Viterra Inc. reported a net loss of C$920,000 ($0.00 per diluted share) on sales of $1.42 billion for the fourth quarter ending Oct. 31, 2009, compared to year-ago $46.8 million ($.20 per share) and $1.72 billion, respectively. EBITDA dropped to $40.2 million from $100.2 million.
Gross profit and net revenues from Viterra’s Agri-Products segment, which includes fertilizer, were $36.5 million with an EBITDA of $4.5 million on sales of $240.1 million for the fourth quarter, down from the year-ago $89.8 million, $44 million, and $308.1 million, respectively. Viterra says the decreases were largely a reflection of lower fertilizer prices, slightly offset by higher sales volumes of dry fertilizer. It noted that year-ago fertilizer prices were at record highs. Viterra said that anhydrous ammonia volumes were up in the fourth quarter, but that excessive moisture in the current and last year fourth quarters limited application.
Fourth-quarter North American fertilizer sales dropped to $103.8 million from the year-ago $228.1 million. Crop protection sales were up, at $47.1 million from $41 million. Seed sales were off at $1.17 million from $1.6 million, while equipment sales and other revenue were up, at $47.4 million from $37.4 million.
Viterra remained in the plus column for the year, though results were down, to $113.1 million ($.45 per share) on sales of $6.6 billion, versus the year-ago $288.3 million ($1.31 per share) and $6.78 billion. EBITDA dropped to $323.7 million from $532.6 million.
Agri-Product gross profit and revenues were $278.6 million for the year with EBITDA of $122.6 million, down from the year-ago $437.6 million and $276.9 million, respectively. Sales dropped $55.3 million, to $1.6 billion from the prior year.
For the year, fertilizer sales were $897.3 million, down from the year-ago $1.01 billion, while crop protection sales were $406.9 million, down from $416.8 million. Seed sales were up at $184.4 million from $174.5 million, while equipment/other were as well, to $101.7 million from $83 million.