Verde achieves 782% EBITDA and 362% revenue growths in Q2 2022
GLOBE NEWSWIRE
Ago 10, 2022
Belo Horizonte, Brazil. Verde AgriTech Ltd (TSX: “NPK”) (“Verde” or the “Company”) is pleased to announce its financial results for the second quarter of 2022 (“Q2 2022”).
Q2 2022 FINANCIALS
Revenue increased by 362% in Q2 2022, to $24,861,000 compared to $5,376,000 in Q2 2021.
Revenue in Brazilian Real ("R$") increased by 327% in Q2 2022, to R$99,185,000 compared to R$23,215,000 in Q2 2021.
Sales of Verde's multinutrient potassium products, BAKS(TM) and K Forte(TM) sold internationally as Super Greensand(TM) (the "Product") by volume increased by 112% in Q2 2022, to 202,255 tonnes, compared to 95,551 tonnes sold in Q2 2021.
Gross margin increased to 79% in Q2 2022, compared to 72% in Q2 2021.
EBITDA before non-cash events increased by 782% in Q2 2022 to $10,765,000, compared to $1,220,000 in Q2 2021.
Net profit increased by 3426% in Q2 2022, to $9,625,000 compared to $273,000 in Q2 2021.
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Verde achieves 782% EBITDA and 362% revenue growths in Q2 2022 - Verde AgriTech |
