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Adecoagro S.A. (NYSE: AGRO) is a leading agricultural company based in Luxembourg, with extensive operations across South America, specifically in Argentina, Brazil, and Uruguay. The company focuses on sustainable production across various sectors, including farming crops, dairy, sugar, ethanol, energy production, and land transformation.
Core Business Segments:
- Farming: This segment involves the planting, harvesting, and sale of grains, oilseeds, fibers, and rice. It also includes dairy operations with a focus on milk production and sales.
- Sugar, Ethanol, and Energy: Adecoagro cultivates sugarcane, which is then processed in its owned mills to produce sugar and ethanol. The company also generates renewable energy from these operations.
- Land Transformation: This segment entails the acquisition and development of underutilized farmland, enhancing its productivity and value.
Adecoagro operates over 210.4 thousand hectares of farmland and multiple industrial facilities. These operations produce over 2.8 million tons of agricultural products and generate more than 1 million MWh of renewable electricity annually.
Recent Achievements:
- Filing of Form 20-F for the fiscal year 2023 with the SEC, highlighting robust financial performance and sustainability efforts.
- Approval of a $17.5 million cash dividend distribution, reflecting strong shareholder returns.
- Record quarterly results with significant increases in sugarcane crushing volumes and sugar production.
- Completion of significant farmland sales at premiums to independent appraisals, showcasing successful land transformation projects.
Financial Performance:
The company reported an all-time high Adjusted EBITDA of $476.6 million for 2023, a 10.1% increase year-over-year, driven by strong performances in its Rice and Sugar, Ethanol, and Energy segments. The net debt was reduced by 25.9% to $502.5 million, achieving a net debt/Adjusted EBITDA ratio of 1.1x.
Commitment to Sustainability:
Adecoagro is dedicated to reducing its carbon footprint by 20% by 2030, leveraging innovative agricultural practices and sustainable energy production.
For further details and the latest updates, visit the Investors section on Adecoagro's website.
Adecoagro (NYSE: AGRO) reported mixed financial results for Q3 2024. Gross sales increased 17.7% in Q3 and 6.3% year-to-date, driven by higher volumes despite lower commodity prices. However, Adjusted EBITDA declined 28.6% in Q3 and 10.5% year-to-date. The company committed $96.3 million to shareholder distributions, including a $35 million annual dividend and $61.3 million in share repurchases. The second dividend installment of $17.5 million ($0.1740 per share) will be paid on November 27th. The company's farmland portfolio was independently valued at $682.6 million, showing a 0.4% year-over-year increase.
Adecoagro (NYSE: AGRO) has announced its second cash dividend distribution of $17.5 million, equivalent to approximately $0.1740 per share. The dividend will be paid to shareholders of record as of November 12, 2024, with payment scheduled for November 27, 2024. This represents the second tranche of a two-installment dividend plan, with the first equal payment made on May 29, 2024, bringing the total annual dividend to $35 million.
Adecoagro S.A. (NYSE: AGRO) reported its Q2 2024 results, showing mixed performance across its business segments. Adjusted EBITDA increased by 2.7% year-over-year to $140.0 million in Q2, driven by strong performance in the Crops segment and improved Dairy operations. However, the Sugar, Ethanol & Energy business saw an 8.5% decline in Adjusted EBITDA due to lower commodity prices.
Key highlights include:
- Gross sales down 2.3% in Q2 due to lower commodity prices
- Strong crushing pace and volume recovery in Farming
- Year-to-date shareholder distribution of $86.4 million, exceeding policy minimum
- Successful sale of La Pecuaria farm, generating $15.3 million in Adjusted EBITDA
- Continued share repurchase program, with 5.2 million shares bought back year-to-date
Adecoagro S.A. has announced the early results of its cash tender offer for up to US$100 million aggregate principal amount of its 6.000% Senior Notes due 2027. As of the Early Tender Date on August 2, 2024, US$83,656,000 in aggregate principal amount of Notes had been validly tendered. The company will accept all validly tendered Notes and make payment on the Early Settlement Date of August 6, 2024.
Holders who tendered by the Early Tender Date will receive the Total Consideration of US$980.00 per US$1,000 principal amount, which includes an Early Tender Premium of US$30.00. The Tender Offer is not oversubscribed at this point. The offer expires on August 19, 2024, unless extended or terminated earlier.
Adecoagro S.A. (AGRO) has launched a cash tender offer for up to $100 million of its 6.00% Senior Notes due 2027. The offer includes a Total Consideration of $980 per $1,000 principal amount for notes tendered by the Early Tender Date of August 2, 2024. This consists of the Tender Offer Consideration of $950 plus an Early Tender Premium of $30. Notes tendered after the Early Tender Date but before the August 19, 2024 expiration will receive only the $950 Tender Offer Consideration. The company may purchase early tendered notes two business days after the Early Tender Date. If oversubscribed, notes will be accepted on a prorated basis.
Adecoagro S.A. (NYSE: AGRO) announced its Q1 2024 financial results. Key highlights include adjusted EBITDA of $90.1 million, a 1.1% increase from Q1 2023. Gross sales rose by 2.6% due to higher sugar production and increased rice prices. Adjusted net income was $23.3 million, down 40.1% from the previous year. Net debt reduced by 23.0% to $639.2 million, with a net debt to LTM adjusted EBITDA ratio of 1.3x.
The Sugar, Ethanol & Energy segment saw a 47% increase in crushing volumes but a 32% decrease in adjusted EBITDA to $51.9 million due to lower sugar prices and higher freight costs. The Farming business reported a $44.0 million adjusted EBITDA, up $25.5 million YoY, driven by gains in the rice, crops, and dairy segments. The company announced a $35 million cash dividend for 2024 and a $20.7 million farmland sale in Uruguay.
Adecoagro S.A. announced a cash dividend distribution of $17.5 million, equating to approximately $0.1682 per share for shareholders as of May 14, 2024. The first installment will be paid on May 29, 2024, with a second installment scheduled for November 2024. Adecoagro is a prominent sustainable production company in South America, owning vast farmland and industrial facilities in Argentina, Brazil, and Uruguay.
Adecoagro S.A. (NYSE: AGRO) announces the filing of its Form 20-F for the fiscal year 2023 with the SEC. Shareholders can access the document online or request a hard copy from the investor relations team. For more information, visit the Company's website.
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