Highlights:
- Own-produced volumes sold increased 33% during Q1 2018 to a record 2.2 million metric tons
- Volume growth driven by IFCo and the return to high capacity utilization at EBIC and Sorfert
- Revenues increased 57% to $745 million compared to Q1 2017, driven by the increase in volumes and higher realized selling prices
- EBITDA increased 95% to $252 million
- Adjusted EBITDA increased 44% to $235 million
- Net profit of $25 million compared to a net loss of $47 million in Q1 2017, adjusted net profit of $11 million compared to a net loss of $2 million in Q1 2017
- Free cash flow stood at $120 million, despite a $49 million increase in working capital as the spring application season in the US and Europe was delayed from the first into the second quarter due to cold and wet weather
A conference call for investors and analysts will be hosted on Friday 11th May 2018, at 3:00 PM CET (2:00 PM GMT, 09:00 AM ET), during which Nassef Sawiris, Chief Executive Officer, and Hassan Badrawi, Chief Financial Officer will review the Company’s Q1 2018 financial results and provide an update on the business.
Investors can access the call by dialing:
Standard International: +44 (0) 2071 928000
United Kingdom FreeCall: 0800 376 7922
Netherlands LocalCall: +31 (0) 20 7143 545
United States FreeCall: 1 (866) 966 1396
Conference ID: 5095237
A conference call replay will be available until 11th June 2018. The replay access numbers are:
Standard International: +44 (0) 1452 550 000
Netherlands: 08000 234 610
United States: 1 (866) 247 4222
Conference ID: 5095237
