AFRI
AFRI
Forafric Global PLCIncome Statement
| Period | Revenue | Operating Expense | Net Income | Net Profit Margin | Earnings Per Share | EBITDA |
|---|---|---|---|---|---|---|
| Q2-2024 | $82.62M | $11.16M | $-6.38M | -7.72% | $-0.24 | $1.8M |
| Q1-2024 | $82.62M ▲ | $11.16M ▲ | $-6.38M ▼ | -7.72% ▼ | $-0.24 ▼ | $1.8M ▼ |
| Q4-2023 | $79.93M | $5.05M ▼ | $-2.03M | -2.54% | $-0.08 | $2.73M |
| Q3-2023 | $79.93M ▲ | $7.07M ▼ | $-2.03M ▲ | -2.54% ▲ | $-0.08 ▲ | $2.73M ▲ |
| Q2-2023 | $72.81M | $7.51M | $-4.31M | -5.92% | $-0.16 | $350K |
What's going well?
Revenue is steady, and there are no new negative surprises. The company is not losing more money than before, and costs are under control.
What's concerning?
The company is still losing money every quarter, with no sign of improvement or growth. Margins are low, and interest expense continues to weigh on results.
Balance Statement
| Period | Cash & Short-term | Total Assets | Total Liabilities | Total Equity |
|---|---|---|---|---|
| Q4-2024 | $12.23M | $246.08M | $240.76M | $-1.67M |
| Q3-2024 | $12.23M ▼ | $246.08M ▼ | $240.76M ▼ | $-1.67M ▼ |
| Q2-2024 | $16.37M | $287.12M | $270.81M | $9.38M ▼ |
| Q1-2024 | $16.37M ▼ | $287.12M ▼ | $270.81M ▼ | $9.38M ▼ |
| Q4-2023 | $24.02M | $309.45M | $280.24M | $22.8M |
What's financially strong about this company?
The company has significant investments in property and equipment, and some customers are prepaying for services. Asset base is mostly tangible.
What are the financial risks or weaknesses?
Cash is dangerously low, debt is very high and mostly due soon, and equity is negative. The company is relying on stretching payments and may need new funding to survive.
Cash Flow Statement
| Period | Net Income | Cash From Operations | Cash From Investing | Cash From Financing | Net Change | Free Cash Flow |
|---|---|---|---|---|---|---|
| Q2-2024 | $-6.38M | $6.7M | $-332K | $-10.05M | $0 | $6.41M |
| Q1-2024 | $-6.38M ▼ | $6.7M ▼ | $-332K ▲ | $-10.05M ▼ | $0 ▲ | $6.41M ▼ |
| Q4-2023 | $-2.03M | $11.29M | $-2.83M | $-8.63M | $-567K | $8.59M |
| Q3-2023 | $-2.03M ▲ | $11.29M ▲ | $-2.83M ▼ | $-8.63M ▼ | $-567K ▼ | $8.59M ▲ |
| Q2-2023 | $-4.31M | $5.37M | $-2.09M | $-1.97M | $164K | $3.31M |
What's strong about this company's cash flow?
The business generates $6.7 million in cash from operations and $6.4 million in free cash flow each quarter, despite reporting accounting losses. Cash flow is steady and not reliant on outside funding.
What are the cash flow concerns?
There is no cash on the balance sheet, which is risky if anything unexpected happens. No cash is being returned to shareholders, and the positive working capital impact may not last.
5-Year Trend Analysis
A comprehensive look at Forafric Global PLC's financial evolution and strategic trajectory over the past five years.
AFRI’s key strengths are its established position in regional grain processing, its integrated value chain from trading and storage to branded products, and its substantial physical and logistical infrastructure. Modernization efforts, long‑standing customer and supplier relationships, and a broadened product portfolio provide a solid industrial base from which to pursue growth and diversification.
The main risks center on weak profitability, heavy leverage, negative equity, and strained liquidity, all of which limit financial resilience. Thin margins, high overheads, and sizable interest costs create ongoing pressure on earnings and cash flows, while expansion into new sectors such as defense and energy introduces execution and strategic risk in areas where the company has limited track record.
The outlook depends on AFRI’s ability to stabilize its finances while extracting more value from its integrated agribusiness platform and carefully pacing its diversification. Strengthening margins, tightening costs, and improving the balance sheet would be crucial for turning its infrastructure and strategic ambitions into sustainable value; until then, the story remains one of operational potential weighed down by financial fragility and execution uncertainty.
About Forafric Global PLC
https://forafric.comForafric Global PLC engages in the purchase, storage, transport, processing, and sale of agricultural commodities and commodity products in Morocco and Sub-Saharan Africa. The company offers flour and semolina; and secondary processing products, such as pasta and couscous under the Tria and MayMouna brands.
