AGI Announces First Quarter 2023 Results

Winnipeg, MB, May 8, 2023 – Ag Growth International Inc. (TSX: AFN) (“AGI”, the “Company”, “we” or “our”) today announced its financial results for the three-months ended March 31, 2023. 

First Quarter 2023 Highlights 

    • Record first quarter results for sales and adjusted EBITDA 
    • Sales increased 19% to $347 million on a year-over-year (‘YOY’) basis 
    • Adjusted EBITDA1 increased 16% to $48 million on a YOY basis 
    • Adjusted EBITDA margin2 of 13.9% vs 14.2% on a YOY basis 
    • Net debt leverage ratio2 of 3.6x at March 31, 2023 vs 3.7x at December  31, 2022 and 5.2x at March 31, 2022