Forafric Global PLC

Listed Company

AFRICIK 0001903870NasdaqNon-AcceleratedGrain Mill ProductsJ1FY ends Dec 31

Period

FY 2024

Revenue

$274.22M

Net Income

$-24.32M

Total Assets

$246.08M

Equity

$5.32M

Shares Out

26.90M

Op. Cash Flow

$23.47M

Business

Forafric Global PLC is an integrated agribusiness engaged in the purchase, storage, transport, processing and sale of agricultural commodities and commodity products. The company produces and sells wheat-based products including a variety of flours, semolina, pasta, couscous and related secondary processing goods under brands such as MayMouna and Tria. Its operations are organized across milling, secondary processing, trading, storage and logistics activities, including milling plants, storage facilities and a logistics platform. Forafric distributes products domestically in Morocco and exports to approximately 45 countries across Europe, Asia, Africa and the Middle East.

Summary from filing dated 2025-04-30

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	Dec 31, 2025 2025-12-31	Dec 31, 2024 2024-12-31	Dec 31, 2023 2023-12-31
Revenue	176	274	302
Cost of Revenue	158	247	273
Gross profit	18	27	29
Operating expenses:	—	—	—
Selling, General and Administrative Expense	22	35	27
Total operating expenses	22	35	27
Operating (loss) income from continuing operations	−4	−8	1
Other expense (income):	—	—	—
Interest income	52,000	31,000	37,000
Interest Expense	14	13	13
Change in fair value of derivatives and contingent consideration	−222,000	1	25,000
Foreign Exchange (gain) loss	2	−33,000	212,000
Gain on sale of subsidiary	7	—	—
Non-Operating Income (Expense)	900,000	3	—
Total other expense	−7	−14	−13
Loss before taxes from continuing operations	−11	−22	−12
Income Tax Expense	1	2	589,000
Loss from continuing operations	−12	−23	−13
Extraordinary Items	−2	33,000	−652,000
Extraordinary Items	38,000	55,000	−695,000
(Loss) income from discontinued operations	−2	−22,000	43,000
Net loss	−14	−23	−13
Net Income Attributable to Noncontrolling Interest	1	970,000	168,000
Net loss attributable to the Company	−15	−24	−13
Loss from continuing operations per ordinary shares outstanding, basic	−0.45	−0.87	−0.47
Loss from continuing operations per ordinary shares outstanding, diluted	−0.45	−0.87	−0.47
(Loss) profit from discontinued operations per ordinary shares outstanding, basic	−0.06	0	0
(Loss) profit from discontinued operations per ordinary shares outstanding, diluted	−0.06	0	0
Weighted Average Shares Outstanding	27	27	27
Weighted Average Shares Outstanding, Diluted	27	27	27
Other comprehensive loss net of tax:	—	—	—
Foreign currency translation adjustments	458,000	−1	−2
Total other comprehensive income (loss)	458,000	−1	−2
Comprehensive loss	−13	−24	−14
Net Income Attributable to Noncontrolling Interest	2	578,000	442,000
Comprehensive loss attributable to the Company	−15	−25	−15

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	Dec 31, 2025 2025-12-31	Dec 31, 2024 2024-12-31
ASSETS	—	—
Current assets:	—	—
Cash and Cash Equivalents	14	12
Accounts Receivable	14	18
Other Non-Operating Current Assets	4	7
Inventory	14	15
Other Non-Operating Current Assets	9	11
Assets Held for Sale	12	14
Total current assets	68	77
Property, Plant and Equipment	108	102
Right-of-use assets	16	16
Goodwill	47	43
Intangible Assets	5	4
Other Non-Operating Non-Current Assets	3	4
Total assets	247	246
LIABILITIES AND STOCKHOLDERS’ EQUITY	—	—
Current liabilities:	—	—
Short-Term Debt	50	52
Lines of credit – wheat inventories	81	88
Accounts Payable	41	35
Other Current Liabilities	24	23
Contract liabilities	2	2
Current Portion of Long-Term Debt	9	5
Other Non-Operating Current Liabilities	688,000	440,000
Liabilities held-for-sale, current	481,000	2
Total current liabilities	208	207
Long-Term Debt	18	13
Long-Term Debt	2	8
Deferred Tax Liabilities, Current	10	10
Other Non-Operating Non-Current Liabilities	3	3
Total liabilities	240	241
Commitments and contingencies (Note 18)	—	—
Preferred Stock	—	—
Total Stockholders' Equity	27,000	27,000
Additional Paid-In Capital	152	144
Retained Earnings	−155	−140
Accumulated Other Comprehensive Income	−6	−6
Noncontrolling Interest	15	7
Total Stockholders’ equity	7	5
Total liabilities and Stockholders’ equity	247	246

