ArborGen Holdings Results for Year Ended 31 March 2023

ArborGen Holdings Limited has reported strong revenue growth and an increase in operating profit for the year ended 31 March 2023 (FY23).

The company has refocussed on high growth markets in the US South and Brazil, as well as on new and emerging high growth carbon markets.

Group revenues increased 18% to US$56.1 million, and operating profit before financing costs and tax increased to US$2.2 million.

US-GAAP EBITDA increased 35% to US$10.3 million in FY23.

Investments have been made into expanding internal seedling production capacity in both Brazil and the US, and growing advanced genetics (seed supply) in the US.

The company is projecting a materially improved performance in FY24, driven by higher seedling sales in Brazil and in the US, including MCP seedlings and seedling sales for carbon markets.