Idan Ofer Dead Sea Works (Photo by Yossi Zamir Moshe Shai Flash 90)
Commodity prices made ICL (formerly ICL) last year. The company has managed in every parameter to significantly improve the results and it seems that as long as commodity prices are at a high level, ICL will break records from quarter to quarter.
The company’s reports show that in the fourth quarter of the year, the company’s sales totaled more than $ 2 billion, an increase of 55% compared to sales in the corresponding quarter. Operating profit amounted to $ 461 million, an increase of 232% compared to the corresponding quarter, and adjusted operating profit Amounted to about $ 458 million, an increase of 220%.
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Net income amounted to $ 283 million, an increase of 335% compared to the corresponding quarter last year, while adjusted net income of $ 339 million increased by 400%. Adjusted EBITDA amounted to approximately $ 575 million, an increase of 115% compared to $ 268 million last year.
If the results of the fourth quarter look nice, you should take a look at the results of the entire year. Sales in 2021 totaled about $ 7 billion, an increase of 38% compared to sales in 2020 which then amounted to about $ 5 billion. Annual operating profit was about $ 1.2 billion, an increase of 499% and adjusted annual operating profit was about $ 1.2 billion, an increase of 135% compared to the same period last year.
The annual net profit increased to $ 783 million, while the adjusted annual net profit amounted to about $ 824 million, an increase of about 219% compared to the profit last year. Adjusted EBITDA increased to $ 1.6 billion, an increase of 66% compared to $ 990 million last year, while the adjusted EBITDA rate of 23.6% increased by 400 basis points compared to 19.6% in 2020.
“The fourth quarter was a successful closing chord for 2021, with sales of over $ 2 billion and an all-time high in EBITDA adjusted for the fourth quarter of $ 575 million. .
“We continued to enjoy our strategic focus on the long-term growth of the specialty goods business, with performance this quarter also significantly supported by strong demand and higher prices in most markets, and continued increases in commodity prices. All four of the company’s business sectors contributed significantly, “I counted sales and EBITDA, and were reflected in another quarter of growth in profitability and net profit,” said Raviv Zoller, President and CEO of ICC.
In parallel with the publication of the company’s financial statements, it published its forecasts for the coming year which show that the adjusted EBITDA in 2022 is expected to be in the range of $ 1.85 billion to $ 2.05 billion, of which EBITDA of $ 875-925 million from the company’s specialty products business.
ICL will distribute a dividend of $ 169 million which is 13.18 cents per share.
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