Harvest Minerals Limited Q4 and FY 2021 KP Fértil(R) Sales & 2022 Guidance (9169X)
January 10 2022 - 3:07AM
UK Regulatory
TIDMHMI
RNS Number : 9169X
Harvest Minerals Limited
10 January 2022
Harvest Minerals Limited / Index: LSE / Epic: HMI / Sector:
Mining
10 January 2022
Harvest Minerals Limited ('Harvest' or the 'Company')
Fourth Quarter and Annual 2021 KP Fértil(R) Sales Performance
and 2022 Guidance
Harvest Minerals Limited, the AIM listed remineraliser producer,
is pleased to provide an update on sales of its organic,
multi-nutrient fertiliser, KP Fértil(R), from its 100% owned Arapua
Fertiliser Project in Brazil ('Arapua') during the fourth quarter
and annual 2021.
Highlights:
-- Accumulated sales by end of December 2021 reached 85,030 tonnes
o 6.3% above 2021 sales target
o 57% increase over 2020 sales
o 46% CAGR over the last three years
-- 22,984 tonnes of KP Fértil(R) sold in Q4 2021
o 105% higher than management budget of 11,200 tonnes
o Represents a 42% increase in total tonnage compared to Q4
2020
-- 2022 Sales guidance established at 150,000 tonnes, or 76% increase from 2021
o Substantial sales orders for 2022 started to be placed towards
the end of 2021
Brian McMaster, Chairman of Harvest, said: "2021 was a breakout
year for Harvest. Our annual sales performance has grown
exponentially over the last three full years as the quality and
value of our product has been recognised by the market. We have
seen repeat clients increasing their orders while adding new
clients to our portfolio at a pace faster than anticipated. With a
high rate of client retention, continued penetration of our product
and very strong end of the year, we have high hopes for 2022. On
behalf of the Harvest team, I would like to thank the continued
support of our shareholders and wish all a happy new year."
Review of Sales
During the fourth quarter of 2021, Harvest's sales performance
achieved a total volume of 22,984 tonnes of its KP Fértil(R),
representing a 105% increase over the sales realised in the same
period of 2020. The total 2021 accumulated sales achieved 85,030
tonnes compared to 54,115 tonnes in the year of 2020 and 27,559
tonnes in 2019. Such sales performance represents a 46% CAGR
(Compound Annual Growth Rate) over the last three years.
Based on the success of 2021, discussions with customers and
continued strong activity of the agricultural sector in Brazil,
Harvest is forecasting its calendar 2022 sales volume to be 150,000
tonnes. This represents a substantial increase over 2021 and is
consistent with the Company's experiences of the business growing
year on year. The Company has seen encouraging sales orders already
placed for 2022, which are now under its credit assessment.
**ENDS**
For further information, please visit www.harvestminerals.net or
contact:
Harvest Minerals Limited Brian McMaster Tel: +44 (0) 203
(Chairman) 940 6625
Strand Hanson Limited Ritchie Balmer Tel: +44 (0) 20
Nominated & Financial James Spinney 7409 3494
Adviser
Shard Capital Partners Damon Heath Tel: +44 (0) 20 7186
Broker 9900
St Brides Partners Ltd I sabel de Salis Tel: +44 (0) 20 7236
Financial PR O onagh Reidy 117
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END
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