Upstream Ag Professional - May 5th 2024

Essential news and analysis for agribusiness leaders

Welcome to the 40th Edition of Upstream Ag Professional!

Quarterly results have begun to trickle out from agribusinesses. In the coming weeks I’ll share a highlights and summary edition, contextualizing the more important takeaways and themes, so I have refrained from linking every single company result within Upstream.

Index:

1. Yara 2023 Annual Report Highlights and Analysis

2. Marketplaces in Agriculture

   1. Landus to Transform Farm Cooperative with Launch of Farmer-Owned Technology Platform

   2. GROWERS Gives Ag Retailers and Manufacturers a New Way to Maintain and Grow Customer Loyalty with Flexible Rewards System

3. CNH Expands Network Connectivity with Intelsat Collaboration

4. Is John Deere Losing Ground in Drones or Is The Market Just Not Ready?

5. Solinftec Autonomous Filling Video + Solinftec and the Solix Autonomous Platform: Reimagining Farming from First Principles

6. BHP’s High-Stakes Tilt for AngloAmerican: The Agriculture Considerations

7. Indigo Ag Sets Out Plan for Renewal in Accelerated Drive to Profitability and Growth: Focused Efforts

8. What Does The Future of Ag Retail Look Like?

9. Highlights from Pitchbook’s Q1 2024 AgTech Report

10. LLM Search Functionality

11. The Economics of Generative AI

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1. Yara 2023 Annual Report Highlights and Analysis - Upstream Ag Professional

Key Takeaways:

• Revenue was down below 2021 levels at $15.5 Billion, with operating income and operating margins the lowest since 2009 and EBITDA the lowest since 2017

• Yara had the lowest return on invested capital of any major fertilizer company in 2023.

• Yara has a digital hectare target of 150 million globally. As of end of 2023, they reported 23 million.

• The Agoro Carbon business could have revenue as high as $45 million.

• Research and Development (R&D) expenditure amounted to $113 million in 2023, compared to $95 million in 2022.

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Check out the link for the full highlights and analysis, which includes the following:

1. Overview and Financial Metrics

2. Strategy Highlights

3. KPI Distortion, Digital Farming Solutions, Yara FX Insight

4. Regenerative Ag and Agoro Carbon Alliance Approach and Revenue

5. Premium Generated (through Premium Products)

6. Yara Amplix (Biostimulants) and The Sauce Paradox

7. Research and Development and Corporate VC

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2a. Landus to Transform Farm Cooperative with Launch of Farmer-Owned Technology Platform - PR Newswire

Key Takeaways