Sale of GM wheat generates US$12.4 million, says Bioceres

Bioceres announced that the HB4 Wheat revenue was $12.4 million in the fourth fiscal quarter of this year, a 94% increase over the previous year.

According to the financial report, the company's total sales in this period showed strong growth compared to the previous quarter, with an expansion of 44%, totaling US$104.1 million.

Bioceres' fiscal year 2022 (FY22) overall revenues increased 62% to a record $319.3 million.

Comparable gross profit for the quarter also grew 32% over its predecessor to $41.4 million, showing a similar record for the fiscal year of $136.9 million, up 45% on FY21.

EBITDA, excluding HB4 pre-launch costs, reached US$61.9 million in FY22, up 24% compared to the previous fiscal year.

Two new soybean varieties will have commercial launches with selected distributors next season and are on their way to Brazil to be launched in the 2023-2024 season.

Another achievement was the release of HB4 Wheat obtained during FY22 to China, Brazil, Colombia, Australia, New Zealand, and Nigeria.

Federico Trucco, Executive Director of Bioceres

″We are very proud of the performance delivered by our teams in the fourth quarter and full fiscal year 2022. This last quarter was particularly challenging as we are comparing to a record closing quarter of last year (4Q21) when we grew close to 40 % compared to 4Q20,″ said Federico Trucco, Executive Director of Bioceres.

According to him, it has been ″an incredible year, not only reflected in our record financial setting but also in obtaining regulatory gatekeeping authorizations, that is, feed and food approvals for HB4 Wheat in Brazil and HB4 Soy in China.″

″We are for the first time reporting recipes associated with HB4 technology, resulting from the only crop in which we face the greatest skepticism: HB4 WHEAT,″ he added.

″Additionally, as we look forward to FY23 and beyond, we are invigorated by the opportunities to come. Shortly after the quarter ended and less than four months since the announcement, we successfully merged with Marrone Bio Innovations.″

Enrique Lopez Lecube, Chief Financial Officer of Bioceres

″We continued our excellent performance during the fourth quarter, ending our fiscal year on a high note. As we head into the new fiscal year, we are focused on solidifying and growing from this new revenue base with financial and strategic resources to deliver greater value to our shareholders,″ stated Enrique Lopez Lecube, Chief Financial Officer of Bioceres.

(Editing by Leonardo Gottems, reporter for AgroPages)