World Grain - May 2022 - 68

SUPPLIER NEWS
AGI's 2021 earnings boosted by strong demand in most regions
WINNIPEG, MANITOBA, CANADA - Strong demand for
AGI's products across most regions boosted its earnings in
the fourth quarter ended Dec. 31, 2021, and helped it achieve
record results for 2021.
" Our strong results in the fourth quarter contributed to a
record year for 2021 with broad-based strength in Farm,
AGI Digital, EMEA, India, and AGI Food, " said Tim Close,
president and chief executive officer of AGI. " We see strong
growth opportunities across all our segments as demand for
global food infrastructure remains robust. Backlogs sit at the
highest level in our history, providing solid visibility for 2022.
The backlog visibility, augmented by strong sales pipelines,
lead us to forecast adjusted EBITDA levels of at least C$200
million for the upcoming year. "
AGI reported adjusted EBITDA of C$44.6 million, an increase
of 61% year-over-year for the fourth quarter, and annual
adjusted EBITDA of C$176.3 million, an 18% increase
from 2020.
Close said AGI joins the world in supporting Ukraine and
condemning the actions taken by Russia. He said the company's
personnel in the region are safe and it is looking for
additional ways to support them where possible.
" Ukraine and Russia are an important source of commodities
for the world, and we have been active in the region over
the past 10 years, " Close said. " Today, the region is a small
part of our overall business following extensive diversification
of our business into new regions, products and customers. "
The region generally contributes about 3% of AGI's consolidated
sales annually. AGI has no production facilities in
either country. Given the contributions of Brazil, India, and
the rest of the EMEA region, AGI is more diversified from
the region than it was in years past. While the region is important
to AGI, any negative impacts would not be material
to AGI overall.
Currently, AGI is compiling a list of customers, projects,
scope of work, and contracts with a view to vetting these
through the Canadian, US and EU sanctions. It will continue
to update and monitor as these sanctions evolve in the
near term.
In the fourth quarter of 2021, Commercial segment sales and
adjusted EBITDA increased 60% and 64% year-over-year, respectively.
Results were particularly strong in the US, Europe,
Middle East and Africa (EMEA), and South America markets.
Adjusted gross margins in the Commercial platform are
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a focus as securing steel and other components on a timely
and cost-effective basis amid the supply chain disruptions has
been challenging. Many of AGI's Commercial platform contracts
include provisions to pass along some or all the key raw
material cost increases. Ongoing disruption of raw material,
freight, and labor could lead to ongoing pressure on adjusted
gross margin performance of the platform.
Overall, the Commercial segment is seeing strong demand
as backlogs are up 46% with the Commercial platform and
Food platform contributing 23% and 212% increases, respectively,
signaling a strong outlook for the first quarter of 2022.
Alapala plans for 40 turnkey projects in 2022
ISTANBUL, TURKEY - Alapala delivered 24 turnkey projects
in 16 countries as well as numerous machinery exports to
different parts of the world in 2021.
There are more than 40 turnkey projects in the company's
project portfolio for 2022 in 27 countries with a total value of
$120 million, said Görkem Alapala, chief executive officer of
Alapala Group.
With the completion of these projects, Alapala will reach
more than 900 total projects across the globe.
Some of the turnkey project highlights from last year were
completed in Angola, Bangladesh, UAE, Ecuador and India,
whereas some of the important projects in this year's scope
are in Brazil, Panama, Belgium, Kosovo, Qatar, Yemen
and Zimbabwe.
Last year, Alapala acquired 70% of the shares of Italian
Axor Srl, which operates in the pasta technologies industry
and builds turnkey pasta plants worldwide. With this strategic
investment, the group both achieved an important growth, and
took a significant step toward the goal of building integrated
plants in the food industry.
68
May 2022 / World Grain / www.World-Grain.com
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World Grain - May 2022

Table of Contents for the Digital Edition of World Grain - May 2022

World Grain - May 2022 - Intro
World Grain - May 2022 - 1
World Grain - May 2022 - 2
World Grain - May 2022 - 3
World Grain - May 2022 - 4
World Grain - May 2022 - 5
World Grain - May 2022 - 6
World Grain - May 2022 - 7
World Grain - May 2022 - 8
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https://digital.world-grain.com/sosland/wg/world-grain-may-2022
https://digital.world-grain.com/sosland/wg/world-grain-april-2022
https://digital.world-grain.com/sosland/wg/world-grain-march-2022
https://digital.world-grain.com/sosland/wg/world-grain-february-2022
https://digital.world-grain.com/sosland/wg/world-grain-january-2022
https://digital.world-grain.com/sosland/wg/world-grain-december-2021
https://digital.world-grain.com/sosland/wg/-world-grain-november-2021
https://digital.world-grain.com/sosland/wg/world-grain-october-2021
https://digital.world-grain.com/sosland/wg/world-grain-september-2021
https://digital.world-grain.com/sosland/wg/world-grain-august-2021
https://digital.world-grain.com/sosland/wg/world-grain-july-2021
https://digital.world-grain.com/sosland/wg/world-grain-june-2021
https://digital.world-grain.com/sosland/wg/world-grain-may-2021
https://digital.world-grain.com/sosland/wg/world-grain-april-2021
https://digital.world-grain.com/sosland/wg/world-grain-march-2021
https://digital.world-grain.com/sosland/wg/world-grain-february-2021
https://digital.world-grain.com/sosland/wg/2021_01_01
https://digital.world-grain.com/sosland/wg/2020_12_01
https://digital.world-grain.com/sosland/wg/2020_11_01
https://digital.world-grain.com/sosland/wg/2020_10_01
https://digital.world-grain.com/sosland/wg/2020_09_01
https://digital.world-grain.com/sosland/wg/2020_08_01
https://digital.world-grain.com/sosland/wg/2020_07_01
https://digital.world-grain.com/sosland/wg/2020_06_01
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https://www.nxtbook.com/sosland/wg/2011_06_01
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https://www.nxtbook.com/sosland/wg/2011_04_01
https://www.nxtbook.com/sosland/wg/2011_03_01
http://digital.world-grain.com/sosland/wg/2011_02_01
http://digital.world-grain.com/sosland/wg/2011_02_01
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