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Forafric Global PLC engages in the purchase, storage, transport, processing, and sale of agricultural commodities and commodity products in Morocco, Burkina, Mali, and internationally. The company operates through Soft Wheat, Durum Wheat, and Couscous and Pasta segments. It provides wheat flours and semolina; and secondary processing products, such as pasta and couscous. The company operates under the TRIA and MayMouna brand names. Additionally, the company operates in the food security, defense, and energy infrastructure sectors. It serves wholesale foods manufacturers and distributors. The company also exports its products to approximately 45 countries. Forafric Global PLC was founded in 1926 and is headquartered in Gibraltar.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2024
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2024 | $274M | $-3M | $-24M | $21M | -457.6% | -9.2% | - |
| 2023 | $302M | $7M | $-13M | $24M | -43.4% | 6.3% | - |
| 2022 | $284M | $1M | $-19M | $-62M | -42.5% | 8.5% | - |
| 2021 | $262M | $8M | $-8M | $-32M | -16.8% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|
| Total Revenue | 261.68 | 283.93 | 301.95 | 274.22 |
| Cost Of Revenue | 219.31 | 254.72 | 273.42 | 246.89 |
| Gross Profit | 42.37 | 29.21 | 28.54 | 27.33 |
| Operating Expense | 38.98 | 26.93 | 27.30 | 35.09 |
| Operating Income | 3.39 | 2.27 | 1.24 | -7.76 |
| EBITDA | 7.70 | 1.30 | 7.33 | -2.82 |
| EBIT | 2.49 | -5.01 | 1.52 | -8.87 |
| Pretax Income | -7.87 | -16.96 | -11.96 | -21.68 |
| Tax Provision | -0.09 | -1.84 | 0.59 | 1.65 |
| Net Income | -7.98 | -19.13 | -12.68 | -24.32 |
| Net Income Common Stockholders | -7.98 | -19.13 | -12.68 | -24.32 |
| Total Expenses | 258.29 | 281.66 | 300.71 | 281.98 |
| Interest Expense | 10.36 | 11.94 | 13.48 | 12.81 |
| Interest Income | 0.54 | 0.03 | 0.04 | 0.03 |
| Selling General And Administration | 38.98 | 26.93 | 27.30 | 35.09 |
| Normalized EBITDA | 9.14 | 6.93 | 7.09 | -4.23 |
| Normalized Income | -6.56 | -10.06 | -12.91 | -25.42 |
| Basic EPS | -0.38 | -0.72 | -0.47 | 0 |
| Diluted EPS | -0.38 | -0.72 | -0.47 | 0 |
| Tax Effect Of Unusual Items | -0.01 | -0.62 | 0.05 | 0.30 |
| Tax Rate For Calcs | 0.01 | 0.11 | 0.21 | 0.21 |
| Total Unusual Items | -1.44 | -5.63 | 0.24 | 1.41 |
| Total Unusual Items Excluding Goodwill | -1.44 | -5.63 | 0.24 | 1.41 |
| Net Income From Continuing Operation Net Minority Interest | -7.98 | -15.07 | -12.72 | -24.30 |
| Reconciled Depreciation | 5.21 | 6.31 | 5.81 | 6.04 |
| Reconciled Cost Of Revenue | 219.31 | 254.72 | 273.42 | 246.89 |
| Net Interest Income | -9.82 | -11.91 | -13.44 | -12.78 |
| Net Income From Continuing And Discontinued Operation | -7.98 | -19.13 | -12.68 | -24.32 |
| Total Operating Income As Reported | 3.39 | 2.27 | 1.24 | -7.76 |
| Diluted Average Shares | 20.56 | 26.60 | 26.88 | 0 |
| Basic Average Shares | 20.56 | 26.60 | 26.88 | 0 |
| Diluted NI Availto Com Stockholders | -7.98 | -19.13 | -12.68 | -24.32 |
| Minority Interests | -0.20 | 0.04 | -0.17 | -0.97 |
| Net Income Including Noncontrolling Interests | -7.78 | -19.17 | -12.51 | -23.36 |
| Net Income Discontinuous Operations | 0 | -4.06 | 0.04 | -0.02 |
| Net Income Continuous Operations | -7.78 | -15.11 | -12.55 | -23.33 |
| Other Income Expense | -1.44 | -7.32 | 0.24 | -1.14 |
| Other Non Operating Income Expenses | 0 | -1.69 | 0 | -2.55 |
| Gain On Sale Of Security | -1.44 | -5.63 | 0.24 | 1.41 |
| Net Non Operating Interest Income Expense | -9.82 | -11.91 | -13.44 | -12.78 |
| Interest Expense Non Operating | 10.36 | 11.94 | 13.48 | 12.81 |
| Interest Income Non Operating | 0.54 | 0.03 | 0.04 | 0.03 |
| Operating Revenue | 261.68 | 283.93 | 301.95 | 274.22 |
Consumer Defensive sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Forafric Global PLCthis co. | AFRI | $271M | - | -59.35 | -457.6% | 150.62 |
| Beyond Meat, Inc. | BYND | $378M | - | -407.65 | -17854.8% | -4.30 |
| The Honest Company, Inc. | HNST | $372M | - | 2.20 | -9.2% | 30.50 |
| Nu Skin Enterprises, Inc. | NUS | $351M | 2.25 | 0.43 | 19.9% | 2.87 |
| European Wax Center, Inc. | EWCZ | $318M | 29.00 |
| 3.20 |
| 8.3% |
| 8.80 |
| Alico, Inc. | ALCO | $315M | - | 3.16 | -136.4% | -23.96 |
| Franklin Covey Co. | FC | $244M | - | 6.36 | 4.6% | 12.32 |
| Limoneira Company | LMNR | $230M | - | 1.53 | -8.4% | -19.60 |
| Acme United Corporation | ACU | $157M | 17.72 | 1.33 | 8.7% | 9.85 |
| Peer Median | - | 17.72 | 1.86 | -1.9% | 5.83 | |