Expected Strong Fourth Quarter Closes a Robust Year for Adama
ADAMA Ltd. has provided an estimate regarding its performance in the fourth quarter and full year 2019.
Sales
ADAMA is expecting to reach an all-time fourth quarter record of over $1 billion in sales, growing over 7% in USD terms and 9% in RMB terms, driving full year sales to touch $4 billion, another all-time record high for the company, overcoming the significant headwinds seen during the year.
In the fourth quarter, the expected revenue growth was driven by a combination of robust business growth alongside certain price increases, which more than offset the impact of missing sales of key products manufactured at the Jingzhou old site stemming from the site disruption there during the year, as well as currency headwinds. The company is expecting to report strong growth in Europe, where it saw an early start to the 2020 season, as well as in North America and Asia-Pacific. Noteworthy results are also seen in Brazil, led by a strong performance from CRONNOS, and across Latin America, where the company’s differentiated product offering continues to grow with the inclusion of ARMERO, ADAMA’s first self-produced Prothioconazole-based mixture recently launched in Paraguay, opening up a $1 billion market.
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