Tel Aviv, Israel and Beining, China
October 30, 2024

"Fight Forward" transformation plan already presenting benefits with the quality of business improving:

• Q3 2024 adjusted gross profit 14% above Q3 2023, representing a third consecutive quarter of improvement in adjusted gross margin. Profitability improvement achieved following strict management of inventory supporting lower costs, as well as the continued focus on differentiated products and de-focus from low margin products supporting positive product sales mix;
• Q3 2024 adjusted EBITDA more than doubled over Q3 2023, second consecutive quarter of improvement in EBITDA and EBITDA margin, with 9M 2024 adjusted EBITDA 6% above 9M 2023, reflecting continued OPEX management measures;
• Significant improvement in cash flow despite challenging market conditions; Operating cash flow of $402 million achieved in 9M 2024 in comparison to $63 million in 9M 2023; Positive free cash flow of $179 million achieved in 9M 2024 in comparison to a negative cash flow of $276 million in 9M 2023.

Q3 + 9M 2024 Press Release English 

Q3 + 9M 2024 Financial Presentation 

Q3 + 9M 2024 Press Release Hebrew

Website: http://www.adama.com/en/

Published: October 30, 2024