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Bioceres Crop Solutions (BIOX) - 2025 Q2 - Quarterly Report
2025-02-27 22:54
Exhibit 99.1 Bioceres Crop Solutions Bioceres Crop Solutions Reports · Revenues in 2Q25 totaled $106.7 million, down from quarterly record-high of $140.2 million in 2Q24, as tight farm economics and elevated channel inventories in Argentina — a decisive market for the quarter — significantly contracted the overall market for crop protection and specialty fertilizers. This led to a year-over-year reduction in sales of non-core CP products and micro-beaded fertilizers, roughly in line with the market decline. ...
Bioceres Is Approaching Distressed Prices, But I Remain On The Sidelines
Seeking Alpha· 2025-02-13 16:31
Bioceres Crop Solutions Corp. (NASDAQ: BIOX ) reported a disappointing Q2 2025 , with revenues down 24%. This was entirely driven by weakness in Argentina, its primary market. International sales improved, but they were nowhere near enough toLong-only investment, evaluating companies from an operational, buy-and-hold perspective.Quipus Capital does not focus on market-driven dynamics and future price action. Instead, our articles focus on operational aspects, understanding the long-term earnings power of co ...
Bioceres Crop Solutions (BIOX) - 2025 Q2 - Earnings Call Transcript
2025-02-12 18:54
Bioceres Crop Solutions Corp. (NASDAQ:BIOX) Q2 2025 Earnings Conference Call February 12, 2025 8:30 AM ET Company Participants Paula Savanti - Head-Investor Relations Federico Trucco - Chief Executive Officer Enrique López Lecube - Chief Financial Officer Conference Call Participants Kristen Owen - Oppenheimer Steve Byrne - Bank of America Ben Klieve - Lake Street Capital Markets Austin Moeller - Canaccord Kemp Dolliver - Brookline Capital Markets Operator Welcome to today's Bioceres Crop Solutions Fiscal S ...
Bioceres Crop Solutions (BIOX) - 2025 Q2 - Earnings Call Presentation
2025-02-12 15:19
Disclaimer Industry and Market Data This Presentation is for informational purposes only and does not constitute an offer or invitation to sell, a solicitation of an offer to buy, or a recommendation to purchase any equity, assets, business, debt or other financial instruments of the Company or any of its affiliates, and shall not form the basis of any contract, nor shall it be construed in any manner as a commitment on the part of any person to proceed with any transaction. Any reproduction of this Present ...
Bioceres Crop Solutions (BIOX) - 2025 Q1 - Quarterly Report
2024-11-27 21:01
Exhibit 99.1 BIOCERES CROP SOLUTIONS CORP. Consolidated financial statements as of June 30, 2024 and 2023 and for the years ended June 30, 2024, 2023 and 2022. ര Bioceres Crop Solutions Report of independent registered public accounting firm F-3 Consolidated statements of financial position F-5 Consolidated statements of comprehensive income F-7 Consolidated statements of changes in equity F-9 Consolidated statements of cash flows F-10 Notes to the consolidated financial statements F-12 INDEX Consolidated f ...
Bioceres Is Getting Cheaper, Not Yet An Opportunity But More Interesting
Seeking Alpha· 2024-11-13 03:19
Bioceres (NASDAQ: BIOX ) released 1Q25 results, with challenging topline and earnings results as a result of a slow beginning to the Argentinian campaign, which may be recovered in Q2. This affected the crop nutrition (beaded fertilizers) segment, with crop protection and seeds also posting negative toplineLong-only investment, evaluating companies from an operational, buy-and-hold perspective.Quipus Capital does not focus on market-driven dynamics and future price action. Instead, our articles focus on ope ...
