06 October 2021
|
Revenue increase for agri-services group
ORIGIN Enterprises plc, the international Agri-Services group, providing specialist agronomy advice, crop inputs and digital agricultural solutions to growers has announced its full year results up to July 31st, which show a 4.4% revenue increase.
Performance Highlights
• Group revenue increase of 4.4% to €1,658.4 million, 6.6% on an underlying basis
• Operating profit1 of €61.0 million, an increase of 38.3%, 42.1% on an underlying basis
• Group operating margin of 3.7% (2020: 2.8%)
• Adjusted diluted earnings per share3 of 35.50 cent
• Strong cash generation with free cash flow of €49.2 million (2020: €64.3 million)
• Net bank debt4 reduced to €14.4 million (2020: €53.2 million)
• Working capital outflow of €4.0 million (2020: Inflow of €30.3 million)
• Proposed final dividend of 7.85 cent per share giving total dividend of 11.00 cent
• Substantial recovery in Ireland/UK operating segment together with continued underlying growth in CE and LATAM operations
• Divestment of Pillaert, the Group’s Belgian fertiliser business for €15.5 million
• Acquisition of Green-tech, the UK’s leading landscape, forestry and grounds maintenance equipment provider
• Extension post year end of Group’s banking facilities to 2025 with pricing linked to ESG performance
