Isagro: in 2020 back in profit for 16.2M
Growth and possible acquisitions are expected in 2021
The board of Isagro, the company on which it will launch a Gowan takeover bid at € 2.76, approved the 2020 financial statements. The note from the company recalled that a new business model was implemented last year, operating today even if not yet completed, which provides for a specific focus on the development of market positions and products / formulations relating to 'Bio-Copper', i.e. of biological / natural and copper-based origin, the latter falling within inorganic chemistry, also through growth operations by external lines.
Revenues in 2020 from agropharmaceuticals and services increased by 5% to 110.3 million euros, the gross operating margin before extraordinary income was positive for 3.8 million compared to the negative value of 2.6 million for 2019. EBITDA stood at 34.1 million (of which 30.3 million relating to the capital gain realized with the sale of Fluindapyr in October 2020) compared to the negative value of 2.6 million in 2019. Finally, the net result it was positive for 16.2 million compared to the loss of 13.9 million in 2019. At a financial level, the net financial position on credit (cash) was 21.4 million (of which 4.2 million under IFRS16), compared to the debt of 34.4 million at the end of 2019.
EFA News - European Food Agency