Adama records net profit of US$42 million in the 3rd quarter

A Adama, a global crop protection company, released global financial results for the third quarter of 2019. The figures show a total of US$42 million in net profit, an increase of 5% compared to the same period in the previous year. Ebitda (earnings before interest, taxes, depreciation and amortization) compared to the same period grew 8%, reaching the mark of US$ 144 million.

With strong business growth around the world, Latin America remains one of the company's strongest markets, achieving a 10,1% increase in sales, despite the challenging drought in the first half of the year, mainly in Brazil. According to the chairman of ADAMA's Board of Directors, Yang Xingqiang, the positive scenario was driven by the company's differentiated portfolio of solutions - especially those used in soybean cultivation - and the main products recently launched.

In Brazil, the company continues to grow, driven by its differentiated portfolio and launches such as CRONNOS, a triple-action fungicide for soybean rust, which performed strongly in its first year on the market. Furthermore, the company brought new insecticides to the market, including TRIVOR, a product capable of controlling the development of whiteflies at all stages of their life cycle.

The global executive also reinforces the expectation that ADAMA will continue to grow in all countries, including in Jingzhou, China, where the company resumed operations at the end of March. "The forecast is that by the end of 2020 the company will gradually be working with the best costs, environmental and safety standards in the country", concludes Yang.