Isagro sales up 6.2% in H1 2016

Isagro sales were up by 6.2% to 87.1 Euro million in the first half of 2016, with an EBITDA of 11.5 million and a net profit of 4.5 million.

The growth  was  the  result  of  higher  sales  of  Tetraconazole,  Biostimulants  and  Pyrethroids  which, together with proceeds from Licensing agreements for 1 Euro million (absent in the first half 2015), have more  than  offset  lower  sale  revenues  of  copper-based  products,  following  the  decrease  of  copper commodity prices (however, without negative effects on margins).

Outlook

With reference to the whole 2016, it is highlighted that:
•  the  first  half  2016  results  are  encouraging,  also  vis-à-vis  the  implementation  of  Isagro’s  Strategic  Guidelines;
•  the second half 2016 is expected to be negatively influenced by weaker sales in the important Brazilian market, with higher fixed cost versus 2015 for the development of commercial structure.

In any case, Isagro confirms that 2016 represents a year of consolidation of 2015 results.

For  the  medium  term  (2020),  Isagro  confirms  the  target  of  around  200  Euro  million  revenues  at  a consolidated level, based on the implementation of our Strategic Guidelines:

1.  discovery of new molecules alone;
2.  development  of  new  molecules  mostly  through  attribution  of  rights  to  a  “main  developer”  while retaining rights for Isagro on selected segments/markets;
3.  value extraction from our Intellectual Property and retained rights also through Licensing;
4.  growth in the Biosolutions business, also through acquisitions;
5.  opportunistic development of off-patented products;
6.  expansion of our global commercial organization.