Nufarm Ltd

NUF: XASX (AUS)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Nufarm Earnings: Working Capital Reduction Impresses in Otherwise Weak Pricing Environment

Mark Taylor , Adrian Atkins

Nov 15, 2024

Agricultural innovator no-moat Nufarm reported a 31% decline in underlying fiscal 2024 EBITDA to AUD 287 million, in line with our expectations. No great surprises there, as the firm only recently downgraded guidance. However, underlying net profit after tax fell 103% to negative AUD 4 million, worse than our expectations due to higher-than-anticipated depreciation.

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Nufarm Ltd

Nufarm Earnings: Working Capital Reduction Impresses in Otherwise Weak Pricing Environment

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