Borges Agricultural & Industrial Nuts (BAIN) closes the fiscal year ended May 31, 2022 with an Adjusted EBITDA of €5.2 million. The cumulative turnover reaches 136.1 million euros with the commercialization of 35,358 tones, with almonds being the best-selling product, reaching 66% in value of total sales, followed by walnuts, with 8%. BAIN maintains its focus on the internalization of its business with the commercialization of its products in 56 countries around the world where exports have accounted for 52.6% of its turnover, € 71.6 million, with Germany, France and the United Kingdom being the main export countries with 27.4% of turnover.
Borges Agricultural & Industrial Nuts improves its level of financial indebtedness by 19%, from €30 million the previous year to €24 million.
BAIN is firmly committed to the KM0 agricultural business under Sustainability criteria
BAIN with a clear focus on local agricultural development manages a total of 2. 446 hectares, located in Portugal and Spain, of almond, pistachio and walnut trees. These hectares include 434 hectares of the BAIN Pistachio Project, which have increased by 47% compared to the second half of the previous year, as a result of vertical cooperation with more than 70 producers from the provinces of Huesca, Lleida and Tarragona, offering an alternative for improving agricultural income.
BAIN plantations located in the Iberian Peninsula aim to market KM 0 product grown under responsible agriculture criteria. For this reason, BAIN carries out actions such as joining the EsAgua platform, which allows the calculation of the water footprint or the certification of all farms that are in production with the GLOBAL GAP (Good Agricultural Practices) seal, one of the international standards in terms of good agricultural practices and sustainable agriculture. Currently there are 1.292 hectares certified. It also has a plan to reconvert the oldest walnut and pistachio plantations, turning them into more responsible plantations with more efficient use of resources.
Additionally, the Company dedicates a total of 104.1 hectares to the conservation of the environment and biodiversity.