Belo Horizonte, Brazil. 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 $0.50; and a 2023 guidance of 1.4 million tonnes.
The Company’s target is detailed on a quarterly basis, reflecting the market demand’s seasonality, as follows:
|Period||Q1 2022||Q2 2022||Q3 2022||Q4 2022||FY 2022|
|Sales target (tonnes)||115,000||200,000||250,000||135,000||700,000|
The 2022 guidance is underpinned by the following assumptions:
- Grant of mining concession
- Average Brazilian Real (“R$”) 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.
For 2023, Verde’s sales volume target is 1.4 million tonnes. This target represents a potential 100% growth Year-on-Year (“YoY”).
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About Verde AgriTech
Verde is an agricultural technology company that develops and produces fertilizers. Rooting our solutions in nature, we make agriculture healthier, more productive, and profitable for farmers. We work to improve the health of all people and the planet.
Cautionary Language and Forward-Looking Statements
This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of the applicable Canadian securities legislation. The Cautionary Language and Forward-Looking Statements can be accessed at this link.
For additional information please contact:
Cristiano Veloso, President, Founder & Chief Executive Officer
Tel: +55 (31) 3245 0205; Email: email@example.com