- Saputo (SAP) reports financial results for Q4 2021 and fiscal year ended on March 31, 2022
- The company’s year-end revenues totalled C$3.957 billion, up C$519 million or 15.1 per cent YoY
- The company expects a meaningful recovery in earnings in fiscal 2023
- Saputo Inc. (SAP) is up 0.69 per cent, trading at C$26.10 at 1 pm ET
Saputo (SAP) has reported Q4 and year-end financial results.
The company’s revenues totalled C$3.957 billion, up C$519 million or 15.1 per cent.
Net earnings totalled C$37 million compared to C$103 million of net earnings.
Adjusted EBITDA amounted to C$260 million, down C$43 million or 14.2 per cent.
Net cash generated from operations amounted to C$184 million, up C$33 million or 21.9 per cent.
Lino A. Saputo, Chair of the Board, President, and CEO admitted that the Q4 was challenging, notably in the U.S., as the company navigated through commodity price volatility, increases in input and logistics costs, and labour and supply constraints, made even tougher by the Omicron surge.
“Despite a challenging year, we maintained our ability to generate strong operating cash flows, a testament to our diversified global platform. We remain committed to executing on our strategic objectives and believe we have the right strategies in place to deliver sustainable, profitable growth over the long-term. My ongoing gratitude goes to all Saputo employees for their outstanding efforts, and we are committed to ensuring a safe, healthy, and rewarding work environment in the year ahead.”
The company expects a meaningful recovery in earnings in fiscal 2023, while inflation and supply chain disruptions are likely to persist.
Saputo produces, markets, and distributes a wide array of dairy products of the utmost quality, including cheese, fluid milk, extended shelf-life milk and cream products, cultured products, and dairy ingredients.
Saputo is one of the top ten dairy processors in the world, a leading cheese manufacturer and fluid milk and cream processor in Canada, the top dairy processor in Australia, and the second largest in Argentina.
Saputo Inc. (SAP) is up 0.69 per cent, trading at C$26.10 at 1 pm ET.