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NUFARM LIMITED — Capital/Financing Update 2021
Feb 24, 2021
65453_rns_2021-02-24_8b3eb919-9e24-4f44-9610-ef3327f9b69a.pdf
Capital/Financing Update
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Nufarm Limited ACN 091 323 312
25 February 2021
103-105 Pipe Road Laverton North VIC 3026 Australia +61 3 9282 1000 nufarm.com
ASX Release – Company Announcement
Revenue update for period to 31 January 2021
Overview
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Revenue up 17% for first four months of new financial year
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Growth in all crop protection regions and Seed Technologies
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Leverage to improved seasonal conditions in Australia and Europe driving growth
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European recovery on track
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Net working capital trending toward short term target of 40% ANWC/sales
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Good progress on delivery against performance improvement program
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Positive momentum has continued into February 2021
Today Nufarm announced revenue for the period to 31 January 2021 to provide additional transparency as we transition to a new financial year end. Data for the 6 months to 31 January corresponds to Nufarm’s historic first half financial year while data for the 4 months to 31 January corresponds to the first four months of the new financial year ended 30 September.
Nufarm Managing Director and Chief Executive Officer, Greg Hunt, said, “The positive momentum we saw in the second half of last financial year has continued with revenue growth in all regions and our Seed Technologies business.
“While our major trading months are still ahead of us and uncertainties including currency translation and supply chain impacts of COVID-19 remain, improved seasonal and market conditions in Australia and Europe are driving a recovery in sales and these regions are expected to make a meaningful contribution to earnings growth in FY21.”
Nufarm will publish financial results for the six months ended 31 March 2021 on 20 May 2021.
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Revenue for four months 1 October to 31 January
| FY19 | FY20 | FY21 | Change fromFY20 | |
|---|---|---|---|---|
| APAC (AUD$m) | 244 | 176 | 257 | 46% |
| Europe (AUD$m) | 163 | 192 | 227 | 18% |
| Europe (Euro m) | 101 | 118 | 139 | 18% |
| North America (AUD) | 333 | 313 | 313 | 0% |
| North America (USD$m) | 237 | 213 | 231 | 8% |
| Seed Tech (AUD$m) | 41 | 39 | 48 | 23% |
| Group (AUD$m) | 780 | 720 | 845 | 17% |
Revenue for six months 1 August to 31 January
| FY19 | FY20 | FY21 | Change fromFY20 | |
|---|---|---|---|---|
| APAC (AUD$m) | 323 | 243 | 350 | 44% |
| Europe (AUD$m) | 200 | 227 | 275 | 21% |
| Europe (Euro m) | 124 | 139 | 169 | 22% |
| North America (AUD) | 446 | 384 | 387 | 1% |
| North America (USD$m) | 320 | 262 | 285 | 9% |
| Seed Tech (AUD$m) | 55 | 47 | 55 | 17% |
| Group (AUD$m) | 1024 | 901 | 1067 | 18% |
The financial information included in this announcement has not been subject to audit or review.
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Authorised for lodgement by: Fiona Smith Company Secretary
Investor and media contact:
[email protected] +61 437 361 433