2017 was a successful year for AGI as we delivered on our 2016
promise of creating sustainable momentum. We group our priorities
around three key pillars within AGI: People, Strategy and Capital
Allocation. With focused execution across our three pillars, we grew
our trade sales by 38% to $756 million, our Adjusted EBITDA grew to
$123 million, an increase of 23%, while FFO grew to $74 million, a 41%
increase over 2016...
“Strong performance in our Farm and Commercial business units resulted in record second quarter results.” said Tim Close, President and CEO of AGI. “We are seeing positive year-over-year increases in many parts of AGI as we focus on our customers and realize the benefit of both organic investment and recent acquisitions. Acquisitions in 2016 and 2017 added meaningful contribution to these results however we are just starting to see the potential of our investments in Brazil, our Fertilizer and Seed platform, our global Commercial platform and our Food equipment division.
Trade sales and adjusted EBITDA significantly exceeded previous highs due to AGI’s strong market position in the robust Canadian Farm and Commercial markets, improving demand for portable grain handling equipment in the U.S. and the contribution of recent acquisitions as AGI continues to diversify its geographic and end market exposure. Higher sales and a continued focus on operating margins resulted in a significant increase in adjusted EBITDA, profit and profit per share compared to the prior year.
Trade sales and adjusted EBITDA significantly exceeded previous highs due to AGI’s strong market position in the robust Canadian Farm and Commercial markets, improving demand for portable grain handling equipment in the U.S. and the contribution of recent acquisitions as AGI continues to diversify its geographic and end market exposure. Higher sales and a continued focus on operating margins resulted in a significant increase in adjusted EBITDA, profit and profit per share compared to the prior year.
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