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ADAMA Financial Results Show Revenue Decline

by Sepehr Achard
21st March 2023
1 Comment
2 minutes read
3 months ago

ADAMA reported its financial results for the fourth quarter and the fiscal year 2022, showing an impact on revenue from price fluctuations, a currency devaluation from the Euro, and a wealth of other macro events that affected the company’s performance compared to previous periods.

ADAMA’s President and CEO, Ignacio Dominguez, reflects on the remarkable year of 2022, when the crop protection market experienced exceptional growth, reaching record sales and EBITDA. In 2022, crop commodity prices came down from their peak, while fertilizer and energy prices declined at a slower pace, leading to lower but still historically high farmer profitability. ADAMA introduced differentiated products to the market, optimizing its offering to farmers around the globe while maintaining simplicity in doing business. The CEO believes that in 2023, farmers will continue to invest in crop protection products that bring them incremental value.

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Syngenta Group Reports Strong Double-Digit Growth 22nd March 2023

[…] ADAMA, the Israeli crop protection company owned by Syngenta, saw sales grow 16% to $6.7bn in the full year 2022, driven by strong product demand, particularly in Brazil. Meanwhile, Syngenta Seeds recorded sales growth of 14% to $4.7bn in the full year 2022. Latin America saw the highest sales growth, increasing by 27% due to robust pricing and strong corn growth across the region, while Field crop sales in Europe, Africa, and the Middle East grew 12%, and North America sales grew by 13%. In addition, sales of Vegetable Seeds grew by 1%, with the launch of the award-winning IDEAL Melons being a notable highlight of the year. […]