Income Statement
| Period | Revenue | Operating Expense | Net Income | Net Profit Margin | Earnings Per Share | EBITDA |
|---|---|---|---|---|---|---|
| Q2-2024 | $82.62M | $11.16M | $-6.38M | -7.72% | $-0.24 | $1.8M |
| Q1-2024 | $82.62M ▲ | $11.16M ▲ | $-6.38M ▼ | -7.72% ▼ | $-0.24 ▼ | $1.8M ▼ |
| Q4-2023 | $79.93M | $5.05M ▼ | $-2.03M | -2.54% | $-0.08 | $2.73M |
| Q3-2023 | $79.93M ▲ | $7.07M ▼ | $-2.03M ▲ | -2.54% ▲ | $-0.08 ▲ | $2.73M ▲ |
| Q2-2023 | $72.81M | $7.51M | $-4.31M | -5.92% | $-0.16 | $350K |
What's going well?
Revenue is steady, and there are no new negative surprises. The company is not losing more money than before, and costs are under control.
What's concerning?
The company is still losing money every quarter, with no sign of improvement or growth. Margins are low, and interest expense continues to weigh on results.
Balance Statement
| Period | Cash & Short-term | Total Assets | Total Liabilities | Total Equity |
|---|---|---|---|---|
| Q4-2024 | $12.23M | $246.08M | $240.76M | $-1.67M |
| Q3-2024 | $12.23M ▼ | $246.08M ▼ | $240.76M ▼ | $-1.67M ▼ |
| Q2-2024 | $16.37M | $287.12M | $270.81M | $9.38M ▼ |
| Q1-2024 | $16.37M ▼ | $287.12M ▼ | $270.81M ▼ | $9.38M ▼ |
| Q4-2023 | $24.02M | $309.45M | $280.24M | $22.8M |
What's financially strong about this company?
The company has significant investments in property and equipment, and some customers are prepaying for services. Asset base is mostly tangible.
What are the financial risks or weaknesses?
Cash is dangerously low, debt is very high and mostly due soon, and equity is negative. The company is relying on stretching payments and may need new funding to survive.
Cash Flow Statement
| Period | Net Income | Cash From Operations | Cash From Investing | Cash From Financing | Net Change | Free Cash Flow |
|---|---|---|---|---|---|---|
| Q2-2024 | $-6.38M | $6.7M | $-332K | $-10.05M | $0 | $6.41M |
| Q1-2024 | $-6.38M ▼ | $6.7M ▼ | $-332K ▲ | $-10.05M ▼ | $0 ▲ | $6.41M ▼ |
| Q4-2023 | $-2.03M | $11.29M | $-2.83M | $-8.63M | $-567K | $8.59M |
| Q3-2023 | $-2.03M ▲ | $11.29M ▲ | $-2.83M ▼ | $-8.63M ▼ | $-567K ▼ | $8.59M ▲ |
| Q2-2023 | $-4.31M | $5.37M | $-2.09M | $-1.97M | $164K | $3.31M |
What's strong about this company's cash flow?
The business generates $6.7 million in cash from operations and $6.4 million in free cash flow each quarter, despite reporting accounting losses. Cash flow is steady and not reliant on outside funding.
What are the cash flow concerns?
There is no cash on the balance sheet, which is risky if anything unexpected happens. No cash is being returned to shareholders, and the positive working capital impact may not last.
5-Year Trend Analysis
A comprehensive look at Forafric Global PLC's financial evolution and strategic trajectory over the past five years.
AFRI’s key strengths are its established position in regional grain processing, its integrated value chain from trading and storage to branded products, and its substantial physical and logistical infrastructure. Modernization efforts, long‑standing customer and supplier relationships, and a broadened product portfolio provide a solid industrial base from which to pursue growth and diversification.
The main risks center on weak profitability, heavy leverage, negative equity, and strained liquidity, all of which limit financial resilience. Thin margins, high overheads, and sizable interest costs create ongoing pressure on earnings and cash flows, while expansion into new sectors such as defense and energy introduces execution and strategic risk in areas where the company has limited track record.
The outlook depends on AFRI’s ability to stabilize its finances while extracting more value from its integrated agribusiness platform and carefully pacing its diversification. Strengthening margins, tightening costs, and improving the balance sheet would be crucial for turning its infrastructure and strategic ambitions into sustainable value; until then, the story remains one of operational potential weighed down by financial fragility and execution uncertainty.

CEO
Khalid Assari
Compensation Summary
(Year )
ETFs Holding This Stock
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Institutional Ownership
BLACKROCK, INC.
Shares:135.67K
Value:$1.35M
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Shares:114.55K
Value:$1.14M
GEODE CAPITAL MANAGEMENT, LLC
Shares:68.1K
Value:$677.62K
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