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Adama reports second quarter 2023 results - Sales & profit impacted by channel destocking while the Company is exercising inventory management through selective procurement of high margin products
Beijing, China and Tel Aviv, Israel
August 30, 2023
Source
Second Quarter 2023 Highlights:
- Sales down 17% to $1,233 million (-12% in RMB terms; -15% in CER[1] terms), mainly reflecting 10% decrease in volume and 5% decrease in prices
- Adjusted EBITDA amounted to $112 million $240 million in Q2 2022
- Adjusted net loss of $41 million; Reported net loss of $46 million
First Half Year 2023 Highlights
- Sales down 14% to $2,492 million (-8% in RMB terms; -11% in CER terms), mainly reflecting 9% decrease in volume and 2% decrease in prices
- Adjusted EBITDA amounted to $277 million $441 million in H1 2022
- Adjusted net loss of $20 million; Reported net loss of $34 million
Q2 + H1 2023 Press Release English (Management discussion & Analysis) PDF Format (opens in new window)
Q2 + H1 2023 Financial Presentation PDF Format (opens in new window)
Q2 + H1 2023 Press Release Hebrew
[1] CER – Constant Exchange Rates
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Website: http://www.adama.com/en/ Published: August 30, 2023 |
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