WINNIPEG, MB, March 31, 2022 /CNW/ – (TSX:BUI)

Income

Turnover for the fifteen month period was $317.2at the top $67.6 of the sale of $249.6 in 2020. The increase in the Company’s sales growth for the period mainly results from the change in accounting to a December year-end in 2021. Included in 2021 are fifteen months of sales compared to twelve months of sales in 2020.

Fifteen month end of year December 31, 2021 and twelve month year ending September 30, 2020


One year ago

Turnover (millions)

$317.2

$249.6

Net income/(loss) (millions)

$8.9

($25.8)

Net income/(loss)/share

$0.36

($1.03)

Shares issued (millions)

25.0

25.0

Net income up for the year

Net profit for the fifteen month period was $8.9an improvement of $34.7 of the previous year’s loss. Increase in gross profit by $21.4 most of the improvement over the previous year. In addition, the Company recorded a gain on the sale of the intellectual property of $12.7 and the increase in asset disposals of $0.8 compared to the previous year. Currency gains contributed $3.1 compared to the previous year. Finally, a gain on debt forgiveness of $1.5 and reduced taxes $1.2 were offset by an increase in selling and administrative expenses of $4.6 and R&D of $1.2 mainly due to having five quarters in 2021 instead of four quarters in 2020.

Looking forward to

An increase in sales is expected for the year. The Company has a large backlog that continues to grow due to strong demand for agricultural machinery and equipment. Increased sales will require additional inventory and accounts receivable to support sales growth. The Company continues to address supply chain challenges faced by agricultural manufacturers as it strives to improve shipments. The Company expects improved margins resulting from increased customer demand and lower manufacturing costs that were implemented in the prior year.

Complete financial statement: http://www.buhlerindustries.com/pages/investors.php

Trade symbol: BUI

SOURCEBühler Industries Inc.

For further information: Willy Janzen, Chief Financial Officer, Phone: (204) 654-5718, Email: [email protected]

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