AGI Announces Second Quarter 2021 Results
Winnipeg, MB, August 11, 2021 – Ag Growth International Inc. (TSX: AFN) (“AGI”, the “Company”, “we” or “our”) today announced its financial results for the three and six months ended June 30, 2021.
Second Quarter 2021 Highlights
- Consolidated trade sales increased 15% to $302M on a year-over-year (‘YOY’) basis
- Adjusted EBITDA increased 5% to $46.2M on a YOY basis
- Adjusted EBITDA margin of 3% vs 16.9% on a YOY basis
- Total backlog increased 69% on a YOY basis as of the end of the quarter
Outlook
- Supported by a strong backlog, up 69% YOY, management anticipates robust trade sales growth throughout 2021, with particular strength in Q4 2021 trade
- Management continues to expect full year trade sales and adjusted EBITDA to be strong and above FY 2020