Vendas da Adama crescem 3,4% no 3º trimestre de 2018

Adama Agricultural Solutions revenues grew by 3.4% in the third quarter of 2018 and by 8.0% in the nine-month period in US dollar terms, compared to the corresponding periods last year. In constant currency terms, revenues grew by 10.7% in the quarter and by 9.2% in the nine-month period, compared to the corresponding periods last year. Excluding the 2017 European hedge impact, revenues increased by 9.4% to $2,957 million in the nine-month period, compared to the corresponding period last year.

This increase was driven by volume growth of 3.8% in the quarter and 5.7% in the nine-month period. Especially strong performance was recorded in Latin America, India, Middle East and Africa as well as in Asia-Pacific, which more than offset the tens of millions of sales missed due to the severe drought in Europe. In addition to the volume growth, improved demand conditions facilitated a stronger pricing environment, largely compensating for the softer currencies and allowing the passing on of some of the impact of the constrained supply and higher procurement costs.

Gross profit in the quarter was lower by 6.5% to $279 million (gross margin of 32.0%), while gross profit in the nine-month period increased by 1.1% to $972 million (gross margin of 33.3%), compared to the corresponding periods last year. Excluding the 2017 European hedge impact, gross profit increased by 5.1% to $1,011 million (gross margin of 34.2%) in the nine-month period, compared to the corresponding period last year.

The lower gross profit in the quarter reflects primarily the impact of the missed high-margin sales in Europe due to the drought in the region, particularly of fungicides, which hurt gross profit by tens of millions. Apart from the drought impact, strong volume growth and increased prices more than offset continued higher procurement costs of raw materials and intermediates and the softer currencies, most notably the Brazilian Real and the Indian Rupee.

Agropages, 31/10/2018

Fonte Imagem: Reprodução