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Bunge Global SA (NYSE: BG) is a leading global agribusiness and food company, with a strong presence in over 40 countries and employing approximately 35,000 people. Founded in 1818 and headquartered in White Plains, New York, Bunge operates at every stage of the food production chain. The company specializes in buying, selling, storing, and transporting oilseeds and grains to meet the needs of customers worldwide.
Bunge processes oilseeds to produce protein meal for animal feed and edible oil products for both commercial customers and consumers. The company is also engaged in the production of sugar and ethanol from sugarcane, as well as milling wheat, corn, and rice to create ingredients for food companies. Additionally, Bunge is a significant seller of fertilizer in South America.
The company operates through several segments, including Agribusiness, Refined and Specialty Oils, Milling, Sugar and Bioenergy, and Corporate and Other. The Agribusiness segment generates the majority of Bunge's revenue and includes activities related to oilseed and grain processing. By leveraging its extensive global network and state-of-the-art facilities, Bunge ensures the efficient transportation and processing of agricultural commodities.
In recent developments, Bunge has partnered with ag-tech start-up WeedOut, Ltd., through its investment arm, Bunge Ventures. WeedOut specializes in developing green solutions to combat herbicide-resistant weeds, an issue posing a significant threat to agriculture and food security worldwide. This collaboration aims to enhance crop yields and reduce reliance on chemical herbicides.
With a commitment to sustainability and innovation, Bunge continues to play a crucial role in connecting farmers to consumers, delivering essential food, feed, and fuel to a growing global population.
Bunge Limited (NYSE: BG) reported its Q4 and full-year 2022 results, revealing full-year GAAP EPS of $10.51, down from $13.64 in 2021. Adjusted EPS was $13.91 compared to $12.93 the previous year. In Q4, GAAP EPS was $2.21, up from $1.52, but adjusted EPS fell to $3.24 from $3.49. The company reported net income of $1,610 million for the year, down from $2,078 million in 2021. Despite these declines, Bunge anticipates a favorable market environment in 2023, expecting adjusted EPS of at least $11 per share and continued demand growth for food and renewable fuels.
Bunge has achieved 80% traceability of soybeans from its indirect supply chain in the Brazilian Cerrado. This initiative is part of the Sustainable Partnership Program, launched in 2021 to enhance sustainability in grain reselling. The company is now expanding its partnership with Vega Monitoramento to utilize the LYRA platform for enhanced monitoring and socio-environmental assessments.
By 2025, Bunge aims to establish deforestation-free supply chains, reflecting its commitment to responsible sourcing. The program supports resellers with training and technical assistance, fostering transparency and sustainability in the agribusiness sector.
Bunge Limited (NYSE: BG) will announce its Q4 2022 results on February 8, 2023, prior to market opening. A conference call is scheduled for 7:00 AM CT to discuss the results, with a slide presentation available on www.bunge.com. Investors can access the webcast in the 'Events and presentations' section of the website. A replay of the call will be available through March 8, 2023. Bunge is a leading player in oilseed processing and aims to enhance food security globally.
Bunge (NYSE: BG) plans to invest approximately $550 million in a new soy protein concentrate and textured soy protein concentrate facility in Morristown, Indiana. The facility, expected to be operational by mid-2025, aims to address growing demand in plant-based foods, processed meats, and pet foods, processing an additional 4.5 million bushels of soybeans. This initiative aligns with Bunge's strategy to enhance its capabilities in value-added ingredients and create 70 new jobs.
Additionally, Bunge has invested $10 million to improve its plant protein technical capabilities in St. Louis.
Bunge Limited (NYSE: BG) has announced a plan to redomicile from Bermuda to Switzerland, pending shareholder approval in 2023. This strategic move aims to align its corporate structure with operational activities and positions Bunge more centrally within key markets. The company has been operating in Switzerland for over 20 years and will maintain its operational headquarters in St. Louis. Bunge remains subject to U.S. SEC regulations, and its shares will continue to be traded on the New York Stock Exchange under the symbol 'BG.'
Bunge (NYSE: BG) has entered a strategic partnership with BZ Group, acquiring a 49% stake while the Beuzelin family retains 51%. This move aims to enhance operational cooperation, particularly at BZ's port terminal in Rouen, France, the largest cereal export facility in Western Europe. The partnership capitalizes on Bunge's global reach and BZ's expertise in the French agricultural market, promising expanded opportunities and flexible solutions for customers amidst market volatility.
Bunge Limited (NYSE: BG) has appointed Eliane Aleixo Lustosa de Andrade to its Board of Directors, effective November 15, 2022. Aleixo Lustosa previously served as Managing Director at the Brazilian Development Bank, overseeing capital markets and the Brazilian Privatization Program. With a Ph.D. in Finance and extensive experience in both public and private sectors, she is expected to provide valuable insights, particularly in agribusiness and sustainability. Aleixo Lustosa will be part of the Sustainability and Corporate Responsibility Committee and the Audit Committee.
UPL Ltd. announced an agreement for Advanta Seeds UK and Bunge to acquire a combined 40% stake in SEEDCORP|HO, Brazil's third-largest soybean germplasm company. This investment enhances UPL's market access and product portfolio in Brazil, aligning with its OpenAg® initiative aimed at supporting farmers throughout the agricultural process. Bunge seeks to expand its grain sourcing position and enhance its barter portfolio, leveraging its technical expertise for sustainable solutions. The deal is subject to regulatory approvals.
Bunge Limited (NYSE: BG) announced a quarterly cash dividend of $0.625 per common share, declared on November 14, 2022. This dividend is payable on March 2, 2023, to shareholders recorded as of February 16, 2023. With over 200 years in the market, Bunge connects farmers to consumers and champions sustainability while ensuring global food security. The company operates with nearly 23,000 employees across 300 facilities in over 40 countries.
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