Adama Agricultural Solutions Ltd. swung to a net loss in the third quarter, hurt by the sharp depreciation of the Brazilian real and downgrades in the country’s credit rating.
“These factors have led Adama to take proactive steps to reduce the negative effects of the environment in Brasil on the company, including a decision not to fulfill certain outstanding orders and thereby partially limit sales in the country, in so doing reducing its exposure to currency and credit risks,” the company said in a statement.
Además, Adama mencionó las difíciles condiciones generales en los mercados agrícolas en 2015, reflejadas por la significativa depreciación de todas las monedas frente al dólar estadounidense, así como por los bajos precios de las materias primas. Además, varios mercados han experimentado condiciones climáticas excepcionales en el tercer trimestre, como la sequía en Europa, Canadá y Sudáfrica y un comienzo tardío de la temporada de lluvias en India, que impactó la demanda en esas regiones.
Adama registró una pérdida de $4.6 millones en el período, en comparación con ingresos de $24 millones en el mismo período del año anterior. Los ingresos cayeron a $696.1 millones desde $761.5 millones un año antes.
Adama Chairman Yang Xingqiang said, “Our ability to grow our business, in both volume and constant currency terms, despite the difficult market conditions, demonstrates the resilience of our global and diversified business model and the determination of our people to continually deliver a strong performance despite the challenging times. The Company continues to invest in the future growth of the business, and remains well positioned to accelerate its growth trajectory once the market recovers.”
Chen Lichtenstein, President and CEO of Adama, commented, “Notwithstanding the tough currency conditions and subdued crop protection market, we have been able to increase our market share globally. Our preparedness and ability to respond quickly to a rapidly evolving environment saw us taking proactive steps to adjust our costs to the current situation. While remaining focused on addressing the dynamic global market environment, the building of our China sales force is currently in full swing as we intend to launch our direct sales in this significant market early in 2016.”
La compañía dijo que ahora está muy avanzada en el establecimiento de su propia fuerza de ventas sobre el terreno en China, with direct sales expected to commence in the 2016 season. Construction of its new state-of-the-art formulation and packaging plant in the city of Huai’an is proceeding and the facility is expected to come on stream next year.
Adama agregó que continúa trabajando con sus accionistas para avanzar en la contemplada fusión inversa de la empresa con Sanonda, que se anunció durante el tercer trimestre.
Fuente: Adama