安道麦B：2021年第三季度报告附件（英文版）

　 ADAMA Reports Results of Third Quarter and First Nine Months of 2021

　　 Strong Q3 and 9M sales growth driven by continued robust volume increase;

　　　　　　　　　 profits impacted by continued margin pressure

Third Quarter 2021 Highlights

　　Sales up 17% to a Q3 record-high of $1,147 million (RMB: +10%), driven by robust 14% volume

　　growth

　　Adjusted EBITDA lower by 11%, reaching $122 million (RMB: -17%)

　　Reported net income of -$57 million; Adjusted net income of -$30 million

First Nine Months 2021 Highlights

　　Sales up 16% to a 9M record-high of $3,476 million (RMB: +8%), with volumes up 14%

　　Adjusted EBITDA up 1%, reaching $464 million (RMB: -7%)

　　Reported net income of -$1 million; Adjusted net income of $85 million

BEIJING, CHINA and TEL AVIV, ISRAEL, October 27, 2021 � ADAMA Ltd. (the “Company”)

(SZSE 000553), today reported its financial results for the third quarter and nine-month period

ended September 30, 2021.

Ignacio Dominguez, President and CEO of ADAMA, said, “The third quarter was a challenging

one for the global crop protection industry, including our company. While our sales continue to grow

strongly, supported by continued high crop prices and robust farmer demand for our products, we

are facing significant challenges on the cost and supply side. Global logistics and supply lines

remain severely constrained, exacerbating the already stretched supply situation in many key

products, further driving up raw material and intermediate procurement costs. These market

imbalances continue to weigh on our profit margins, as the ever-competitive global market is proving

slow to pass on the increased costs through price rises. Despite the challenges, our company is

continuing to grow, raise prices, improve our portfolio and the quality of our business, and keep a

tight rein on expenses, as we navigate through this volatile and uncertain time.”

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Table 1. Financial Performance Summary

　　　　　　　　　　　　　　　　　　　　　　　　 As Reported　　　　　　　　　　 Adjustments　　　　　　　　　　　 Adjusted

　　　　　　　 USD (m)　　　　　　　　　 Q3　　　　　 Q3　　　　　　　　　　　　Q3　　　　　Q3　　　　　 Q3　　　　　 Q3

　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　% Change　　　　　　　　　　　　　　　　　　　　　　　　　　　 % Change

　　　　　　　　　　　　　　　　　　　　2021　　　　 2020　　　　　　　　　　　2021　　　　2020　　　　 2021　　　　 2020

Revenues　　　　　　　　　　　　　　　　1,147　　　　　 978　　　 +17%　　　　　 -　　　　　 -　　　　　　1,147　　　　 978　　　　+17%

Gross profit　　　　　　　　　　　　　　　287　　　　　 266　　　　+8%　　　　　27　　　　　14　　　　　　　313　　　　 281　　　　+12%

% of sales　　　　　　　　　　　　　　 25.0%　　　　27.2%　　　　　　　　　　　　　　　　　　　　　　　 27.3%　　　　28.7%

Operating income (EBIT)　　　　　　　　　　 26　　　　

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