Protinal C.A.

What it is

Protinal makes and sells animal feed and agricultural products in Venezuela, producing chickens, sausages, and frozen foods such as nuggets, wings, and chicken burgers, as well as broiler chickens and eggs. The core business runs from soybean meal and livestock feed all the way through to finished poultry products for the dining table, carried out together with its sister company Proagro C.A., which handles the farming and hatchery side.

Consumer brands include Del Corral, Protinal, and Protican. The company was founded in 1942 and is based in Valencia, Venezuela.

Who owns it

Protinal is a subsidiary of Ag Processing Inc (AGP), a US cooperative. AGP’s owners in turn are 172 local cooperatives representing more than 250,000 farmers throughout the Midwest, and five regional cooperatives in the US and Canada — meaning that, indirectly, American grain farmers are the ultimate owners of Venezuela’s leading chicken company.

AGP describes Protinal and Proagro together as “the leading integrated poultry company in Venezuela.” At the extraordinary shareholders’ meeting of 18 December 2025, more than 81.09% of all shares were present or represented — implying a very thin free float of less than 19% available to ordinary investors on the Caracas exchange. The precise ownership split between AGP and minority shareholders is not disclosed in available open sources.

Who runs it

Not published: the names of the CEO, CFO, and board chair do not appear in any open filing on the Bolsa de Valores de Caracas (bolsadecaracas.com), the securities regulator SUNAVAL (sunaval.gob.ve), or in the company’s exchange notices retrieved for this profile. Venezuelan securities law (Ley de Mercado de Valores, 2010) requires listed companies to disclose board composition and key officers in their prospectuses and periodic filings; those filings on BVC are accessible only to registered subscribers and were not available in open access at the time of writing.

The money, in plain words

Not published: Protinal’s revenue, net profit, total assets, and operating margins for the fiscal year ended 31 August 2024 (or any prior year) are not available in open access. The Bolsa de Valores de Caracas confirmed the existence of a financial filing for the period ended 28 February 2024 and of audited statements approved at the December 2025 extraordinary shareholders’ meeting, but the actual figures sit behind a paid subscriber login on bolsadecaracas.com.

SUNAVAL’s public daily bulletins carry only trading volumes and price data, not income statements.

The December 2025 extraordinary assembly approved financial statements for the fiscal year ending 31 August 2024, and voted a dividend of Bs. 27,097,006.87 to be paid from undistributed retained earnings — confirming the company was profitable in FY2024, but the dividend, at today’s exchange rate of 707.9193 VES per US dollar, is equivalent to roughly $38,300, a very small absolute sum that reflects either a token payout, a company that has restated its financials in a heavily depreciated currency, or both.

No earnings-per-share, return on equity, or price-to-earnings ratio can responsibly be calculated without the underlying profit figures.

What it is doing now

The most recent disclosed corporate action was the extraordinary shareholders’ meeting of 18 December 2025, at which the company formally adopted the financial statements for fiscal year ended 31 August 2024 — a gap of more than 15 months between period-end and approval that is unusual even by Venezuelan standards. The BVC’s live market data shows PTN trading at 550 VES per share as of 9 July 2026, a price that has risen sharply from 71.50 VES in early April 2026, though thin daily volumes — just 2,089 shares changing hands for a total of 1,236,455 VES (~$1,746) on 16 June 2026 — underscore how illiquid this stock is.

What to watch

• Financial disclosure. The FY2024 accounts have been approved but remain paywalled. If Protinal or BVC publishes them in open access, revenue and margins would be the first numbers to read.
• Currency and macro risk. Every bolívar figure is exposed to Venezuela’s chronic devaluation; a company that earns in bolívares while importing soybean inputs at dollar prices faces a structural cost squeeze.
• AGP’s strategic posture. AGP was formed in 1983 and has grown internationally; any decision by the US cooperative to exit or expand its Venezuelan position would be the single biggest event for PTN shareholders.
• Illiquidity premium. With fewer than 19% of shares in free float and daily turnover measured in hundreds of dollars, any meaningful buy or sell order moves the price sharply — a warning for any investor considering a position.

This is news, not investment advice.