1 PRESS RELEASE – FINANCIAL YEAR 2021 ROTTERDAM (NL), 22 FEBRUARY 2022
Adjusted EPS increased by +93% to €2.10
ACOMO MORE THAN DOUBLES OPERATING RESULTS IN 2021
WITH STRONG PERFORMANCE IN ALL SEGMENTS AND
SUCCESSFUL INTEGRATION OF TRADIN ORGANIC. THE BOARD
PROPOSES DIVIDEND OF €0.60 PER SHARE.
ROTTERDAM (NL), 22 FEBRUARY 2022
Acomo (Amsterdam Commodities N.V.), the Euronext Amsterdam-listed natural, plant-based food products and ingredients
Group achieved very strong results with an EBITDA increase of +110% to €105 million for the fiscal year 2021. The Group, with
operating segments specialized in spices and nuts, edible seeds, organic ingredients, tea, and food ingredients, effectively
navigated supply chain disruptions, COVID-19 lockdowns, and cost inflation. Existing businesses, as well as the newly acquired
Tradin Organic, contributed to the growth of the Group. Sales increased by +77% to €1.3 billion, while overall margin of 13.6%
was in line with previous year. Adjusted Net Profit was €62.1 million, resulting in an adjusted Earnings Per Share of €2.10 which
represents an increase of +93% versus 2020.
The company resumes dividend payments and proposes to distribute a dividend for 2021 of €0.60 per share.
(in € millions) 2021 2020 Change vs 2020
Sales 1,254.4 707.4 +77%
EBITDA 104.8 49.9 +110%
Net Profit (excluding amortization charges) 62.1 27.0 +130%
Net Profit (reported) 54.0 27.0 +100%
EPS in € (excluding amortization charges) 2.10 1.09 +93%
EPS in € (reported) 1.82 1.09 +68%
Pending the finalization of the external audit, the financials 2021 shown above are unaudited.
The very strong financial results were realized due to the teams’ ability to consistently meet the needs of customers in the face of
numerous challenges, including continued COVID-related restrictions, supply chain disruptions, and logistics issues.
Tradin Organic, acquired on 30 December 2020, was successfully integrated into the Group in 2021, contributing to the financial
results for the first time.

2 PRESS RELEASE – FINANCIAL YEAR 2021 ROTTERDAM (NL), 22 FEBRUARY 2022
The unpredictability of supply chains and rising market price levels led to an increase in inventory volume and value, resulting in
increased working capital for the Group. The Board of Directors is very pleased and impressed with the dedication, drive for
solutions, and strong performance of individual entities within the Group during another unusual year.
In 2021, consolidated reported sales of the Group increased by +77% to €1,254.4 million (2020: €707.4 million). Reported gross
profit increased by +80% to €170.2 million (2020: €94.7 million). For the full year 2021, reported net profit reached €54.0 million,
an increase of +€27.0 million versus 2020 (€27.0 million, +100%).
Consolidated figures (in € millions) 2021 2020
Sales 1,254.4 707.4
Gross profit 170.2 94.7
EBITDA 104.8 49.9
EBITA 91.1 49.9
Operating income (EBIT) 80.2 39.8
Financial result (7.1) (2.9)
Corporate income tax (19.1) (9.9)
Net profit 54.0 27.0
Total Shareholders’ equity 364.3 288.3
Total equity 365.7 289.5
Total assets 866.8 704.4
Ratios
Solvency – total equity as % of total assets 42.2% 41.1%
Leverage ratio (net debt/EBITDA), (2020: proforma) 3.15 3.22
Earnings and equity per share (in €)
Earnings per share (excluding amortization charges) 2.10 1.09
Earnings per share 1.82 1.09
Equity per share as at 31 December 12.302 9.744
Pending the finalization of the external audit, the financials 2021 shown above are unaudited.
Interest expenses include costs for the term loan facility related to the acquisition of Tradin Organic in December 2020 (outstanding
amount as at 31 December 2021 of €124.4 million) as well as costs linked to the increase in financing needs as a result of business
growth and higher commodity prices in general.
The 2021 leverage ratio (net debt/EBITDA), calculated as the net debt as at 31 December 2021 divided by full year EBITDA, is 3.15.
The reported results include amortization charges (-€10.8 million in 2021) in relation to the Tradin Organic acquisition. Unrealized
foreign currency (FX) and commodity (CX) hedge results are also included in the P&L. These items impacted both gross profit and operating expenses

Unrealized FX hedge results (due to not applying hedge accounting) had a positive effect on reported gross profit of +€3.6 million
(-€2.5 million in 2020). The impact of unrealized FX hedge results on reported net profit was +€2.7 million (-€1.9 million in 2020).
(in € millions) 2021 2020
Reported Unrealized
FX/CX hedge
results
Acquisition
amortization
charges
Adjusted Reported Unrealized
FX hedge
results
Adjusted % change
adjusted
Gross profit 170.2 3.6 (6.2) 172.8 94.7 (2.5) 97.2 +78%
As % of sales 13.6% 13.8% 13.4% 13.7%
Operating
expenses (90.0) (4.6) (85.4) (54.9) (54.9)
EBIT 80.2 3.6 (10.8) 87.4 39.8 (2.5) 42.3 +107%
Net profit 54.0 2.7 (8.1) 59.4 27.0 (1.9) 28.9 +106%
Pending the finalization of the external audit, the financials 2021 shown above are unaudited.
Currency euro/US dollar
The euro/US dollar exchange rate was very volatile during the first months of the year. After June, the US dollar strengthened
against the euro, resulting in a year-end euro/US dollar exchange rate of 1.137 (1.230 in 2020). The average euro/US dollar
exchange rate in 2021 was 1.183 (2020: 1.142). The FX rate change contributed negatively to sales (-€21.3 million) and net profit (-
€1.3 million) compared to the previous year.
The 2021 year-end exchange rate of 1.137 reflects the stronger US dollar against the euro when compared to the 2020 year-end
rate of 1.230. As of 31 December 2021, this resulted in an increase in total assets (+€21.4 million).
‘Given the strong performance across all segments, the successful integration of Tradin Organic, and term loan repayments ahead
of schedule, we are very pleased to resume dividend payments’, said Chief Executive Officer Kathy Fortmann. ‘The excellent results
in these unprecedented times reflect the resilience of our business and the capabilities of our teams, which are truly impressive. The
availability of products was not without challenges, especially due to ongoing logistical disruptions. Yet at the same time, it has
been an opportunity to prove over and over again the peace of mind we are able to give our customers and suppliers by helping to
ensure the continuity of their business, with global sourcing and supply of natural food ingredients and products, and value-added
services throughout the supply chain.
Now with Tradin Organic as part the group, organic, plant-based products are a substantial part of our business, giving us an even
stronger portfolio to meet the increasing demand of our customers and consumers for healthy, plant-based ingredients and
products. see & read more on
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