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	Dec 31, 2025 2025-12-31	Dec 31, 2024 2024-12-31	Dec 31, 2023 2023-12-31
Cash flows from operating activities:	—	—	—
Net loss	−14	−23	−13
Less: Income (loss) from discontinued operations, net of tax	−2	−22,000	43,000
Loss from continuing operations	−12	−23	−13
Adjustments to reconcile net loss from continuing operations to net cash provided by operating activities from continuing operations:	—	—	—
Depreciation Expense	5	4	4
Amortization of Intangibles	464,000	352,000	259,000
Net Cash from Operating Activities	1	1	1
Provision for Doubtful Accounts (CF)	696,000	895,000	87,000
Asset Impairment Charges	1	—	—
Restructuring Expense	—	5	—
Non-Operating Income (Expense)	222,000	−1	−25,000
Other Operating Expense	1,000	65,000	129,000
Share-based compensation	396,000	522,000	169,000
Income Tax Expense	−314,000	−581,000	−1
Gain on sale of subsidiary	7	—	—
Changes in operating assets and liabilities:	—	—	—
Accounts receivable	−4	−9	2
Other receivables	−3	−12	−27
Prepaid expenses and other current assets	−6	−8	−8
Inventories	−596,000	−10	−2
Other assets, noncurrent	43,000	−1	2
Accounts payable	4	−11	9
Net Cash from Operating Activities	−763,000	−695,000	−581,000
Change in Accrued Liabilities	−5	7	−310,000
Net cash provided by operating activities from continuing operations	961,000	22	33
Net Cash from Operating Activities	−605,000	1	36,000
Net cash provided by operating activities	356,000	23	33
Cash flows from investing activities:	—	—	—
Cash proceeds from sale of subsidiary, net of cash disposed	8	—	—
Acquisition of businesses and assets, net of cash acquired	—	—	37,000
Purchases of property, plant, and equipment	517,000	2	9
Proceeds from Sale of PP&E	—	7,000	47,000
Additions to intangible assets	451,000	283,000	319,000
Net cash provided by (used in) investing activities from continuing operations	7	−2	−10
Net Cash from Investing Activities	−43,000	−9,000	−43,000
Net cash provided by (used in) investing activities	7	−2	−10
Cash flows from financing activities:	—	—	—
Net Cash from Financing Activities	—	—	1,000
Net Cash from Financing Activities	10	—	—
Proceeds from Debt Issuance	568,000	6	—
Borrowings on working capital facilities, net	8	−7	2
Net Cash from Financing Activities	6	50	60
Repayments on lines of credit – Wheat inventories	12	86	78
Proceeds from Debt Issuance	—	862,000	4
Repayments on loans	3	9	5
Net cash used in financing activities from continuing operations	−7	−31	−21
Net Cash from Financing Activities	571,000	−2	213,000
Net cash used in financing activities	−6	−33	−21
Effect of Exchange Rate on Cash	565,000	−7,000	−3
Net increase (decrease) in cash and cash equivalents	2	−12	−806,000
Cash and cash equivalents, end of year	—	—	—
Cash and cash equivalents, end of year	—	—	—
Non-cash activities:	—	—	—
Extinguishment of related party loan in connection with transactions with an entity under common control	6	—	—
Debt assumed by purchaser in sale of subsidiary	962,000	—	—
Non-cash acquisition of non-controlling interest	—	—	1
Shares repurchased and retired	—	—	30,000
Supplemental cash flow disclosures:	—	—	—
Interest Expense	13	13	16
Income Tax Expense	1	2	2

Filings

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