Verde AgriTech Plc, the UK-based agriculture-technology company, has recently announced its financial results for 2Q20, ended 30 June 2020. The company recognised revenue of CAN$ 2,47 million, an increase of 87% compared to CAN$ 1,33 million in 2Q19. Its production increased by 139% with a total of 80,490 t mined, compared to 33,671 t in 2Q19. The company’s sales increased by 202% with a total of 71,183 t sold, compared to 23,600 t in 2Q19, while generating a net profit of CAN$ 443,525, compared to a net loss of CAN$ 222,657 in 2Q19. Its gross margin increased by 12%, with a total of 62% in 2Q20 compared to 50% in 2Q19.
Nutrien Ltd, a Canadian fertilizer company based in Saskatoon, Saskatchewan, has recently announced its 2Q20 results, with net earnings of US$765 million, which amounts to US$1.34 diluted earnings per share. 2Q20 adjusted net earnings were US$1.45 per share and adjusted EBITDA was US$1.72 billion. Adjusted net earnings per share and adjusted EBITDA, together with the related guidance, free cash flow including changes in non-cash operating working capital and cash cost of product manufactured are non-IFRS financial measures. “Nutrien delivered compelling 2Q20 and 1H20 results supported by strong growth in our Retail Ag Solutions earnings and excellent operational performance across our potash and nitrogen business units,“ Chuck Magro, Nutrien’s President and CEO, commented. „We now expect to reach US$1 billion in online orders by the end of the year and are introducing new data-driven offerings to help farmers make quicker and more informed decisions for their business.”
EuroChem Group AG, a leading global fertilizer company headquartered in Zug, Switzerland, has recently reported consolidated half-year sales of US$3.0 billion for 1H20 and sales volumes of 12.5 MMT, 6% higher than a year ago. EuroChem achieved EBITDA of US$830 million in 1H20, 1% ahead of the same period in 2019, reflecting the company’s resilience and its ability to deliver a strong performance, despite the effects of the Covid-19 pandemic. The improvement was underlined by a 1% point increase in EBITDA margin to 28% during the period. For the six months to 30 June 2020, the Group generated a cash flow from operating activities of U$714 million, 26% above the corresponding period in 2019, with positive free cash flow of US$338 million. Capital expenditure decreased by 18% to US$382 million, reflecting the eased investment cycle and a more prudent approach to investments on the back of global economic turbulence caused by the pandemic outbreak. Operating cash flow remained strong despite the current market environment, covering capital commitments by 1.9 times
