ADAMA Reports First Quarter 2021 Results
USA - English
Robust business growth yields increased profits in the first quarter
- Sales grew by 14% to a Q1 record-high of $1,109 million, driven by continued robust 15% volume growth
- Adjusted EBITDA higher by 2%, reaching $157 million
- Reported net income of $23 million (Q1 2020: loss of $2 million)
- Adjusted net income up 25% to $52 million
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BEIJING and TEL AVIV, Israel, April 28, 2021 /PRNewswire/ ADAMA Ltd. (the Company ) (SZSE 000553), today reported its financial results for the first quarter ended March 31, 2021.
Ignacio Dominguez, President and CEO of ADAMA, said, In the first quarter, we continued our strong growth to achieve another Q1 record high sales performance, with robust demand for our crop protection products supported by generally higher crop prices. Although our growth was somewhat mitigated by a softer pricing environment in many regions, and fu
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ADAMA Provides Net Income Estimate for Q1 2021
USA - English
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TEL AVIV, Israel and BEIJING, April 14, 2021 /PRNewswire/ ADAMA Ltd. (the Company ) (SZSE: 000553), today provided an estimate regarding its financial performance for the first quarter of 2021.
Sales
ADAMA is expecting to report record-high first quarter sales, with estimated top-line growth of more than 13% (6% in RMB terms), driven by continued robust volume growth in almost all key regions.
The Company is expecting to record strong growth in Asia Pacific, both in China and beyond. In China, ADAMA saw significant growth in the quarter both from its branded, formulated portfolio, which was driven by higher cereal demand due to an increase in field crop planted areas and an early start to the Q2 season, as well as from its sales of raw materials and intermediates. Sales in the country were further bolstered by the inclusion of the Company s recent acquisitio