Isagro sales flat in H1 2017

Isagro’s consolidated revenues of the first half of 2017, equal to 86.9 Euro million, are in line with those of the first six months of 2016, with higher sales in the United States which offset lower turnover in India and in Italy in the absence, in the first half of the current year, of initial revenues from Licensing & other Business Agreements with Third parties (equal to 1 Euro million in the first half of 2016). 

The consolidated EBITDA was equal to 11.9 Euro million, in progress of 3% (+ 0.4 Euro million) compared to H1 2016, as a result of the combined effect of:
- on one side, improved margins from sales which more than offset,
- on the other side, an increase of fixed costs and of the portion accrued to the Income Statement of the expensed research, innovation & development.

Perspectives for the current year:

The results of the second part of the year, will mostly depend upon:
1. the finalization by December 31st of new Licensing & other Business Agreements
2. the evolution of the climatic conditions particularly in South Europe.

Moreover, for the mid-term (2020) 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. development of proprietary molecules mainly in cooperation with Third Parties;
3. Licensing & other Business Agreements to widen the commercial exploitation of our products;
4. growth in the Biosolutions business;
5. expansion of our global commercial organization;
6. selective actions of growth through acquisitions.