AGI Announces Update To 2024 Outlook
Winnipeg, MB, January 13, 2025 – Ag Growth International Inc. (TSX: AFN) (“AGI”, “us”, “we”, “our”, or the “Company”) today announced an update to the outlook for our 2024 financial performance.
The Company anticipates full year 2024 results to include Adjusted EBITDA of approximately $260 million with Adjusted EBITDA margins of approximately 18.5%.
“Our updated guidance is the result of several factors coming together over recent weeks,” commented Paul Householder, President & CEO of AGI. “The U.S. and broader North American farm market continues to be soft with a noticeable slowdown in early order program activity relative to our expectations. In addition, engineering and procurement delays on certain Commercial segment projects in Brazil will push some of the financial contributions we were expecting in 2024 into early 2025. Based on order intake trends and overall market conditions across the North American Farm segment, we are cautious about the potential for a meaningful rebound in our overall results in 2025. We are monitoring the situation carefully and continue to make tactical adjustments to ensure we are well positioned to maintain our strong margin profile in all operating conditions.”
The Company intends to release fourth quarter and full year 2024 results on March 5, 2025. Details on how to participate in the conference call or webcast will be distributed closer to the release date.
Company Profile
AGI is a provider of the equipment and solutions required to support the efficient storage, transport, and processing of food globally. AGI has manufacturing facilities in Canada, the United States, Brazil, India, France, and Italy and distributes its product worldwide.
For More Information Contact:
Andrew Jacklin
Sr. Director, Investor Relations
+1-437-335-1630
investor-relations@aggrowth.com