Friday 21st January 2022
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In November 2021, ArborGen Holdings Limited (NZX: ARB ) (the Company) announced guidance of US GAAP EBITDA in the range of US$11.3 to $11.7 million for the fiscal year ending 31 March 2022 (FY22) subject to any future impact from supply chain and COVID related issues in the US. Since then the pandemic, including the recent emergence of Omicron, is continuing to cause significant disruptions in the industry ranging from transportation issues to labour shortages.
Accordingly the Company has re-estimated guidance of US GAAP EBITDA to be in the range of US$9.5 to US$10.5 million assuming a certain level of seedlings remain unsold. Almost all of this reduction in EBITDA is from a shortfall in sales of lower margin Open Pollinated (OP) seedlings.
The Company is pleased to confirm that it continues to be on track to deliver its highest Mass Control Pollinated (MCP) sales year in the US this year, with orders tracking 30+% higher than the fiscal year ending March 2021.
Please see the link below for details
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