公告日期：2019-08-22

ADAMA overcomes headwinds to conclude another quarter with billion-
dollar sales

Continues gaining share, crossing the $2 billion mark year-to-date

 Q2 Sales of $1,002 million, in line with last year in local currencies, lower by 2.1% in US
dollar terms

‒ Continued robust growth in Latin America and Asia-Pacific, together with contribution of
joiners, largely offsetting weather- and supply-related delays in North America, Europe and
India

‒ Continued price increases, averaging 3% across all regions

‒ Jingzhou old site gradually resuming operation, resulting in short supply of high -demand
products

‒ H1 sales of $2,008 million, exceeding last year’s in constant currencies, lower by 1.8% in
US dollar terms

‒ Cumulative 8% price increases across the portfolio since the beginning of 2018

‒ Lack of high-demand products due to Jingzhou old site disruption constraining H1 sales by
approximately $100 million

‒ Sales of formulated, branded products in China, other than those from the Jingzhou old site,
grew by more than 20% in both the quarter and the half-year

 Q2 Gross Profit of $327 million

‒ Gross margin of 32.6% vs. 33.4% last year

‒ H1 gross profit of $673 million, with gross margin of 33.5% vs. 33.9% last year

‒ Robust prices largely offset lower volume, higher procurement costs and softer currencies

‒ Jingzhou old site disruption constraining H1 gross profit by approximately $35 million

 Q2 EBITDA of $177 million

‒ EBITDA margin of 17.7%, 0.8 p.p. below last year

‒ H1 EBITDA of $365 million, with EBITDA margin of 18.2%, in line with H1 of last year

‒ Strong containment of operating expenses while recording idleness cost at Jingzhou old site
‒ Jingzhou old site disruption, including idleness cost, constraining H1 EBITDA by
approximately $50 million

 Q2 Net Income of $51 million

‒ Net income margin of 5.1%, 2.0 p.p. below last year

‒ H1 net incom……
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