BEVO AGRO INC. BEVO AGRO INC. REPORTS FISCAL 2014 RESULTS

BEVO AGRO INC.
7170 Glover Road,
Langley, BC V0X 1T0
(www.bevoagro.com)
NEWS RELEASE
(Langley, BC.)
October 20, 2014
BEVO AGRO INC. REPORTS FISCAL 2014 RESULTS.
Bevo Agro Inc. (TSXV: BVO) sales for the year ending June 30, 2014 totaled $23,309,085, an increase of
$2,721,881 or 17% over the previous year. Sales for the same 12 month period in 2013 totaled $20,587,204. Sales
to Canadian clients increased by 28%. Approximately 90% of Bevo’s sales result from repeat orders through
recurring multiyear contracts.
The acquisition of additional land and greenhouse facilities located in Pitt Meadows, BC was announced on June 11,
2014. The acquisition had no material impact on the financial results for the year ending June 30, 2014.
Gross profit for the 12 months was $5,918,741 compared to $5,083,066 for fiscal 2013. Gross margin percentages
are consistent with previous years.
Earnings before interest, taxes, depreciation and amortization (EDITDA) increased 17% to $3,359,710 over
EBITDA of $2,815,045 for the year ending June 30, 2013.
General operating and employee expenses increased by $105,731 with the increased sales however are constant with
previous years as a percentage of sales.
Interest expense declined slightly, with reduced borrowings. The company maintains a balance of fixed and floating
rates on borrowings as a hedge against interest rate fluctuations.
The company did not incur any losses for bad debts in the most recent year as it monitors customer receivables on a
regular basis.
Net earnings for the year ending June 30, 2104 were $738,745 (3% of sales) compared to $184,533 (1% of sales)
last year.
Financial Summary
For the year ending
Sales
Cost of Sales
Gross Margin
Expenses
General Operating
Employee Wages & Benefits
Amortization
Interest expenses
Provision for Bad debts
Earnings (loss) from operations
June 30, 2014
$23,309,085
$17,390,344
100%
75%
June 30, 2013
$20,587,204
$15,504,138
100%
75%
$5,918,741
25%
$5,083,066
25%
$1,251,056
$1,327,364
$1,575,427
$861,038
$0
5%
6%
7%
4%
$1,259,385
$1,213,304
$1,580,709
$890,049
$0
6%
6%
8%
4%
$903,856
4%
$139,619
1%
Other
Earnings before taxes
Income taxes-current
Income taxes-future
$19,389
$923,245
$0
$184,500
0%
4%
$19,324
$158,943
$0
-$25,590
0%
1%
Net earnings (loss) for period
Other comprehensive income
Net income and comprehensive income
$738,745
$742,500
$1,481,245
3%
$184,533
$0
$184,533
1%
EBITDA
$3,359,710
14%
$2,815,045
14%
Shares o/s
EPS/Share
EBITDA/share
25,535,933
$0.03
$0.13
1%
0%
25,535,933
$0.01
$0.11
Because revenue is accounted as “when goods are shipped”, the Company provides the following summary of
trailing twelve month financial performance.
Twelve months ending
Sales
Gross Margin
Net earnings (loss) for period
EBITDA
June 30. '11
$18,263,703
$4,538,849
$44,128
$2,210,728
June 30. '12
$18,897,742
$4,757,872
$571,781
$2,605,826
June 30. '13
$20,587,204
$5,083,066
$184,533
$2,815,045
June 30. '14
$23,309,085
$5,918,741
$738,745
$3,359,710
Summary of the Consolidated Balance Sheet dated June 30, 2014
ASSETS
Current
Property, Plant, Equip.
Goodwill
$5,209,942
$32,681,474
$522,665
$38,414,081
LIABILITIES
Current
Long term
Deferred income tax
Shareholder Equity
$3,728,574
$17,208,836
$1,581,099
$15,895,572
$38,414,081
Readers are encouraged to view the Company’s year-end audited financial statements and accompanying MD&A at
www.sedar.com.
Bevo Agro is North America's leading supplier of propagated agricultural plants, growing and distributing
vegetable, flower, berry and other plant seedlings to North America's growers. Bevo propagates quality seedlings
and plants for wholesale vegetable greenhouse growers, field growers and nursery operators from state of the art
greenhouse facilities located in Langley, BC and Pitt Meadows, BC.
For further information contact;
Jack Benne, President
Bevo Agro Inc.
Phone: (604) 888-0420
Fax: (604) 888-8048
Email: [email protected]
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of
the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.