12th Jun 2025 14:25
(Alliance News) - Origin Enterprises PLC on Thursday reported higher revenue in the first nine months of its financial year, citing favourable in-field conditions in Poland and lower disease pressure in Ireland and the UK.
The Dublin-based agronomy services firm said revenue rose to EUR1.59 billion in the nine months to April 30, up 4.1% from a year ago.
Revenue in Ireland and the UK rose 6.7% on-year to EUR901.3 million, with the firm citing dry conditions resulting in lower disease pressure and yield expectations, amid weaker output pricing.
In continental Europe, however, revenue fell 2.6% to EUR443.8 million, mostly due to lower revenue in the crop marketing division amid lower grain prices. Excluding crop marketing, revenue was up 5.7% in the region, Origin Enterprises highlighted.
"In Poland, spring crops have progressed well, supported by favourable in-field conditions that enabled timely planting. Underlying input demand remains strong, reflecting confidence in crop performance and overall market stability," the company said.
Chief Executive Officer Sean Coyle said: "Improved momentum in Q3 was driven by favourable application conditions for crop inputs and an increased winter cropping area in the Northern Hemisphere, together with strong demand in Living Landscapes supported by recent acquisitions.
"Despite the impact of the depreciation of the Brazilian real versus the euro, we expect our increasingly diversified earnings base will result in operating profit growth in 2025 and guide full year adjusted diluted earnings per share of 50 to 52 cents. We remain on track to deliver the group's stated financial and operational targets for the period FY2022 to FY2026 as outlined at the 2022 Capital Markets Day."
The company will release results for the financial year ending July 31 on September 23.
Origin Enterprises shares were 3.6% higher at EUR3.65 each on Thursday afternoon in London.
By Tom Budszus, Alliance News slot editor
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