Israel’s ICL Q1 net profit rises 6% on higher fertilizer sales

13 May 2013 07:42  [Source: ICIS news]

SINGAPORE (ICIS)--Israel Chemicals Ltd (ICL) posted a 6% year-on-year increase in its net profit in the first quarter of 2013, to $305m (€235m), mainly because of higher fertilizer sales especially of potash to China, the fertilizer producer said on Monday.

Net sales in the first quarter showed a 9% year-on-year increase to $1.64bn while earnings before interest, tax, depreciation and amortisation (EBITDA) in the quarter was up 3% to $445m, the company said in a statement.

“The increase [in sales] reflected rising quantities sold of potash, phosphates and some of the company’s other products, countered partially by reductions in selling prices,” it added.

In the fertilizers segment sales for the first quarter of 2013 totalled $1.01bn, representing 57.8% of total revenues (before offsets of inter-segment sales), it said.

“This is a 20% increase compared with the first quarter of 2012, and up 42% compared with the fourth quarter of 2012, reflecting the contribution of renewed potash shipments to China together with increased volumes sold of phosphates and other products,” it added.

($1 = €0.77)

By: Tahir Ikram
+65 6780 4359

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