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March 31, 2016

China

Sino Agro Food’s Audited Financial

Results for Fiscal Year 2015

 

In its 2015 fiscal year, revenues at Sino Agro Food (SIAF) increases 6% to $429.1 million, with earnings per share of $3.60.

 

Aquaculture revenue from the sale of goods decreased by 19 percent to $87.3 million, from $107.3 million in 2014.  The decrease was mainly due to lower sales of eels (-44%) and sleepy cod (-83%) and only partially offset by an increase in prawn sales (50%).  Despite higher overall production volume with annual seafood production of 6,762 metric tons, revenue decreased due to a sales mix with a lower share of eels, which receive a higher price per kilo than prawns.

 

Aquaculture revenue from project development increased by 15 percent to $86.6 million, from $75.2 million in 2014.  Construction and development work done on the Zhongshan Mega Farm totaled $65.4 million.

 

Gross profit for 2015 decreased 14 percent to $111.2 million, from $129.3 million in 2014, equivalent to a profit margin of 25.0%, compared 32.0% in 2014.

 

As of December 31, 2015, SIAF had unrestricted cash and cash equivalents of $7.23 million, compared to $3.03 million at the end of 2014; and net working capital of $322.4 million, compared to $229.4 at the end of 2014.  Current liabilities increased to $228.4 million at year-end 2015, from $52.3 million in 2014.

 

As of December 31, 2015, the outstanding common share count was 20,133,757, versus 17,162,716 on December 31, 2014.

 

SIAF will host a conference call with questions and answers on Monday, April 18, 2016 (10:00 a.m., USA, Eastern Daylight Time; and 4:00 p.m., Central European Time) to discuss its financial results in 2015.  To participate in the conference, call one of the numbers below before the conference begins and provide the following pincode 21168316#.

 

Phone Numbers

Sweden: 46-8-5059-63-06

Norway: 47-23-50-05-59

United States: 1-866-928-7517

United Kingdom: 44-203-139-48-30

China:  86-400-681-54-21

 

The conference will also be available online, click here.

 

Other Information: News and updates about Sino Agro Food, Inc., are published on the company’s website (http://www.sinoagrofood.com), the Company’s Facebook page (https://www.facebook.com/SinoAgroFoodInc) and on Twitter @SinoAgroFood.

 

Information: Peter Grossman, Investor Relations, Sino Agro Food, Inc. (Phone 1-775-901-0344, Email info@sinoagrofood.com and Erik Ahl, Nordic Countries, Phone +46-0-760-495-885, Email erik.ahl@sinoagrofood.com, webpage http://sinoagrofood.investorroom.com/index.php?s=43&item=177).

 

Source: Email to Shrimp News International.  Subject: Sino Agro Food, Inc. Reports FY 2015 Audited Results.  From: Sino Agro Food.  March 30, 2016.

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