Isagro sales fell 9% in Q1 2017

The first quarter, a period not historically representative of full-year results due to the well-known seasonal nature of the Group business. Isagro sales decreased 8.9% to 47.2 Euro million in the first quarter 2017, and EBITDA dropped by 4% to 7.4 million. Moreover, the comparison with the average values of the previous three years, more representative of the evolution of Isagro results in the mid-term, shows for the first three months of the current year an increase of 2.6% of sales and of 20% of EBITDA.

Outlook:

2017 results: 
• will depend, at revenues level, upon the normalization of market/climatic conditions, mainly in the Americas, and the realization of revenues from new agreements with Third Parties for the exploitation of Intellectual  Property;
• will reflect, at cost/capex level, the full year impact of 2016 newly hired resources, the continuation of the strengthening of the global commercial organization and the continuation of the investment programs for new products / molecules. 

Moreover, for the mid-term (2020/2021) Isagro confirms the target of around 200 Euro million revenues at a consolidated level, based on the implementation of its Strategic Guidelines:
1. discovery of new molecules by ourselves;
2. co-development of new molecules with Third Parties;
3. Licensing of our I.P. to widen commercial exploitation;
4. growth in the Biosolutions business;
5. expansion of our global commercial organization.