Adecoagro (AGRO) Company Report

Adecoagro S.A. has commenced a public offering of $300,000,000 of its common shares.
The company has granted the underwriters the right to purchase up to an additional $11,100,000 of common shares.
Tether Investments S.A. de C.V., the controlling shareholder, has indicated an interest in purchasing approximately $200.0 million of these common shares.
J.P. Morgan and BofA Securities will act as global coordinators and joint book-running managers for the offering.

1 day ago

6-K

Adecoagro Announces Common Share Offering

AGRO

Adecoagro S.A. has commenced a public offering of $300,000,000 of its common shares.
The company's controlling shareholder, Tether Investments S.A. de C.V., has indicated an interest in purchasing approximately $200.0 million of these common shares, with management and other investors indicating interest in an additional $26.0 million.
Underwriters have been granted the right to purchase up to an additional $11,100,000 of common shares within 30 days after December 11, 2025.
J.P. Morgan and BofA Securities are serving as global coordinators and joint book-running managers for the offering.

1 day ago

Press Release

Adecoagro S.A. Files Shelf Registration Statement

AGRO

Adecoagro S.A. announced on December 1, 2025, that it has filed a shelf registration statement on Form F-3 with the SEC.
If and when declared effective by the SEC, this Shelf Registration will allow the company to offer and sell, from time to time, up to an aggregate of $500 million of its common shares, rights to subscribe for common shares, or a combination thereof.
The Shelf Registration has been filed but is not yet effective, and any offerings under it will be subject to market conditions and the company's discretion.

Dec 1, 2025, 10:59 PM

6-K

Adecoagro Files Shelf Registration Statement

AGRO

Adecoagro S.A. has filed a shelf registration statement (Form F-3) with the SEC.
This filing would allow the company to offer and sell, from time to time, up to an aggregate of $500 million of its common shares, rights to subscribe for common shares, or a combination thereof.
The Shelf Registration has been filed but is not yet effective, meaning securities may not be sold until it becomes effective.
Any offerings under the Shelf Registration will be subject to market conditions, the Company's capital needs, and limitations imposed by the SEC.

Dec 1, 2025, 10:32 PM

Press Release

AGRO Reports Q3 2025 Financial Results and Operational Updates

AGRO

Earnings

Dividends

New Projects/Investments

For the nine-month period ended September 30, 2025, AGRO reported revenues of $447,126 thousand, a decrease from $494,352 thousand in the prior year period, and a profit of $74,894 thousand, down from $203,710 thousand in 2024. For the third quarter of 2025, revenues were $226,981 thousand and profit was $51,502 thousand.
As of September 30, 2025, total assets were $1,028,625 thousand and total liabilities were $510,195 thousand.
The company distributed US$246,015 thousand in dividends on April 8, 2025, corresponding to the fiscal year 2024 results.
Subsequent to the reporting period, AGRO repaid US$200 million in short-term loans and promissory notes. A scheduled plant shutdown for equipment replacement also commenced in mid-October 2025, with anticipated expenditures of approximately US$90 million.

Dec 1, 2025, 9:34 PM

6-K

Adecoagro S.A. Advances Profertil Acquisition and Reports Q3 2025 Financial Results

AGRO

M&A

Earnings

Debt Issuance

Adecoagro S.A. is proceeding with the acquisition of 50% equity interest in Profertil S.A. from Nutrien Ltd. for approximately $600 million (Adecoagro's stake: $480 million), with completion expected by December 31, 2025. The company has also made a binding offer to acquire the remaining 50% from YPF S.A. for an additional $600 million, with YPF's board approval anticipated around December 11, 2025, and completion by year-end.
For the nine-month period ended September 30, 2025, revenue decreased 11.6% to $1,011,798 thousand from $1,144,687 thousand in the prior year period, while profit for the period significantly declined by 89.3% to $8,091 thousand compared to $75,923 thousand for the same period in 2024.
Net cash generated by financing activities for the nine-month period ended September 30, 2025, was $252.7 million, primarily driven by the issuance of $500.0 million senior notes due 2032.

