Rlf Agtech Ltd FY23 Financial Report

Rlf Agtech Ltd (ASX: RLF) has reported its Preliminary Final Report, showcasing notable operational and carbon-related achievements. In terms of operations, the company achieved significant milestones including a 22% increase in cash receipts to AU$12.5 million and a 6% rise in revenues to AU$11.3 million compared to FY22. The gross profit margin was strengthened to 53%, up from 51% in FY22. Notably, the company expanded its China operations, overcoming COVID-related challenges, and increased customer-facing staff by 35%. In addition, RLF Agtech established a Vietnam Representative Office, expanded distribution in the South-East Asian region, and secured multi-year sales agreements with Jardine Distribution Inc. in the Philippines and Cong Ty Tnhh Kona Crop Science in Vietnam.

 On the environmental front, RLF Agtech launched its Carbon business, introducing the Accumulating Carbon in Soil System (ACSS) methodology for Australian Carbon Credit Unit (ACCU) generation in the Australian grain market. The company gained Clean Energy Regulator (CER) approval for its ACSS-based carbon project and enlisted Carbon West to manage CER soil carbon registration and compliance processes.

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