Israel’s ICL Q3 net profit falls by 10% on lower sales

21 November 2012 07:26  [Source: ICIS news]

SINGAPORE (ICIS)--ICL’s third quarter net income fell by 10% year on year to $395m (€308m) on lower sales fuelled by increased raw materials and energy cost, the Israeli fertilizer and chemical producer said on Wednesday.

Its third-quarter earnings before interest, tax, depreciation and amortization (EBITDA) fell by 11% year on year to $561.7m, the company said.

For the first nine months, net income totaled $1.09bn compared with $1.14bn in the same period of 2011, ICL added.

Looking ahead, due to the seasonality of its products and general holiday-related slowdown of sales in December, the fourth quarter is generally characterized by lower profit margins, it added.

($1 = €0.78)

By: Surinder Malhi
+65 6780 4327

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