NetworkNewsBreaks – Eat Well Investment Group In
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Posted On: 09/22/2022 4:11:29 PM
NetworkNewsBreaks – Eat Well Investment Group Inc. (CSE: EWG) (OTC: EWGFF) Releases Company Update, 2022 Profitability Forecast
Eat Well Group (CSE: EWG) (OTC: EWGFF), a leading plant-based food ingredient and CPG investment company, is reporting on the current status of the business as well as forecasting a combined company profitability in FY2022 of $4 to $5 million, with positive adjusted EBITDA. The report and projected profitability is based on the performance of all three of EWGFF’s businesses — Belle Pulses Ltd., Amara Organic Foods and Sapientia Technology LLC — along with the company’s anticipated accelerated growth. In addition to the profitability forecast, highlights of the update include positive cashflow from Belle Pulses; expansion of Belle Pulses high-margin protein storage for strategic customer; Amara’s continued momentum, including expansion of club channel to 100 stores by the end of 2022 and more than 300 club stores anticipated in 2023; Sapientia’s expected growth, totaling a minimum of 700 outlets; and continued work on uplisting plans, with the company focusing on the Toronto Stock Exchange this year and eyeing a NASDAQ move afterward. “We have supported our investee companies in achieving significant revenue growth and record profitability across multiple levers of the value chain, from farm gate to retail development, helping drive increased EBITDA and peer leading margins,” said Eat Well Group CEO and director Marc Aneed in the press release. “We are excited to continue building what we believe to be one of the best-positioned global plant-based food and ingredient companies listed on a public exchange. With enabling profitable growth, Eat Well can stay focused on long-term sustainable performance.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
Eat Well Group (CSE: EWG) (OTC: EWGFF), a leading plant-based food ingredient and CPG investment company, is reporting on the current status of the business as well as forecasting a combined company profitability in FY2022 of $4 to $5 million, with positive adjusted EBITDA. The report and projected profitability is based on the performance of all three of EWGFF’s businesses — Belle Pulses Ltd., Amara Organic Foods and Sapientia Technology LLC — along with the company’s anticipated accelerated growth. In addition to the profitability forecast, highlights of the update include positive cashflow from Belle Pulses; expansion of Belle Pulses high-margin protein storage for strategic customer; Amara’s continued momentum, including expansion of club channel to 100 stores by the end of 2022 and more than 300 club stores anticipated in 2023; Sapientia’s expected growth, totaling a minimum of 700 outlets; and continued work on uplisting plans, with the company focusing on the Toronto Stock Exchange this year and eyeing a NASDAQ move afterward. “We have supported our investee companies in achieving significant revenue growth and record profitability across multiple levers of the value chain, from farm gate to retail development, helping drive increased EBITDA and peer leading margins,” said Eat Well Group CEO and director Marc Aneed in the press release. “We are excited to continue building what we believe to be one of the best-positioned global plant-based food and ingredient companies listed on a public exchange. With enabling profitable growth, Eat Well can stay focused on long-term sustainable performance.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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