Bioceres Crop Solutions Corp. (NASDAQ:BIOX) Q4 2023 Earnings Conference Call September 11, 2023 4:30 PM ET
Company Participants
Paula Savanti - Head of Investor Relations
Federico Trucco - Chief Executive Officer
Enrique Lopez Lecube - Chief Financial Officer
Conference Call Participants
Ben Klieve - Wake Street Capital Market
Kristen Owen - Oppenheimer
Bobby Burleson - Canaccord
Kemp Dolliver - Brookline Capital Markets
Brian Wright - ROTH MKM
Operator
Good afternoon. Thank you for attending today's Bioceres Crop Solutions Fiscal Fourth Quarter and Full-Year 2023 Financial Results Conference Call. My name is Hannah and I will be your moderator for today's call. All lines will be muted during the presentation portion of the call with an opportunity for questions-and-answers at the end. [Operator Instructions]
I would now like to pass the conference over to our host Paula Savanti, Head of Investor Relations. You may go ahead.
Paula Savanti
Thank you. Good afternoon and welcome. Thank you everyone for joining our call. Presenting today during the call will be Federico Trucco, our Chief Executive Officer, and Enrique Lopez Lecube, our Chief Financial Officer. Both will be available for the Q&A session.
Before we proceed, I would like to make the following Safe Harbor statement. Today's call will contain forward-looking statements, and I refer you to the forward-looking statements section of today's earnings release and presentation, as well as the recent filings with the SEC. We assume no obligation to update or revise any forward-looking statements to reflect new or changed circumstances. This conference call is being webcast and the webcast link is available at Bioceres Crop Solutions Investor Relations website.
At this time, I will turn the call over to our CEO Federico Trucco. Thank you.
Federico Trucco
Thank you, Paula, And thanks to everyone that is joining us today in our fourth quarter and full fiscal year 2023 earnings call.
Good afternoon, please turn to slide three for a brief overview of the highlights of this call. While fiscal year 2023 was challenging, mostly due to external conditions, it was one during which we proved the resiliency of our organization, adjusting business plans to ensure we continue to outperform. So, what have we accomplished in fiscal ‘23?
First, we continue to grow at double-digit rates and as you will see in a minute, this growth comes after a record year in fiscal ’22. Our growth in profitability as measured by our adjusted EBITDA, which grew by 31% over $81 million, was even more impressive when you know that we're not-longer excluding hedge before inventory ramp-up costs as we did in prior years, and that we are fully integrating ProFarm, a business that was not profitable at the time of our acquisition a year ago.