Adama Reports Growth in Second Quarter
Adama Agricultural Solutions reports that revenues were up at constant exchange rates despite challenging agriculture environment, with volume growth across all key geographies, for the first half of 2015.
In constant currency terms, revenues grew by 3.6 percent in the second quarter of 2015 and by 2 percent in the first half of the year, compared to Q2 2014 and H1 2014, respectively.
In constant currency terms, revenues in North America during the second quarter of 2015 increased by 2.9 percent compared to the corresponding quarter last year, reflecting primarily an increase in quantities sold. In USD terms, revenues in North America in the second quarter of 2015 increased to $178.6 million, compared to $175.5 million in the corresponding quarter last year, despite the depreciation of the Canadian dollar.
“Adama continues to achieve strong business performance in tough market conditions, as reflected by its volume-driven growth of revenues in local currencies. Extended low agricultural commodity prices, as well as difficult weather conditions in certain key geographies, continue to challenge farmers across the world,” says Yang Xingqiang, Chairman of Adama’s board of directors. “However, these results reflect the strength of Adama, based on its global commercial platform, increasingly advanced portfolio and fully integrated value chain.”
With one of the world’s most extensive and diversified off-patent product portfolios, Adama sells its products in more than 120 countries, with revenues of over $3.2 billion in 2014.