ICLrepoerts: Sales totaled $ 1.790 billion in the quarter, up 49%

ICL, the global leader in specialty minerals, today reported its third-quarter financial results ended September 30, 2021. Sales totaled $ 1.790 billion in the quarter, up 49% from $ 1.204 billion in the same quarter last year.
Operating profit was $ 321 million, an increase of over 220% compared to the same quarter last year, and an eight-year high, with adjusted operating profit of $ 315 million, an increase of about 200%. Net income of $ 225 million increased by 317% compared to the same quarter last year, while adjusted net income of $ 215 million increased by 271%. Adjusted EBITDA amounted to $ 421 million, an increase of approximately 86% compared to $ 226 million last year.
ICL's quarterly results were again due to the growth of the company's special products activities, which continued to realize the benefits of the increase in commodity prices. The strong performance was supported by an increase in demand for the company's products and high prices in most markets, despite rising raw material costs and transportation expenses that accompany challenges in the global supply chain. In light of another quarter of strong results and continuous improvements in market conditions, the company raises its forecasts in relation to EBITDA adjusted for 2021 to a range of $ 1,450-1,500 million.
ICC presented excellent results, including a fourth consecutive quarter of profit improvement. All four of the company's business divisions contributed to this, with each reporting double-digit growth in sales, operating profit and EBITDA, resulting from the growth of the specialty products basket. While the innovative solutions division for agriculture showed double-digit organic growth, recent acquisitions in Brazil helped balance the traditional seasonality in this activity and led to a 125% improvement in sales and a jump of over 300% in the division's EBITDA, compared to the quarter The equivalent last year, "said Raviv Zoller, president and CEO of ICL.