FoodTech and AgTech Q1 roundup

Key stats and quotes from AgTech and FoodTech firms reporting Q1 figures over the last few days.

Future Food Finance highlights the key stats and quotes from FoodTech and AgTech listed firms recently reporting Q1 results.

Balchem Corporation 

Q1 results

Sales $228.9m, up 23.3 per cent on the year

Net earnings $28.9m, up 19.3 per cent on the year

Ted Harris, chairman, CEO, and president of Balchem said: “We are very pleased to have continued the strong momentum from 2021 into 2022. In the first quarter of 2022 we delivered all-time record sales, adjusted net earnings, and adjusted EBITDA in a very difficult macro-economic and geo-political environment.”

Balchem share price 24 hours after results- down 1 per cent to $122.14.

Marley Spoon

Q1 results

Sales €103m, up 32 per cent on the year

Operating EBITDA loss of €9.7m, increased EBITDA loss of 22 per cent on the year

Marley Spoon CEO, Fabian Siegel, said: “The first quarter of the year is important for achieving our full year customer acquisition and revenue growth targets. Achieving plan for the quarter increases our confidence to deliver the plan for the year and allows us to reaffirm 2022 guidance.”

Marley Spoon share price 24 hours after results- up 8.3 per cent to AU$0.41.

Aker BioMarine

Q1 results

Sales $56.9m, up 14 per cent year on year

Loss $9.8m, reduced loss of one per cent on the year

Matts Johansen, CEO of Aker BioMarine, said: “Aker BioMarine delivers strong growth in our brands segment and record-high harvesting of Antarctic krill in the quarter."

Aker Biomarine share price 24 hours after results- down 1.9 per cent to NOK53.

HelloFresh 

Q1 results

Sales €1.92bn, up 32.7 per cent on the year

EBITDA  €76.9m, down 48.6 per cent on the year

HelloFresh CEO Dominik Richter said: “Our unique diversification across geographies, brands and business models has allowed us to navigate an incredibly volatile macroeconomic environment and continue our strong and profitable growth path into 2022."

HelloFresh share price 24 hours after results- up 2.3 per cent to  €40.6.

Novozymes
Q1 results

Sales DKK4,371m, up 16 per cent on the year

Pre-tax profits DKK1,076m, down 3 per cent on the year

Ester Baiget, president & CEO, said: "The year started strong, and we delivered very satisfactory organic sales growth of 10% with double-digit growth in three of our five business areas."

Novozymes share price 24 hours after results- up 19.9 per cent to  DKK490.

AppHarvest
Q1 results
Sales $5.16m, up 55 per cent on the year
Net loss $30.6m, reduced loss of 6.8 per cent on the year

AppHarvest founder & CEO Jonathan Webb. “Food security issues, inflation and commodity price increases continue to drive strong confidence in controlled environment agriculture (CEA) as a solution to decrease U.S. reliance on imported fruits and vegetables. AppHarvest expects to be well equipped to provide consumers before year-end with a reliable, high-quality supply of increasingly sought-after options that are sustainably grown in the U.S.”

AppHarvest share price 24 hours after results- down 1.1 per cent to $3.46.