St. Louis, MO - February 10, 2021 - Bunge Limited (NYSE:BG) today reported fourth quarter and full-year 2020 results.
• Full-year GAAP EPS of $7.71 vs. $(9.34) in the prior year; $8.30 vs. $4.76 on an adjusted basis excluding certain gains and charges and mark-to-market timing differences
• Q4 GAAP EPS of $3.74 vs. $(0.48) in the prior year; $3.05 vs. $1.69 on an adjusted basis excluding certain gains and charges and mark-to-market timing differences
• Excellent execution throughout the value chains drove higher Q4 and full year results in Agribusiness and Edible Oils
• Full year adjusted funds from operations of ~$1.9 billion, up ~$800 million vs. 2019
• Favorable market environment continuing into 2021
Greg Heckman, Bunge’s Chief Executive Officer, commented, “Our performance in 2020 was exceptional reflecting the earnings strength of our platform. Our talented team and new operating model allowed us to capture the upside from market opportunities and deepen customer partnerships. We delivered these strong results while completing the portfolio actions we originally identified, sharpening our financial discipline, and, importantly, keeping the focus on protecting the safety of our team during these unprecedented times.
“Looking ahead, we expect the favorable market environment to continue into 2021, reflecting strong and growing demand, as well as tight supplies. We are excited about our momentum and the opportunities ahead of us,” Mr. Heckman continued. “I am extremely proud of our team across all the businesses as we execute our strategy and deliver value to all our stakeholders.”