Israel's ICL Q4 2012 net profit down 43% on lower sales

13 March 2013 07:35  [Source: ICIS news]

SINGAPORE (ICIS)--ICL’s net income fell by 43% year on year to $209.5m (€161.3m) in the fourth quarter of last year as sales slipped on the back of a drop in potash shipments to India and China and lower average prices, the Israeli fertilizer and specialty chemicals producer said on Wednesday.

Its sales fell by 22% year on year to $1.34bn in the fourth quarter, while earnings before interest, tax, depreciation and amortisation (EBITDA) was down by 40% at $315.7m, the company said in a statement.

For the full year, the company’s net profit fell by 14% year on year to $1.30bn, while sales was down by 5.6% at $6.67bn. Its EBITDA fell by 13% to $1.91bn.

“The world economic environment is expected to continue impacting the sales of ICL industrial products and ICL performance products,” the company added.

($1 = €0.77)

By: Nurluqman Suratman

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