Third Quarter 2015 Interim Report
- Q3 Sales Revenue increased to USD 0.95 million vs. USD 0.61 million in Q3 2014.
- Bruce Odens joins Agrinos as Vice President, North America Business and Terry Stone joins as Vice President of Regulatory Affairs and Sustainability Programs.
- Indranil Das, formerly Managing Director of Agrinos in India, appointed Vice President, Asia & India Business, and Camilla Nilsson, formerly Managing Director of Agrinos do Brasil, appointed Vice President, Europe, Central Asia & Middle East.
- Agrinos partners with Zuari Agri Sciences in India to broaden availability of High Yield Technology Biological Crop Inputs in the India Marketplace.
- Agrinos partners with PT Sampoerna Agro for the distribution of High Yield Technology Biological Crop Inputs for Oil Palm in Indonesia.
“In the Third Quarter of 2015 Agrinos continued to actively develop in alignment with our long-term strategy to focus on core markets, build world-class Corporate Management and Global Research & Development organizations, and develop our partner-based commercial distribution network. We have also rounded out our Global Leadership Team with the appointment of new senior commercial leadership and the formation of our Global Regulatory Affairs and Sustainability Programs. On top of the organizational and strategic developments, due to product demand Agrinos initiated manufacturing of our HYT® products following significant upgrades to our manufacturing facility in Mexico that have increased production efficiency. In this past quarter Agrinos has completed the reorganization that was initiated in Q3 of 2014 in both commercial and research & development functions with the formation of a deeply experienced Global Leadership Team and an organizational design and infrastructure platform that forms the foundation for our future growth and innovation ambitions. Delivering the best solutions for our customers in the biological crop input sector is at the heart of our strategy and mission, and with our organizational and technical developments over the last 12 months Agrinos is firmly positioned to continue to deliver on this strategy.” said Chief Executive Officer, D. Ry Wagner.
“In management, Bruce Odens and Terry Stone greatly enhance Agrinos’ overall management team. Odens, who will lead the North America Businesses, brings significant industry experience and understanding of the North American agricultural marketplace that will enhance our growth strategy in this key geography. Stone, who will lead Regulatory Affairs and Sustainability Programs within Global Research & Development, has significant scientific and product development experience with a focus on positioning of Agrinos’ products as valuable components of sustainable agricultural practices.
In the midst of a challenging year for multinational agricultural-related businesses – due to low commodity crop prices and currency effects – Agrinos is making excellent progress in developing its core business and product-pipeline capabilities to ensure continued growth in both the near-term and long-term. In spite of these industry-related challenges, Agrinos has realized significant growth in revenue vs. the same period last year in our newer core geographies of Brazil and India. This is a strong indicator that Agrinos partnerships and products are gaining the traction in the key market segments required to fuel long-term growth. The Company has made these major accomplishments with a total operating expense that is YTD less than the same period for 2014 even with the inclusion of significant one-time charges in 2015. Agrinos employees around the world have maintained their strong focus on cost control while increasing the core strength of the Company and our ability to deliver on our long-term vision. I am very excited about the future of Agrinos as we continue to implement our growth strategy.” Wagner concluded.
Agrinos’ interim report is available from the company’s website www.agrinos.com.
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Agrinos is a biological crop input provider committed to improving the productivity and sustainability of modern agriculture. Agrinos’ range of High Yield Technology® (“HYT®”) products helps farmers to practice profitable agriculture by providing increased crop productivity, improved efficiency of conventional fertilizer and a reduced environmental footprint.
Certified as organic and based on Agrinos’ proprietary technology, the HYT® products provide benefits by strengthening the soil-based microbial ecosystem, stimulating crop development at key points in the growth cycle and boosting natural plant resistance to pathogens and threats. With solutions for a variety of crop categories, the technology comprising the HYT® products has demonstrated its value in third-party trials in key agricultural regions worldwide.
Cautionary statement on forward-looking statements
This document contains certain forward-looking statements relating to the business, financial performance and results of the company and/or the industry in which it operates. Forward-looking statements concern future circumstances and results and other statements that are not historical facts, sometimes identified by the words “believes”, expects”, “predicts”, “intends”, “projects”, “plans”, “estimates”, “aims”, “foresees”, “anticipates”, “targets”, and similar expressions. The forward-looking statements contained in this announcement, including assumptions, opinions and views of the company or cited from third party sources are solely opinions and forecasts which are subject to risks, uncertainties and other factors that may cause actual events to differ materially from any anticipated development. Neither the company, nor any of its parent or subsidiary undertakings or any such person’s officers or employees provides any assurance that the assumptions underlying such forward-looking statements are free from errors nor does any of them accept any responsibility for the future accuracy of the opinions expressed in this announcement or the actual occurrence of the forecasted developments. No obligation, except as required by law, is assumed to update any forward-looking statements or to conform these forward-looking statements to our actual results.