company's revised full year 2022 guidance is compared to the original targets and the 2021 results, as follows:
| 2021 Results
| 2022 Guidance
| Guidance
| Published March 22, 20222
| Original January 10, 2022
| Revised May 03, 2022
| EPS (C$)
| 0.07
| 0.50
| 0.87
| EBITDA (C$'000)3
| 6,450
| 28,434
| 49,065
| Revenue (C$'000)
| 27,709
| 72,263
| 109,097
| Sales (tonnes)
| 400,133
| 700,000
| 1,000,000
| The detailed quarterly targets will be updated along with Q1 2022 results, to be released on May 16, 2021.
2023 GUIDANCE
For 2023, Verde's updated sales volume target is 2,000,000 tonnes. This target represents a potential 100% growth Year-on-Year ("YoY").
Period
| FY 2023
| Guidance
| Original January 10, 2022
| Revised May 03, 2022
| Sales target (tonnes)
| 1,400,000
| 2,000,000
| On April 26, 2022, Verde announced the launch of Bio Revolution, a new technology that enables the incorporation of microorganisms to its Product.4 Verde is the first company to commercialize a fertilizer with added microorganisms. As part of the Fourth Agricultural Revolution, microorganisms are seen as a vital component in boosting plant productivity. Bio Revolution will reduce costs for farmers by sustainably increasing the productivity and profitability. Given Verde's first mover advantage, the Company is working to become world leader at offering a cost-efficient platform for adding microorganisms to agriculture.
CALL WITH CRISTIANO VELOSO, FOUNDER AND CEO
Cristiano Veloso will host a call on Monday, May 09, 2022, at 10:00 am Eastern Time, to discuss Verde in general and, more specifically, the role of the Company's new Bio Revolution technology to the Fourth Agricultural Revolution. The call will be held on Twitter Spaces. Subscribe and join the Space using the link below:
Date:
| Monday, May 09, 2022
| Time:
| 10:00 am Eastern Time
| Subscription link:
| twitter.com
| |