Dec 1, 2025, 9:34 PM

6-K

Adecoagro Submits Binding Offer to Acquire YPF's Stake in Profertil S.A.

AGRO

M&A

New Projects/Investments

Takeover Bid

Adecoagro has submitted a binding offer to acquire YPF's 50% stake in Profertil S.A. for approximately US$600 million.
Upon consummation of the acquisition, Adecoagro will become the controlling shareholder of Profertil, owning 90% of the total share capital.
Profertil, the largest producer of granular urea in South America, generated an average annual EBITDA of approximately US$390 million over the 2020-2024 period.
The transaction is subject to YPF's Board of Directors' approval in December 2025 and is expected to be completed by December 31, 2025.

Dec 1, 2025, 9:30 PM

Press Release

Adecoagro Reports Q3 2025 Results, Highlights Record Crushing and Profertil Acquisition

AGRO

Earnings

M&A

Dividends

Adecoagro reported 9M25 Adjusted EBITDA of $206 million, a decrease from $341 million in 9M24, and Net Debt increased to $872 million in Q3 2025 from $646 million in Q3 2024.
The Sugar, Ethanol & Energy (SE&E) business achieved an all-time quarterly sugarcane crushing record and shifted its production mix to 58% ethanol and 42% sugar in Q3 2025, up from 45% ethanol in Q3 2024.
The company expects to close the acquisition of Nutrien's 50% stake in Profertil before year-end, a transaction valued at approximately $600 million, with an initial down payment of $96 million already made.
Shareholder distributions for 2025 include $35 million in cash dividends ($0.35 per share) and $10.2 million in share repurchases.

Nov 12, 2025, 3:00 PM

Presentation

Adecoagro Reports Q3 2025 Results and ProFertil Acquisition Update

AGRO

Earnings

M&A

Dividends

Adecoagro reported Q3 2025 consolidated adjusted EBITDA of $115 million, with year-to-date adjusted EBITDA reaching $206 million. Gross sales for Q3 totaled $323 million, marking a 29% year-over-year decline.
The Sugar, Ethanol, and Energy business achieved an all-time quarterly crushing record of 4.9 million tons in Q3 2025 and strategically switched production to maximize ethanol, contributing $120 million to adjusted EBITDA for the quarter.
The company signed an agreement to acquire a 50% stake in ProFertil, the largest producer of granular urea in South America, for approximately $600 million, with a $96 million advance payment already made. The closing is expected before year-end, subject to YPF's right of refusal.
Net debt increased to $872 million, resulting in a net leverage ratio of 2.8 times compared to 1.5 times in the prior year. The company plans to reduce leverage through cost-saving initiatives, a revision of its capital allocation strategy, and exploring potential capitalization structures.
Adecoagro's 2025 shareholder distribution amounted to $45 million, comprising $10 million in share repurchases (1.1% of equity) and $35 million in cash dividends, representing an annual dividend per share of $0.35 and a 4% dividend yield.

Nov 12, 2025, 3:00 PM

Transcript

Adecoagro S.A. Reports Q3 and 9M 2025 Results and Announces Strategic Acquisition

AGRO

Earnings

M&A

New Projects/Investments

Adecoagro S.A. reported total revenue of $1,011,798 thousand for the nine-month period ended September 30, 2025. Adjusted EBITDA for the Sugar, Ethanol & Energy business increased 20.3% year-over-year to $120.5 million in Q3 2025, but decreased 15.6% to $218.4 million for the nine-month period.
The company announced the acquisition of Nutrien Ltd.’s 50% interest in Profertil S.A., South America’s largest producer of granular urea, for approximately $600 million, with an initial down payment of $96 million. This acquisition is considered a transformational step to expand Adecoagro's agro-industrial platform and diversify its revenue base.
Operational highlights for Q3 2025 include an all-time crushing record of 4.9 million tons in the Sugar, Ethanol & Energy business, a 20.4% increase compared to Q3 2024, driven by a strategic switch to an ethanol maximization scenario due to greater margins.
As of September 30, 2025, Adecoagro's Net Debt/LTM Adjusted EBITDA stood at 2.8x, influenced by lower consolidated results and the advance payment for the Profertil acquisition.