ICL Q4 profit up 35%

Raviv Zoller / Photo: Natali Cohen Kadosh

Israel Chemicals revenue was $1.32 billion in the fourth quarter of 2020, up 19% from the corresponding quarter of 2019.

ICL (TASE: ICL: NYSE: ICL) (formerly Israel Chemicals) has reported strong fourth quarter results with net profit of $65 million, up 35% from the fourth quarter of 2019. Revenue in the fourth quarter of 2020 was $1.32 billion, up 19% from the fourth quarter of 2019. Adjusted EBITDA of $268 million in the fourth quarter of 2020 was up 30% from the corresponding quarter of 2019.

ICL said that during the fourth quarter the average potash realized price per tonne of $228 was 4% higher than in the preceding quarter but 17% lower year-over-year.

ICL president and CEO Raviv Zoller said, "To be certain, 2020 was a challenging year - for ICL, its employees, its customers and its communities - however, we are coming out of a tough year with a strong finish, and we believe we are well-positioned for 2021. Not only are commodity prices in our favor going into the new year, we also expect to continue seeing benefits from our innovative products and from the cost efficiencies and strategic initiatives we executed against in 2020."

ICL issued an adjusted EBITDA guidance range of $1.02 billion to $1.12 billion for the full year 2021.

Published by Globes, Israel business news - en.globes.co.il - on February 11, 2021

© Copyright of Globes Publisher Itonut (1983) Ltd. 2021

Raviv Zoller / Photo: Natali Cohen Kadosh
Raviv Zoller / Photo: Natali Cohen Kadosh
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