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Isagro sales up 22% in Q3 2014
Nov. 17, 2014
Isagro’s sales posted a 22.3% increase to €29.4 million in the third quarter ended Sep 30, 2014. For the first nine months of 2014, the sales increased by 20.8% to €102.3 million,which have been characterized by the recovery of sales versus 2013 (a year which was negatively affected by the "carried-over” effect of 2012 drought) and by the start of the commercial cooperation with the partner Gowan in USA and in Italy; such elements more than offset a weakening of Group’s sales in Brazil and lower sales of Orthosulfamuron and Valiphenalate (the latter two molecules divested in 2013).
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Isagro sales results (€000)
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Q3 ended Sep. 30
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Q3 2014
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Q3 2013
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Change %
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Nine-month
2014
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Nine-month
2013
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Change %
|
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Sales
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29,369
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24,020
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+22.3
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102,303
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84,717
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+20.8
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EBITDA*
(loss)
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798
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(641)
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-
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7,698
|
905
|
751
|
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EBIT** (loss)
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(1,347)
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(2,975)
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-
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1,220
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(6,289)
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-
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* earnings before interest and tax depreciation and amortisation
** earnings before interest, tax
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Outlook
Isagro’s sales in the fourth quarter are expected to be lower compared to the same period of last year, due to reduced year-end purchases by the distribution systems in Brazil (due to consumption of existing stock and to a weakening of market conditions for Isagro’s products) and in Italy (to limit year-end stocks).
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