Adecoagro S A : 2024 Integrated Report
AGRO
Published on 05/21/2025 at 14:53
INTEGRATED REPORT
OUR ANNUAL SUSTAINABILITY DISCLOSURE
About This Report
We present Adecoagro’s fourth Integrated Report, which consolidates ESG information from all our businesses in Argentina, Brazil, and Uruguay for the period from January 1 to December 31, 2024.
The Board of Directors, as the highest governing body, is responsible for reviewing and approving the information presented, as well as the material issues that reflect our impact on the economy, the planet, and people. Prior to its publication, this report is submitted to the Board of Directors for validation.
At the end of this document, we include the Independent Public Accountants’ Limited Assurance Report on the 2024 Integrated Report.
This report, along with those from previous years,
is available at: https://www.sustainability.adecoagro.com/en/reports/
For more details on the company’s financial performance,
please visit: https://www.ir.adecoagro.com/
GRI 2-1, 2-2, 2-3, 2-14
From our fields to your table: Our vertically integrated business enables us to offer premium, fully traceable rice.
Index
01
Message of the CEO
02
Overview
2024 Key Company Takeaways Sustainability Snapshot
Our Targets: Current Status Our Path So Far
2024 Awards
Achieved Certifications
Financial and Operational Performance 2024 Financial Results
Company Profile and Prospects
03
About Us
Business Model Our Operations Our Businesses
Our Products and Markets Our Product Family Competitive Strengths Our Policies
04
Our Sustainable DNA
Sustainability at the Core of our Business
International Guidelines Materiality Matrix
Value creation Model
Contribution to the UN Agenda 2030 Competitive Strengths
05
Soil & Water
Highlights
Our Commitment to Environmental Care Regenerative Agriculture
Water Resources and Effluent
Management
Biodiversity and Ecological Impact Management
Our Approach to Deforestation
06
Climate and Energy Transition
Highlights
GHG Emissions and Climate Change Our Low-Carbon Intensity Production Energy Transition Strategy
Driving Green Energy Growth Waste Management and Packaging
07
Innovation
Innovative Mindset
Research & Development Projects Collaborative Network
Food Safety & Quality
Our Approach to Food Loss
08
Our People
Powered by People Diversity and Inclusion
Talent Attraction and Local Employment
Training and Development Performance Assessment Health & Safety at Work People’s Health and Wellbeing
09
Our Communities
Community Program Education
Nutrition
Local Development Violence Prevention Strategic Partnerships
Supplier and Customer Relations
10
Governance
Board of Directors
Board of Directors Committees Core Pillars of our Governance Executive Officers
Ethics, Transparency and Integrity Stakeholders and Transparency Trends and Factors we Analyze Enterprise Risk Assessment
CEO
Message
2024 Integrated Report
DNA
01
Overview
About Us Our Sustainable
Soil & Water
Climate & Energy
Innovation Our
Our Communities
Governance Annex
Message from the CEO
I am pleased to share Adecoagro’s 2024 Integrated Report, which provides an overview of how we continue to generate long-term value through
strengthening the profitability and sustainability link of
our model.
Despite a challenging year marked by price volatility across several of our products and adverse weather conditions in some regions, we delivered solid results in 2024. These outcomes reflect the strength of our long-term strategy: being the lowest-cost producer across all our segments by leveraging the natural advantages of the regions where we operate and maintaining our focus on efficiency and disciplined
GRI 2-22, 3-3
investments. In 2024, we achieved an Adjusted EBITDA of $444 million and generated $161 million in Adjusted Free Cash Flow from Operations (NCFO). We returned
$102 million to our shareholders through dividends and share repurchases—representing a 9.4% distribution yield. At the same time, we maintained a strong financial position with a leverage ratio of
1.2x Net Debt/EBITDA, and invested $104 million in high-return expansion projects that strengthen our sustainable and innovative footprint.
At our core, we develop sustainable models for food and renewable energy production in the interior of the countries where we operate. We believe that managing resources responsibly is not only the right thing to do—it is the best way to continue delivering long-term returns and generating value for our stakeholders. These models have the potential to fix carbon, conserve water, and deliver real benefits to people, the planet and the company.
Our work is guided by policies and programs, and
is verified through certifications that ensure our practices meet the highest standards of environmental and social responsibility. We believe we are delivering the most sustainable products possible to meet the world’s growing demand for food and renewable energy.
In 2024, led by our ESG Committee, we enhanced our sustainability roadmap, particularly in reducing
carbon intensity across all operations - reinforcing our commitment to the Paris Agreement and the United Nations 2030 Agenda. We identified opportunities that
are both environmentally and financially attractive
to improve our footprint. Among the key initiatives: replacing diesel with biomethane in Brazil; increasing the use of biological inputs and precision agriculture; and expanding renewable energy production through biodigesters in our dairy operations. Furthermore,
we expect to continue increasing in an efficient way the volume of food we produce, through investments in our value chain as well as the implementation of innovative production techniques. These efforts will not only help us reach our decarbonization target but also improve energy security for local communities, while enhancing our financial performance.
Making an efficient use of water remains a key priority—especially in our Rice business, which represents the majority of our water footprint. Throughout the past years we have invested in efficient irrigation technologies to minimize water use while also reducing energy consumption. In 2024, we continued to build on these efforts.
On the social front, the consolidation of our business units and the growth of our operations are driving demand for new talent across all regions. Over
the course of 2024, we carried out trainings in the communities where we operate, enabling us to expand our talent pool, with a focus on attracting and retaining more women across all levels of the company. Diverse teams bring new perspectives, drive innovation, and make us a better organization. In this line, we have set a gender diversity target to guide our progress.
People
As we look ahead, I remain confident in Adecoagro’s ability to continue growing responsibly—reducing our carbon footprint, advancing sustainable agriculture, contributing to the global energy transition, and working towards the development of our communities while improving our financial returns. This is made possible by all the people who make up our team,
and by the ongoing trust of our shareholders and communities.
Thank you for being part of our journey.
Mariano Bosch
Co-founder and CEO
4
2024 Integrated Report
02
CEO
Message
About Us
Our Sustainable DNA
Soil & Water
Climate & Energy
Innovation
Our People
Our Communities
Governance
Annex
Overview
5
We are a food and renewable energy production company recognized for our circular approach. Our strategy focuses on generating returns by prioritizing efficiency, strengthening sustainability and promoting diverse production across our value chain.
2024 Key Company Takeaways 06
Sustainability Snapshot 07
Our Targets: Current Status 08
Our Targets: Our Path So Far 09
2024 Awards 10
Achieved Certifications11
Financial and Operational Performance 12
2024 Financial Results 13
Company Profile and Prospects14
Disclaimer
Adecoagro SA published this content on May 21, 2025, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on May 21, 2025 at 18:52 UTC.