Gross profit increased by 32% compared to the same quarter of the previous year, reaching US$41.4 million. While that comparable for the full fiscal year posted a record $136.9 million, 45% more compared to fiscal year 2021.
For his part, the Adjusted EBITDAexcluding pre-launch costs of HB4, reached US$61.9 million in fiscal year 2022, an increase of 24% compared to the previous fiscal year.
Among the most important achievements of the company in 2022, stand out key authorizations, including the approval of the Chinese Ministry of Agriculture for HB4 soybeans and the favorable conclusion of the US Food and Drug Administration (FDA) on the safety evaluation of HB4 wheat. Other approvals for HB4 wheat included Brazil, Colombia, Australia, New Zealand and Nigeria.
Federico TruccoCEO and CEO of Bioceres, commented on this: “We are very proud of the performance of our teams in the fourth quarter and the full fiscal year 2022. This last quarter was particularly challenging as we are comparing to a record quarter last year (4Q21) when we grew close to 40% from 4Q20. “.
“This is an incredible close to an incredible year, not only reflected in our record financials, but also in terms of achieving key regulatory approvals such as HB4 wheat in Brazil and HB4 soybeans in China. We are reporting for the first time revenue associated with HB4 technology, as a result of the one crop where we face the most skepticism: HB4 wheat.This technology is now not only greenlit by a growing number of regulators, including the US FDA, but also by growers, stakeholders industry and consumers”, he added.
One of the most relevant projectsunderstands the Completed merger with Marrone Bio Innovations, Inc. (now ProFarm Group) on July 12, 2022, whose integration process is still underway.
To its turn, Enrique Lopez Lecube, CFO of Biocereshe pointed: “We continue with our outstanding performance during the fourth quarter, closing a great fiscal year. We achieved 62% annual growth with our initial HB4 revenue of $12.4 million. We also executed a transformational merger with Marrone Bio Innovations, which significantly enriches our biologics portfolio, diversifies our revenue streams and broadens our sources of growth.”
Although they fell on the day, the shares of Bioceres Crop They bounced on the Wall Street aftermarket by 3.1% and traded at US$14.46. So far this year, the papers of the Argentine company advance 20%, surpassing the technological index nasdaq (accumulates a drop of 24%).
Source: Ambito
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