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FULL YEAR: BUNGE'S NET INCOME UP 33%
Source: Bunge news release

To read the entire report click here.

*Q4 GAAP EPS of $1.83 vs. $1.31 last year, $1.70 vs $1.49 on an adjusted basis

*Higher results driven by Food & Ingredients and Sugar & Bioenergy

*Combined Agri-Foods trailing four quarter ROIC of 8.6%; 1.6 points over WACC

*Operating cash flow of $1,904 million; adjusted funds from operations of $1,477 million

*Continue to expect strong earnings growth in 2017

Soren Schroder, Bunge's Chief Executive Officer, stated, "Bunge had a solid fourth quarter to end a challenging year. Higher Food & Ingredients and Sugar & Bioenergy results in 2016 reflect our team's hard work to drive structural improvements to increase the underlying competitiveness of our businesses. Agribusiness faced a very competitive global market environment, but finished strong. Our 2016 adjusted ROIC in our core Agribusiness and Food operations was 8.6%, 1.6 points over our cost of capital.

"Our efforts to drive long term, sustainable value are on track. In 2016 we delivered $135 million of cost and efficiency benefits, exceeding our target by $10 million. Adjusted Funds from Operations were approximately $1.5 billion, $61 million higher than last year. We returned $457 million to shareholders through dividends and share repurchases, and capex of $784 million was below our $850 million guidance and is tracking approximately $275 million below our 2014-2017 target, reflecting disciplined capital allocation.

"We expanded our value added Food & Ingredients' capabilities with bolt-on M&A in Europe and strengthened our winning Agribusiness footprint through joint ventures in Brazil, Vietnam and Canada. We expect our previously announced Northern European soy crush and Mexican corn
milling acquisitions to close, respectively, in the first and second quarters of 2017.

"We enter 2017 with confidence and expect strong growth in earnings. After disappointing crops in South America last year, the region is on track to produce record harvests thisseason, which aligns well with our footprint. In addition, global soybean processing margins, which were under pressure during most of 2016, are improving, and soft seed margins are better in both North America and Europe.

"We expect Food & Ingredients to increase its share of value added products and to grow volumes.

"In Sugar & Bioenergy, our sugar is hedged at higher prices and Brazilian ethanol prices should be supported by favorable supply and demand.

"Importantly, we will also continue to drive our performance improvement programs, expecting $100 million of incremental benefits in 2017."


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