Business
Bioceres Crop Solutions Reports Fiscal Fourth Quarter and Full-Year 2021 Operational and Financial Results
4Q21 comparable revenues increased by 39% YoY and 13% for FY21, with LTM Adjusted EBITDA at $48.3m, excluding HB4 contributed goods HB4 contributed goods
About this update from Bioceres Crop Solutions Corp.
[{"type":"text","content":"\n4Q21 comparable revenues increased by 39% YoY and 13% for FY21, with LTM Adjusted EBITDA at $48.3m, excluding HB4 contributed goods \n\nHB4 contributed goods total $8.3m for FY21, a 295% increase YoY\n\nCollaboration with GDM expanded to North America for HB4 Soy under shared product development and commercialization effort\n\n ROSARIO, Argentina--(BUSINESS WIRE)--\nBioceres Crop Solutions Corp. (“Bioceres”) (NASDAQ: BIOX), a fully-integrated provider of crop productivity solutions designed to enable the transition of agriculture towards carbon neutrality, has reported its financial results for the fiscal fourth quarter and fiscal year ended June 30, 2021. Financial results are expressed in U.S. dollars and are presented in accordance with International Financial Reporting Standards. All comparisons in this announcement are year-over-year (“YoY”), unless noted otherwise.\n\nFISCAL FOURTH QUARTER FINANCIAL & BUSINESS HIGHLIGHTS\n\n\nComparable revenues up 39% to $72.4 million in the fourth quarter of fiscal 2021, with adjusted EBITDA up 13% to $16.6 million for the period. Momentum consolidated in 4Q21 confirming a very strong second half to FY21, driven predominantly by micro-beaded fertilizers sales and the reorganization of the Crop Protection business.\n\n\n\nHB4 Wheat planted in 55,000 hectares with contributed goods totaling $6.4 million. The value of these contributed goods will be recognized as revenues once the realized inventories are sold as seed or grain, but no longer contributed. The current multiplication area represents a 7.8X increase over last year’s effort, including varieties adapted to 75% of Argentina’s addressable market. The number of participating growers increased 8X, with 95% of participants onboarding digitally.\n\n\n\nHB4 Soy harvest completed in 23,000 hectares. Trait performance aligned with expectations in highly restricted environments, while germplasm drag affected performance in moderate to highly productive environments. Germplasm drag reduced to less than one third in second generation varieties when compared to first generation materials (-11% vs -3%). Experimental third generation materials showed no drag when compared to top performing commercial varieties. Average performance improved by 12% when HB4 Soy was used as second crop to wheat. As third generation materials are fast-tracked to ...