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  "documentTitle": "Bunge Global SA (BG)",
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  "authorName": "Ben Axler",
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      "text": "Viterra’s website removed its historical consolidated financial information. However, a link to its 2022 financial statements can still be found which shows that actual revenue was $53.8bn which is 22% above the $44.2bn result in 2024. Even worse, Viterra disclosed that it effectively booked repurchase agreements as revenue and had to make a restatement.",
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      "text": "Viterra's website removed its historical consolidated financial information. However, a link to its 2022 financial statements can still be found which shows that actual revenue was $53.8bn which is 22% above the $44.2bn result in 2024. Even worse, Viterra disclosed that it effectively booked repurchase agreements as revenue and had to make a restatement.",
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      "text": "In 2022, it was identified that certain sale transactions with certain counterparties included the simultaneous execution of a corresponding contract to repurchase the same quantity of goods in the future for logistical purposes. In accordance with IFRS 15, such contracts should not be recorded as revenue from customers as such transactions do not relate to the selling of goods to the end customer. As a result, comparative amounts for revenue and cost of goods sold for 2021 have been similarly represented, with no impact on gross margin.",
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      "text": "Source: Viterra 2022 Consolidated Results, Pro forma financials and Spruce Point red emphasis.",
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