10-KPeriod: FY2025

Bunge Global SA Annual Report, Year Ended Dec 31, 2025

Filed February 19, 2026For Securities:BG

Summary

Bunge Global SA's 2025 10-K filing reveals a year marked by significant transformation, primarily driven by the completion of the Viterra acquisition on July 2, 2025. This strategic move has substantially expanded the company's global footprint and diversified its agribusiness solutions offerings. While the integration of Viterra is ongoing and incurred significant costs, it is expected to be a primary driver of future growth and synergies. Financially, 2025 saw a decrease in Net Income Attributable to Bunge Shareholders to $816 million from $1,137 million in 2024, largely due to higher net interest expenses from increased debt levels related to the Viterra acquisition and lower Corporate and Other EBIT. However, Segment EBIT showed an increase, indicating underlying operational strength in core segments like Soybean Processing and Refining, partly bolstered by Viterra's contribution from the acquisition date. The company's balance sheet reflects higher debt levels and increased working capital, consistent with the integration of a major acquisition.

Financial Highlights

57 data points
Beta

Revenue

$70.33B

4.8% Gross Margin

Net Income

$816.00M

1.2% Net Margin

EPS (Diluted)

$4.91

Total Assets

$44.53B

Cash & Equivalents

$1.14B

Free Cash Flow

-$879.00M

Financial Statements
Beta
Revenue$70.33B
Cost of Revenue$66.92B
Gross Profit$3.41B
R&D Expenses$28.00M
SG&A Expenses$2.11B
Operating Income$819.00M
Interest Expense$628.00M
Net Income$816.00M
EPS (Basic)$4.95
EPS (Diluted)$4.91
Shares Outstanding (Basic)165.04M
Shares Outstanding (Diluted)166.47M

Key Highlights

  • 1Completion of the transformative acquisition of Viterra on July 2, 2025, significantly expanding global reach and capabilities.
  • 2Net income attributable to shareholders decreased to $816 million in 2025 from $1,137 million in 2024, primarily due to increased debt servicing costs and integration expenses related to the Viterra acquisition.
  • 3Segment EBIT increased, with notable growth in the Soybean Processing and Refining segment, suggesting resilience in core operations.
  • 4Total debt increased significantly to $14,051 million at year-end 2025 from $6,238 million in 2024, largely due to financing the Viterra acquisition.
  • 5Working capital increased to $9,264 million from $8,523 million, driven by higher inventories and receivables, reflecting the larger, integrated entity.
  • 6The company continues to repurchase shares under its share repurchase program, with approximately $249 million remaining authorization as of December 31, 2025.
  • 7Bunge remains committed to sustainability initiatives, with stated Science Based Targets for GHG emission reductions and ongoing efforts in regenerative agriculture and deforestation-free sourcing.

Frequently Asked Questions

The most significant event was the completion of the acquisition of Viterra on July 2, 2025. This strategic combination created a premier global agribusiness solutions company and is expected to drive future growth and synergies.

The Viterra acquisition had a dual impact. While it contributed to an increase in Segment EBIT from core operations and is expected to drive future profitability, it also led to higher net interest expenses due to increased debt and significant integration costs, which contributed to a decrease in overall Net Income Attributable to Bunge Shareholders for the year.

Bunge's total debt increased substantially to $14,051 million due to financing the Viterra acquisition. The company has a significant amount of unused committed borrowing capacity ($9,065 million) to manage liquidity. Management expects to fund future capital expenditures primarily through cash flows from operations and cash on hand.

Key risks include the successful integration of Viterra's operations, potential challenges in realizing anticipated benefits and cost savings, managing higher debt levels, adverse weather conditions, commodity price volatility, geopolitical events (such as the war in Ukraine), and cybersecurity threats. The company actively monitors and employs risk management strategies to mitigate these factors.