Hectares under contract

45

110

200

290

370

Contracted smallholders

190

470

860

1 250

1 600

Employees at period end

128

286

452

604

742

Delivered field weight, tonnes

855

2 090

3 800

5 510

7 030

Bulk grade, tonnes

496

1 233

2 280

3 361

4 359

Prepared output, tonnes

31

255

620

1 005

1 363

Avocado, tonnes

0

716

1 517

2 213

2 800

Total shipped to Europe, tonnes

527

2 204

4 417

6 579

8 522

Share of field weight reaching Europe

62%

71%

76%

79%

81%

Contribution per field kilogram

EUR0.545

EUR0.755

EUR0.839

EUR0.852

EUR0.852

Revenue

2.98

10.01

19.73

29.20

37.60

Farmgate and produce purchases

(0.88)

(2.55)

(4.75)

(6.89)

(8.76)

Freight

(1.11)

(3.44)

(6.68)

(9.91)

(12.83)

Packhouse conversion, handling and delivery

(0.58)

(2.12)

(4.25)

(6.31)

(8.20)

Gross profit

0.41

1.90

4.05

6.10

7.82

Gross margin

13.8%

19.0%

20.5%

20.9%

20.8%

Operating expenses

(1.24)

(2.09)

(2.96)

(3.68)

(4.27)

EBITDA

(0.82)

(0.18)

1.09

2.42

3.55

EBITDA margin

-27.5%

-1.8%

5.5%

8.3%

9.4%

Depreciation

(0.22)

(0.55)

(0.66)

(0.77)

(0.85)

Interest

(0.29)

(0.36)

(0.43)

(0.49)

(0.54)

Profit / (loss) before tax

(1.33)

(1.09)

0.00

1.16

2.16

Taxation

—

—

—

—

(0.27)

Profit / (loss) after tax

(1.33)

(1.09)

0.00

1.16

1.89

Cumulative profit / (deficit)

(1.33)

(2.42)

(2.42)

(1.26)

0.63

Capital expenditure

(1.78)

(2.60)

(0.89)

(0.93)

(0.58)

Peak working capital

0.53

1.91

3.75

5.47

6.96

Receivables facility available

0.33

1.13

2.24

3.31

4.25

Unfunded gap

0.20

0.78

1.51

2.16

2.71

Closing cash

5.91

2.21

1.04

1.10

2.63

Total assets

7.70

6.44

7.81

9.92

12.26

Total equity

4.67

3.58

3.58

4.74

6.63

Gearing

39.1%

43.7%

53.2%

51.1%

44.6%