Dole plc today released its financial figures for the quarter and the year that ended on December 31, 2023.

Highlights from the year that ended on the 31st of December, 2023

• The Group’s strong results for the full year in the wake of a good year growth for the Group
• Revenues of $8.2 billion which is which is an rise by 2.8 percentage
• Net earnings at $155.7 million which is which is an growth by 39.3 percentage, with diluted earnings per share of $1.30
• Adjusted EBITDA1 in the amount of $385.1 million which is an improvement by $24.7 million which is 6.9 percent
• Adjusted Net income of $118.1 million, and Adjusted Diluted Profit of $1.24
• Free Cash Flows from Continuous Operation in the amount of $220.6 million
• Net Total Debt is $818.3 million, which is a decrease by $204.2 million

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Carl McCann, Executive Chairman of the Board, stated “2023 was a year that saw positive developments and growth for our Group. We’re very happy by our impressive full-year results. We achieved an adjusted EBITDA increase of 6.9 percent and cutting the amount of our debt to over 200 million.

This week, we made public that we had reached an agreement to transfer the 65% stake we own within Progressive Produce to Arable Capital Partners. The money raised of the sale will be utilized to improve our financial standing and help us focus more on our primary activities.

We believe that we are in a good position to produce another strong performance in 2024. At this point in our year, we’re goal is to achieve full-year adjusted EBITDA at a level that matches 2023 on a comparable basis.

The results we have achieved in 2023 are not possible without the dedication of our employees We would like to express our gratitude to everyone who has shown their commitment and contribution during the last year.”

Group Results Fourth Quarter

Revenue grew by 1.5 percent which is $29.7 million. This was primarily because of a positive effect on foreign currency translations to $33.4 million, as well as a net positive effect on acquisitions and divestitures that was $12.2 million, as well as the growth in revenue of the Diversified EMEA segment in a similar-to-like manner3. Inclusion of the effect on foreign currency translation, as well as acquisitions and divestitures on the basis of like-for-like, Group revenue declined by 0.8 percent which is $15.9 million. This was mainly driven by lower sales for the Diversified Americas segment.

Adjusted EBITDA diminished by 0.8 percent equivalent to $0.7 million. The decrease was driven by a drop in the Fresh Fruit segment against a excellent prior year comparison which was partially compensated by the strong performance of the Diversified EMEA segment. In a similar-to-like manner the Adjusted EBITDA declined by 2.0 percent, or $1.5 million.

Adjusted Net Profit decreased $2.4 million primarily due to decreases in Adjusted EBITDA as well as the higher interest cost. Adjusted Diluted EPS of $0.16 as compared to $0.18 in the year prior.

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Brian Bell

Ogilvy

Tel. : +353 87 2436 130

Email: brian.bell@ogilvy.com