sraeli company Adama, which is under Chinese control: revenues grew by 21% and amounted to 1.4 billion dollars

The Israeli company Adama, which is under Chinese control and is considered one of the leading companies in the field of plant protection, which is engaged in the production and marketing of plant protection products, reports results for the second quarter of this year.
The company's revenues grew by 21% and amounted to 1.4 billion dollars as a result of a price increase of approximately 22% and a quantitative growth of approximately 3%, a 21% increase in revenues compared to the corresponding quarter last year where revenues amounted to NIS 1.2 billion. The gross profit in the second quarter amounted to a total of about 437 million dollars, which is a rate of 29.6% of the company's revenues, this compared to a gross profit of 365 million dollars in the corresponding quarter last year, which was a rate of 29.9% of the revenues at that time.
The company's adjusted EBITDA increased by 29% and amounted to 240 million dollars. Reflects an improvement in the EBITDA ratio of total revenues, from 15.2% in the second quarter of 2021 to approximately 16.2% in the second quarter of this year.
The company's operating profit amounted to $170 million in the second quarter of this year, compared to an operating profit of $125 million in the corresponding quarter last year, an increase of 36%. Bottom line, the company's net profit amounted to $76 million, compared to $63 million in the corresponding quarter last year, a jump of about 20%.
Ignacio Dominguez, president and CEO of Adama: "Adama recorded another quarter and six months of new records, with continued growth in sales that translated into an increase in the net profit line. The profitability of the plots continues to be good, against the background of the high prices of agricultural goods, despite a slight decrease in these prices towards the end of the quarter. It is this profitability that leads to demand for plant protection products."
"In a world with constant challenges, Adama continues to be committed to providing farmers with the solutions they want and need in order to feed the world, while continuing to bring to the market new products based on unique formulation technologies that reflect the added value we bring to the crop protection market."