Bioceres Crop Solutions (BIOX) - 2025 Q1 - Earnings Call Transcript
2024-11-12 17:19
Financial Data and Key Metrics Changes - Total revenues for Q1 2025 were $93.3 million, a decrease of 20% compared to the same quarter last year, primarily due to lack of rain in Argentina [7][12] - Adjusted EBITDA for the quarter totaled $8.5 million, with a significant drop attributed to the decline in gross profit from crop nutrition [25][27] - Total financial debt stood at $250 million, with a cash position of almost $40 million, resulting in a leverage ratio of 2.9 turns [27] Business Line Data and Key Metrics Changes - Crop nutrition segment saw the most significant year-over-year decline, explaining more than half of the top line decrease, driven by lower sales of micro-bead fertilizers in Argentina [15][16] - Crop protection sales were affected by slow market activity in Argentina, but gross margin expanded from roughly 35% to almost 40% due to a focus on high-margin products [18][24] - Seed & Integrated products experienced a decrease in top line primarily due to lower HB4 grain downstream sales, as the company shifts away from low-margin grain sales [21][22] Market Data and Key Metrics Changes - The Argentine market remains crucial for the company's performance, with recent rains expected to improve conditions for crop production [12][53] - North America and Brazil showed good top line traction, indicating early signs of growth in these key markets [13][14] - New markets like Mexico are beginning to show positive results, supporting the company's strategy of geographic diversification [14] Company Strategy and Development Direction - The company is focusing on capital allocation towards products and technologies with lower risk and near-term payback periods, aiming to enhance cash generation while preserving long-term value [28] - A strategic review is underway to accelerate the transition from identity preserve to conventional sales for HB4 products, with an emphasis on partnering with leading seed industry participants [33] - The company aims to diversify revenues across geographic and distribution channels, which has proven valuable in the current quarter [14] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the remainder of the fiscal year, citing improved weather conditions and positive sentiment among farmers in Argentina [54][60] - The company anticipates that recent rains could lead to a good crop season, particularly in crop production and seed integrated products [37][38] - There is cautious optimism regarding potential changes in export tax duties in Argentina, which could significantly impact profitability for farmers [54][80] Other Important Information - The company received regulatory approvals for HB4 soy cultivation in Uruguay and Bolivia, expanding its production approval footprint [32] - The RinoTec platform for bioinsecticidal products received recognition for its environmental benefits, highlighting the company's commitment to sustainable agriculture [30][31] Q&A Session Summary Question: State of the market in Argentina and expectations for Q2 - Management noted that recent rains have improved commercial activity, and there is potential for a good crop season, particularly in crop production and seed integrated products [36][37] Question: Expectations for the Syngenta agreement and seasonality - The Syngenta agreement is expected to provide more even distribution of profit sharing throughout the year, with Brazil being a significant market for Q1 and Q2 [41][46] Question: Spending cycles and farmer sentiment - Farmer sentiment is shifting from cautious to optimistic due to recent rains, with expectations of improved profitability if export tax duties are lifted [53][54] Question: Update on HB4 business model transition - The transition to a more asset-light model for HB4 is ongoing, with positive engagement from the industry regarding monetization opportunities [60][61] Question: Impact of cash flow focus on operating cash flow - The company aims to turn from negative to positive cash generation, with a significant focus on managing working capital and accounts receivables [64][69] Question: Recovery in commodity prices and interest rates - Recovery in commodity prices is expected to positively impact farmer profitability, while interest rates in Argentina may be influenced by government actions related to export taxes [78][80]
Bioceres Crop Solutions (BIOX) - 2025 Q1 - Earnings Call Presentation
2024-11-12 16:29
ര Bioceres Crop Solutions Fiscal First Quarter 2025 November / 2024 BIOCERES CROP SOLUTIONS This Presentation is for informational purposes only and does not constitute an offer or invitation to sell, a solicitation of an offer to buy, or a recommendation to purchase any equity, assets, business, debt or other financial instruments of the Company or any of its affiliates, and shall not form the basis of any contract, nor shall it be construed in any manner as a commitment on the part of any person to procee ...
Bioceres Crop Solutions (BIOX) - 2024 Q4 - Annual Report
2024-10-30 19:19
Financial Performance - For the year ended June 30, 2024, total revenue was US$464.8 million, an increase of 10.6% from US$420.1 million in the previous year[251]. - Operating profit for the same period was US$44.8 million, while GAAP net income was US$6.2 million, compared to US$20.2 million in net profit for the year ended June 30, 2023[251]. - Adjusted EBITDA for the year ended June 30, 2024, was US$81.4 million, slightly up from US$81.2 million in the previous year[251]. - The company reported total revenue of US$223.5 million in the Crop Protection segment with a gross margin of 35.7% for the year ended June 30, 2024[311]. - The Seed & Integrated Products segment generated US$96.4 million in revenue with a gross margin of 31.2%[311]. - Crop Nutrition segment revenue reached US$144.8 million, achieving a gross margin of 53.0%[311]. - In the year ended June 30, 2024, the top five customers in the seed and integrated products segment represented approximately 31.1% of total