ICL Revenue for the fourth quarter totaled $ 2.04 billion, up 55%

A global environment of high inflation and skyrocketing commodity prices are naturally in the hands of the Israeli ECIL. Accordingly, the sharp rise in potash prices in the last quarter of 2021 jumped the company’s profits in the period.
ICL, which is controlled by the Israel Corporation (45.62%), enjoyed quarterly demand from cities, which improved its profitability in each of the divisions - potash, industrial products, phosphates and various solutions for agriculture.
Revenue for the fourth quarter totaled $ 2.04 billion, up 55% from the same quarter last year. Operating profit jumped 232% to $ 461 million and net income jumped 335% to $ 283 million. Adjusted net income was $ 339 million - a 400% increase.
Potash sales jumped 84% in the reported quarter to $ 698 million, thanks to the sharp rise in the price of potash, 114%, to $ 487. The sharp rise in price helped make up for the fact that ECL sold less 186,000 tons of potash compared to the last quarter of 2020. Segmental operating profit in the potash field jumped 510% to $ 244 million.
In the phosphates sector, sectoral operating profit jumped 362% to $ 97 million; In the field of innovative solutions for agriculture, sectoral operating profit increased by 560% to $ 33 million. In the field of industrial products, there was a more moderate increase, of 39%, to $ 111 million.
ECL President and CEO Raviv Zoller noted that “All of our specialty products business delivered an all-time record for the fourth quarter and for the entire year. "We continued to enjoy our strategic focus on the long-term growth of the specialty goods business, with performance in this quarter also significantly supported by strong demand and higher prices in most markets, and continued increases in commodity prices."
ECL has benefited from rising prices in the entire chain of products for industry and agriculture. The price of wheat rose in the fourth quarter by 40.9%, corn by 35.4%, rice by 16.3% and soybeans by 8.9%.