Nutrichem expecting 2021 profit of RMB479 million, profitability of associated ALBAUGH increased significantly

Date:02-23-2022

Nutrichem recently released its 2021 annual performance report. During the reporting period, the company’s operating income is expected to be RMB7,367,439,349.58, an increase of 18.36% over last year, while net profit attributable to shareholders is expected to be RMB478,675,845.36, an increase of 47.15% over last year. 

Nutrichem said during the reporting period, its revenue continued to increase while it maintained stable operations, adding expenses were strictly controlled but investment returns increased significantly, contributing to a significant rise in net profit, even after the deductions of nonrecurring items attributable to shareholders.

During that period, the global pandemic has continued to cause concerns over food security. Market demand for agricultural products was strong, and the agrochemical industry boomed. Coupled with the implementation of the carbon peaking and carbon neutrality policy in China, production capacity decreased, which resulted in the short supply of some products and led to increased sales for the company both in terms of quantity and price. 

Despite these circumstances, the company can actively respond to changes to industry policies and overcome the difficulties of raw material price fluctuations and limited energy supply, therefore, effectively organizing production and product delivery, to generate sales and achieve substantial growth in its annual performance.

In addition, the company’s associate, the AMERICAN ALBAUGH, achieved a significant profit increase due to the strong demand for glyphosate and its rising price. The investment returns attributable to the company also increased significantly.