revenue in this segment[377]. - In the crop protection segment for the same period, the top five customers accounted for approximately 36.2% of total revenue[379]. - The crop nutrition segment also saw the top five customers representing approximately 36.2% of total revenue for the year ended June 30, 2024[380]. Research and Development - The company has established over 19 collaborations and joint initiatives globally as of June 2024, enhancing its R&D capabilities[277]. - The company has over 69 active R&D projects focused on biotechnology traits, biofungicides, and bioinsecticides, among others[273]. - The integration of Pro Farm has strengthened the company's internal R&D capabilities, leading to the establishment of specialized teams in entomology and nematology[329]. - The company collaborates with academic institutions and startups to expedite technology development and establish strategic partnerships[330]. Strategic Partnerships and Agreements - An exclusive agreement with Corteva Agriscience was signed on July 18, 2023, to advance biological solutions in Europe, targeting crops like corn and sunflower[284]. - A 10-year exclusive global distribution agreement with Syngenta was established on September 12, 2022, for certain biological solutions for seed care applications[287]. - Syngenta made an upfront payment of US$50 million for distribution and R&D collaboration, with a profit-sharing agreement of 50% to 30% depending on geography and year, and a total minimum profit target of US$230 million over the agreement's life[291]. - The company has entered into exclusive distribution agreements with Syngenta and Corteva for various products, enhancing its market presence in Europe and Latin America[368][390]. - The company has strategic alliances with Momentive and De Sangosse Group for the distribution of agricultural products in several South American countries[365][366]. - The company has executed significant agreements for formulation services and production with major firms such as Syngenta, Corteva, and UPL[367]. Market Position and Share - The company has a 23% global market share in soybean inoculants as of June 30, 2024[324]. - Rizobacter holds a 32% market share in the Argentine adjuvants market and aims to expand in Brazil through a B2B strategy[442]. - Rizobacter is the global leader in the inoculants market with an estimated market share of 23%[444]. - The company faces competition in the seed and integrated products sector from major players like Bayer and Corteva, particularly in biotech traits[446]. - The South American soybean market is dominated by local companies such as GDM Seeds and TMG, presenting collaboration opportunities[447]. Product Development and Technology - The HB4 technology is projected to increase soybean and wheat yields by an average of 10% to 20% under various conditions[317]. - The HB4 technology, which allows crops to tolerate drought and soil salinity, is the first of its kind approved for use in multiple countries, including Argentina, Brazil, Paraguay, and the United States[395]. - The company develops biofertilizers that enhance nutrient absorption through a unique organic molecular complex, focusing on new products for crops like wheat and corn[325]. - Microgranular fertilizers produced by the company can replace 80 kilograms of basic fertilizer with only 20 to 30 kilograms, achieving similar crop productivity[326]. - The company’s biostimulants portfolio includes three key products: Emergen, Pacesetter, and UBP 110, aimed at improving plant nutrition and yield[327]. - The company has retained global rights for products related to HB4 crops, with Syngenta holding non-exclusive rights in the U.S.[290]. - The Moolec Convertible Notes, issued for HB4 soy supply, total US$6.6 million, with an option for additional deliveries valued at US$9 million[294]. - The company has expanded its portfolio and pipeline of biological products through the Pro Farm Merger, enhancing its offerings in sustainable agriculture[425]. Market Trends and Projections - The market for agricultural biologicals is estimated to be approximately $14 billion for 2023, representing about 3%-5% of the total agricultural inputs market[397]. - The agricultural biologicals market is experiencing double-digit growth, driven by regulatory policies and the need for sustainable agricultural practices[398]. - The global market for agricultural adjuvants is valued at US$3.0 billion in 2023 and is projected to reach US$4.0 billion by 2029, at a CAGR of 4.8%[419]. - The biocontrol market was estimated at US$6.2 billion for 2021 and is projected to exceed US$15 billion by 2029, with an estimated CAGR of 11%[424]. - The biostimulants market was valued at US$3.1 billion in 2023 and is projected to grow at an estimated CAGR of 11.2% to reach US$5.9 billion by 2029[428]. - The biofertilizers market was valued at US$2.2 billion in 2023 and is expected to reach US$4.5 billion by 2029, growing at an estimated CAGR of 12.1%[429]. - The global market for specialty fertilizers is estimated at US$42.0 billion in 2023 and is expected to reach US$75.0 billion by 2031, growing at an estimated CAGR of 7.5%[435]. - The nitrogen-fixing seed inoculants market is projected to increase from US$1.2 billion in 2023 to US$1.8 billion in 2029, with a CAGR of 7.5%[431]. - The global seed market size is estimated at US$69 billion in 2023 and projected to reach US$94 billion by 2029, growing at a CAGR of 5.4%[438]. - The genetically modified seeds market is estimated at approximately US$36 billion in 2023 and projected to reach US$63 billion by 2029, with a CAGR of 9.8%[439]. Long-term Strategy - The company's long-term growth strategy includes leading the development of new agricultural biotechnology products in existing and new markets[448]. - The company aims to consolidate its position in biological assets, including microbial, seed trait, and germplasm assets[448].
3 Bargain Stocks Under $20 With Major Growth Potential
MarketBeat· 2024-09-30 11:30
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