“Growth was driven by outstanding performance in microgranular fertilizers, as well as inoculants, adjuvants and other third-party products,” the company said in a statement.
The leading company in agricultural biotechnology in Latin America, announced a agreement with Syngenta Seedcare for the development and commercialization of certain biological treatments for seeds.
“This will drive the category’s global expansion, sustaining double-digit growth, and provide a minimum profit-sharing base over the life of the deal,” the company said in a statement.
Revenue comparison is made on pro forma figures for 1Q22, which include Pro Farm’s historical revenue.
Adjusted EBITDA for the quarter was $24.5 million, nearly double last year’s quarterly result, reflecting strong growth in revenue and gross profit.
“In 1Q23 we have closed two transactions that provide us with an unrivaled platform for future growth in organic agricultural inputs, positioning our company as a clear leader in sustainable solutions for the agriculture of the future. With the integration of Pro Farm (formerly Marrone Bio Innovations), we now have a portfolio of products designed to replace or significantly reduce the use of synthetic chemicals,” added Trucco.
Enrique Lopez Lecube, CFO of Bioceres and Bioceres Crop Solutions, added “Despite the climatic conditions that currently affect producers in an important market for us such as Argentina, the solid results obtained in the first quarter and the diversification of income that we achieved through the merger with Pro Farm, make us feel confident about growth prospects for the full fiscal year.”
Source: Ambito
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