Company of the Month June 2023: Origin Enterprises reports revenue of over €1.92bn to date

Dublin-headquartered agri services firm Origin Enterprises has reported group revenue in excess of €1.92bn to date for the financial year. Origin Enterprises is our Company of the Month June 2023, in association with KPMG.

Company of the Month

The Company of the Month Award, in association with KPMG, recognises outstanding Irish companies. It especially acknowledges those who have made significant contributions to the business community of Ireland.

Recipients of the award are automatically put forward as candidates for the prestigious Company of the Year Award at the annual Business & Finance Awards.

Origin Enterprises

Origin Enterprises provides specialised agronomy services and supplies crop technologies and inputs to customers. The company was established in 2006 and is currently focused on “optimising sustainable agriculture.”

The firm employs approximately 2600 staff and serves 48000 customers across the globe.

Growth

According to a trading update published on June 15th, Origin Enterprises has enjoyed a revenue jump of over €1.92bn to date for the financial year. This is an increase of 9.3% compared to the same time period last year and was partially credited to prices in the agronomy and inputs businesses growing 20.6%.

Origin Enterprises has also strengthened its position in amenity, environment and ecology businesses with the acquisition of Keystone Environmental, Neo Environmental, Agrigem and British Hardwood Tree Nursery.

The company stated that weather conditions and product demand have improved in Q4 which bodes well for the agri-services firm moving forward.

Challenges

Despite the increase in revenue at Origin Enterprises, the firm also reported that growth declined in Q3.

“Performance in Q3 was impacted by more cautious on-farm sentiment and poor northern hemisphere in-field conditions delaying key crop input applications, however weather conditions and demand have subsequently improved into Q4,” the firm noted in the trading update.

During this period, which ended on April 30th, revenue in Ireland and the UK fell by over 21% to €489.6 million. Reported group revenue for the quarter stood at €741.5 million.

Underlying volumes for the period were also lower as they decreased by 12% year on year, when excluding crop marketing volumes. There was a decline of 13% in Ireland and the UK and 14% in Europe. This was offset by a 37.5% increase in Latin America during the same period.