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AGI Announces Third Quarter 2021 Results Winnipeg , MB , November 10 , 2021 - Ag Growth International Inc. ( TSX : AFN ) ( “ AGI ” , the “ Company " , " we " or " our " ) today announced its financial results for the three and nine - months ended September 30 , 2021 . [ thousands of dollars except per share amounts ] Trade sales [ 1 ] [ 2 ] Adjusted EBITDA [ 1 ] [ 3 ] Adjusted EBITDA Margin % [ ¹ ] [ 3 ] Profit ( loss ) Diluted profit ( loss ) per share Adjusted profit [ ¹ ] Diluted adjusted profit per share [ 1 ] [ 4 ] 2021 313,859 46,298 15 % ( 73 ) AGIS ( 0.00 ) 19,784 1.02 Three - months Ended September 30 2020 Change Change % 11 % ( 11 % ) ( 17 % ) n / a n / a 282,450 51,769 18 % ( 12,261 ) ( 0.66 ) 32,276 1.62 31,409 ( 5,471 ) ( 3 % ) 12,188 0.66 ( 12,492 ) ( 0.60 ) ( 39 % ) ( 37 % ) [ 1 ] See " Non - IFRS Measures " . [ 2 ] See " OPERATING RESULTS - Trade Sales " in our Management Discussion and Analysis for the period ended September 30 , 2021 ( ' MD & A ' ) . [ 3 ] See " OPERATING RESULTS - EBITDA and Adjusted EBITDA " in our MD & A . [ 4 ] See " Diluted profit ( loss ) per share and diluted adjusted profit per share " . Strong demand for AGI's products across most regions resulted in consolidated trade sales increasing 11 % year - over - year ( ' YOY ' ) for the three - months ended September 30 , 2021. As anticipated , the rise in input costs impacted adjusted EBITDA resulting in a 11 % decline YOY for the three - months ended September 30 , 2021 . Consolidated backlogs continued to remain strong and were up 99 % over September 30 , 2020 , with broad based strength across all segments and geographies . " Our team continued to execute very well amid challenging supply chain conditions , " noted Tim Close , President & CEO of AGI . " While supply chain dynamics led to margin compression , comprehensive supplier and market initiatives mitigated the full potential impact in the quarter . We are seeing cost increases ease and input availability improve , meaning margins will steadily improve into the fourth quarter and 2022. Our backlog has continued to grow into the fourth quarter and sits at record levels setting up for a very strong fourth quarter and 2022. " Farm segment trade sales grew 11 % while adjusted EBITDA declined 8 % YOY , respectively , for the three months ended September 30 , 2021 , as we continue to see strong demand for both portable and permanent handling equipment . Commercial segment trade sales and adjusted EBITDA grew 10 % and declined 19 % YOY , respectively , for the three - months ended September 30 , 2021 , with strength in the U.S. , Asia Pacific , and South America markets . The decrease in adjusted EBITDA margins was fully expected given the rapid rise in input costs and constricted supply chain for all inputs throughout 2021. Active and substantial price increases , contract modifications , and shorter quoting periods served to significantly mitigate the full extent of the supply chain issues . The demand for Farm segment equipment continues to be very robust as customers focus on securing critical products based on the increase in crop volumes and the potential for supply chain disruption . Farm backlog is up 202 % over prior year as of September 30 , 2021 , with considerable strength across all geographies including the U.S. as well as Brazil . The Commercial segment is also seeing strong demand as backlogs are up 76 % YOY with the Commercial platform and Food platform contributing 62 % and 153 % increases , respectively , signaling a strong outlook for Q4 2021 and Q1 2022 .