FMC agchem sales up 22% in 2013

Date:02-20-2014

FMC's agrochemical sales recorded a 37.6% increase to $677.7 million in the fourth quarter ended Dec 31, 2013.  Fourth-quarter segment earnings registered an increase of 24% to $136.8 million over the prior-year quarter. The growth was driven by continued market penetration in Brazilian soybean applications, new product introductions and strong demand due to increased cotton acreage.  In addition, early season demand in North America drove increased sales volumes for pre-emergent herbicides and insecticides. 

FMC’s Agricultural Products sales results ($ million)
Q4 ended Dec. 31	Q4 2013	Q4 2012	change%	Full Year 2013	Full Year 2012	change%
Sales	677.7	492.4	+37.6	2,145.7	1,763.8	+21.7
Operating profit	136.8	110.3	+24.0	539.0	454.0	+18.7

For the full year of 2013, agrochemical sales boosted 21.7% to $2,145.7 million and operating profit reached $539.0 million with an increase of 18.7%.  FMC agrochemical business continues to grow at a pace faster than the market, while delivering operating margins of 25%.

Outlook

The company expects the above-market rate growth to continue into 2014, driven by new and recently introduced products.  FMC anticipates volume growth globally as increased focus on key crops will be complemented by acreage expansion in Latin America. 

Additionally, increasing demand for resistance management products in North America and continued focus on delivering innovative solutions globally will drive volume gains.  The company anticipates full-year segment earnings momentum to continue in 2014 with earnings up mid-teens percent.