Rotam first half result 2014

Date:11-05-2014

Rotam Global AgroSciences Limited is reporting its financial results for its first half fiscal year, starting from 1st of January 2014 to 30th of June 2014. Sales in this period reached $158.5 million, up by 33% compared to the corresponding period last year (an increase of $39.5 million).

Rotam AgroScieces sales results ($ million)
Ended Jun 2014	First Half 2014	First Half 2013	Change %
China	57.8	55.5	+4.1
NAFTA	18.3	8.3	+120.5
Latin America	59.7	39.3	+51.9
Europe	15.6	10.0	+56.0
Others	7.2	5.9	+22.0
Total	158.5	119.0	+33.2

Rotam China sales have been pulled up by the better dynamics of the Chinese market in spring 2014 compared with the difficult climatic conditions in spring 2013 as well as by the launch of an innovative insecticide mixture on rice. The company has also strengthened its field organisation in order to provide a more advanced level of marketing and technical support to a product portfolio that increasingly contains more unique agronomic solutions.

In NAFTA region, Rotam’s strong performance comes from the launch of its Topeka brand (containing Dicamba) where Rotam was able to satisfy its strategic customer base in conditions where market demand remained well above the overall supply position. The very good spring conditions for corn sowing increased the sales of Rotam portfolio in this crop, largely offsetting the slowdown in California where drought continues to impair the vegetable market.

Latin America showed strong performance across the 3 Regions. Despite the challenging economic environment, Argentina doubled its sales thanks to the launch of a new Azoxystrobin based fungicide mixture on field crops as well as repositioning of the herbicide Nicosulfuron outside its historical corn use. In Brazil, sales and prices of insecticides grew in response to threat of Helicoverpa infestation while the herbicides portfolio in sugar cane made some development progress despite the crisis in the sector. Latin America North contributed to the continual growth with new registrations strengthening its product portfolio and strong performance in Venezuela and Ecuador markets.