Business
Verde Announces Q1 2025 Results
(All figures are in Canadian dollars, unless stated otherwise. Average exchange rate in Q1 2025: ...
About this update from Verde Agritech Ltd
[{"type":"text","content":"Verde Announces Q1 2025 Results\n\n\n\n (All figures are in Canadian dollars, unless stated otherwise. Average exchange rate in Q1 2025: C$1.00 = R$3.93)\n \n\n SINGAPORE, May 15, 2025 (GLOBE NEWSWIRE) --\n \n Verde AgriTech Ltd\n \n (TSX: “NPK”) (\"\n \n Verde\n \n ” or the “\n \n Company\n \n ”) announces its financial results for the period ended March 31, 2025 (“\n \n Q1 2025\n \n ”).\n \n\n As previously disclosed on March 28, 2025\n \n 1\n \n , product deliveries for the first half of 2025 were significantly impacted by the severe crisis in the Brazilian agricultural sector, which led to the insolvency of some of the country’s largest agricultural input suppliers and farming operations.\n \n\n Looking ahead to the second half of 2025, Verde is experiencing a recovery in orders as overall market credit risk declines, enabling stronger sales performance. In 2025, up to date, the Company has approved and delivered volumes equivalent to over 70% of the total delivered throughout the entire year of 2024. From January to May 2025, confirmed orders are 40% higher compared to the same period in 2024, reflecting a significant acceleration driven by increased credit approvals.\n \n\n “With our installed capacity, Verde can supply around 4% of Brazil’s potash demand—a modest share in a market worth over 6 billion dollars annually. This reflects not a limitation, but the scale of the opportunity ahead, which we are positioned to pursue with no need for further investment,” said Cristiano Veloso, Verde’s Founder & CEO.\n \n\n “We went through years of accelerated growth, which were abruptly interrupted by a major crisis. Now, we are focused on regaining our growth trajectory, with the near-term goal of at least reaching full capacity at our existing plants,” Mr. Veloso added.\n \n\n\n Q1 2025 Highlights\n \n\n\n\n Operational and Financial Highlights\n \n\n\n\n Verde's sales volume in Q1 2025 was 48,000 tons; a 44% reduction compared to Q1 2024. Additionally, revenue had a 44% decrease compared to Q1 2024, with $2.9 million in Q1 2025.\n \n\n Cash held by the Company decreased by $0.7 million, from $3.2 million in Q1 2024 to $2.5 million in Q1 2025. Additionally, the Company has $7.7 million in short-term receivables. The total ...