Nutriplant’s profit fell 58% in 2023, and revenue reached a record | Business

A Nutriplantwhich produces micronutrients and special fertilizershad one net profit of R$3.5 million in 2023. The result was 58% lower than the previous year.

Net revenue, in turn, grew 2.4%, to R$174.8 million, a record. The domestic market accounted for 90.9% of revenue, according to the company.

“Our efforts to establish commercial relationships with resellers in various regions of the country will continue,” he said Ricardo Pansa, CEO and director of investor relations at the company. “We are investing in test fields to demonstrate the effectiveness of our brand to rural producers who are seen as a reference in their regions.”

In 2023, Nutriplant’s earnings before interest, taxes, depreciation and amortization (Ebitda) fell 38.8% compared to the previous year, to R$10.6 million. The company’s debt totaled R$6.6 million on December 31 of last year, or R$3 million less than in 2022.