Business
Q4 & Full Year 2022 Sales & 2023 Guidance
Q4 & Full Year 2022 Sales & 2023 Guidance.
About this update from Harvest Minerals Limited
[{"type":"text","content":"\n \n \n Harvest Minerals Limited / Index: LSE / Epic: HMI / Sector: Mining\n \n \n 24 January 2023\n \n \n \n Harvest Minerals Limited ('Harvest' or the 'Company')\n \n \n \n \n \n \n \n \n \n Q4 & Full Year 2022 KP Fértil® Sales Performance and 2023 Guidance\n \n \n \n \n \n \n Harvest Minerals Limited, the AIM listed fertiliser producer, is pleased to provide an update on sales of its organic, multi-nutrient fertiliser, KP Fértil®, from its 100% owned Arapuá Fertiliser Project in Brazil ('Arapuá') during Q4 2022 and FY 2022.\n \n \n \n \n \n \n Highlights\n \n \n \n ·\n Total sales orders received for 2022 was 172,000 tonnes\n \n \n ·\n 79% year-on-year ('YoY') increase in FY 2022 invoiced sales to 150,422 tonnes KP Fértil®\n \n \n ·\n 83% Compound Annual Growth Rate ('CAGR') in invoiced sales over the last three years\n \n \n ·\n Targeting invoiced sales of 200,000 tonnes in 2023 - a 33% increase over that recorded in 2022\n \n \n ·\n Strong sales pipeline with current clients and new prospects\n \n \n \n \n \n \n Brian McMaster, Chairman of Harvest, said:\n \n \"2022 was another great year for Harvest, whereby we exceeded our ambitious sales order target of 150,000 tonnes KP Fértil, with total sales orders received reaching 172,000 tonnes, of which 150,000 tonnes was delivered and invoiced; this represents a 79% YoY increase in invoiced sales and a 83% CAGR over the last three years.\n \n \n \n \"Previously, the Company has reported sales orders received. This has created confusion because the value of sales orders may not reconcile with the value of product delivered and invoiced. To eliminate this confusion, the Company will only report invoiced sales, as opposed to sales orders. \n \n \n \n \n \"Given the rate of our continued growth, we fast-tracked our expansion plans, including the development of our product storage and drying capacity area, and accordingly we are now ideally positioned to supply even more product to the rapidly growing market in 2023 and beyond. \n \n \n \n \n \n \n \n \n \n \"Our growth is due to a number of factors , notably, as clients progressively recognise the benefits of using KP Fértil®, including its quality and value, we have seen repeat/increasing orders while adding new clients to our list at a faster pace. With a high rate of ...