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Verde AgriTech Plc (OTCQB: AMHPF) reported significant financial growth in Q1 2022, with revenue soaring by 1,260% to $11,304,000 from $831,000 in Q1 2021. Sales volume increased by 574%, totaling 111,667 tonnes. Gross margin improved to 77% from 41%, while net profit reached $3,033,000, a turnaround from a net loss of $1,811,000. The company has also raised its 2022 sales target to 1,000,000 tonnes. Verde plans to expand production capacity through its new Plant 2, expected to start in Q3 2022, making it Brazil's largest potash producer.
Verde AgriTech Plc (AMHPF) reported outstanding financial results for Q4 and FY 2021, with Q4 revenue soaring by 391% to $10.85 million, driven by a 137% increase in sales volume. The company achieved a gross margin of 75% and a net profit of $1.88 million in Q4, compared to a net loss in the previous year. For FY 2021, total revenue rose 202% to $27.71 million, with net profit increasing 540% to $3.52 million. Verde's expansion strategy includes a new mining concession and increased production capacity, while it plans a shareholder profit-sharing program.
Verde AgriTech Plc (AMHPF) reported a remarkable financial performance for Q3 2021, featuring a 169% increase in revenue to $10,651,000, up from $3,956,000 in Q3 2020. Gross margin rose to 77% from 67% year-on-year. Net profit reached $3,183,000, reflecting a 192% increase compared to Q3 2020. Sales volume surged by 45% to 153,674 tonnes. The company is set to construct Plant 2, backed by $3.75 million in secured loans, to triple production capacity amidst rising market demand. Verde revised its 2021 revenue guidance to R$110 million, up from R$50 million, indicating a potential 212% YoY growth.
Verde AgriTech Plc (OTCQB: AMHPF) reported robust financials for Q2 2021, with a 116% increase in revenue to $5,376,000 compared to Q2 2020. Revenue in Brazilian Real surged 159% to R$23,215,000. Gross margin improved to 72%, and operating profit before non-cash events increased 109% to $1,220,000. However, net profit fell to $79,000 due to a $887,000 non-cash charge. The company revised its 2021 revenue target upwards to R$60.5 million. Cash reserves rose by 214% to $1,908,000.
Verde AgriTech Plc (OTCQB: AMHPF) held its Annual General Meeting on June 30, 2021, where all proposed resolutions were approved by shareholders. This includes the appointment of PKF Littlejohn LLP as auditors and the approval of the stock option plan until June 30, 2024.
Significant votes included:
- PKF Littlejohn LLP appointed with 97.27% approval.
- Alysson Paolinelli elected with 99.37% approval.
- Stock option plan approved with 71.24% in favor.
The Company focuses on sustainable agriculture through its Cerrado Verde Project in Brazil.
Verde AgriTech Plc (OTCQB: AMHPF) announces the details for its annual general meeting on June 30, 2021, at 3:00 p.m. (EDT). The meeting will be closed due to COVID-19 restrictions, allowing only registered shareholders and proxyholders, but in-person attendance is permitted under local health regulations. Shareholders are strongly encouraged not to attend and to vote by proxy. CEO Cristiano Veloso stated that no Verde employee has been affected by COVID-19. Shareholders wishing to attend in person must notify the Company at least 24 hours prior to the meeting.
Verde AgriTech Plc (OTCQB: AMHPF) reported a strong Q1 2021, with sales up 63% at 16,558 tonnes and revenues reaching $831,000, compared to $510,000 in Q1 2020. Brazilian Real revenue soared 113% to R$3,599,000. Despite a net loss of $1,008,000 (up from $792,000 in Q1 2020), cash reserves rose 150% to $2,021,000. The company increased its 2021 revenue target to R$55 million, indicating a promising growth trajectory. Gross margins improved to 41% from 35% in the previous year. The company plans to unveil new technology on June 2, 2021.
Verde AgriTech Plc (OTCQB: AMHPF) has appointed Cristiano Veloso as Chairman of the Board and Michael St Aldwyn as Lead Independent Director. Veloso, founder and CEO, has been crucial in the company's growth and strategic direction. St Aldwyn, an experienced director since 2018, will ensure strong corporate governance and stakeholder communication. The Board now consists of six members focused on sustainable agricultural solutions, showcasing a commitment to corporate best practices.
Verde AgriTech Plc (OTCQB: AMHPF) reported robust Q4 2020 results with a 76% sales increase to 56,585 tonnes, and a 48% rise in revenue to $2,209,000. Gross margin surged to 59% from 36% year-over-year. Despite a net loss of $192,000 in Q4, the company achieved a net profit of $550,000 for FY 2020, its first profitable year, with revenues up 52% to $9,167,000. Production costs dropped 45% due to operational efficiencies. Verde aims for R$50 million revenue in 2021, targeting 350,000 tonnes in sales.
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