From GlobeNewswire: 2025-03-13 07:00:00

Village Farms International reported a 18% increase in consolidated sales to $336.2 million for the full year of 2024. Canadian Cannabis sales grew by 31% year-over-year, with retail branded sales up by 23%. The company holds the #1 market share in dried flower, #2 in pre-rolls, and #3 overall market share in 2024. Full-year consolidated cash flow from operations was $10.3 million.

In the fourth quarter of 2024, Village Farms saw a 11% increase in consolidated sales to $82.6 million. International sales grew by 113% year-over-year, with expectations to triple in 2025. Adjusted EBITDA was impacted by a non-cash inventory impairment of $10.5 million. The company also broke ground on a Phase II expansion in the Netherlands to increase production capacity.

President and CEO, Michael DeGiglio, noted the positive growth trends in the Canadian Cannabis business, with strong performance in Q4. Despite the inventory impairment, the business closed the year with a healthy cash flow of $10.3 million. The company is also focused on international sales growth, with plans to triple medicinal export sales in 2025.

Village Farms is optimistic about its profitable growth strategy for 2025 and beyond. The company aims to establish a global leadership position in regulated cannabis. With key developments and strong performance in various segments, Village Farms is confident in its ability to execute and deliver a successful year of growth.



Read more at GlobeNewswire:: Village Farms International Reports Q4 and Full Year 2024