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Hebei Lansheng Biotech Co., Ltd. ShangHai Yuelian Biotech Co., Ltd.

Chemtura AgroSolutions sales up 21% in Q2 2013qrcode

Aug. 6, 2013

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Aug. 6, 2013
Chemtura AgroSolutions’ net sales increased $23 million or 20.5% to $135 million in the second quarter ended Jun 30, 2013. The $23 million rise resulted from $21 million in higher sales volume and $3 million in higher selling prices partly offset by $1 million of unfavorable foreign currency translation. North America led the growth, seeing strong demand for Chemtura miticide products, followed by Latin America, the company said. . China also saw strong growth while Europe was at comparable levels to the second quarter of 2012 due to unseasonably wet conditions, Chemtura stated.

Chemtura AgroSolutions’ sales result ($million)
Q2 ended Jun. 30
Q2
2013
Q2
2012
% change
Six-month 2013
Six-month 2012
% change
Sales
135
112
+20.5
223
197
+13.2
Operating income
32
23
+39.1
45
33
+36.4
EBITDA
35
29
+20.7
51
41
+24.3

Second-quarter Operating income of second quarter rose $9 million or 39.1% to $32 million reflecting $8 million from higher sales volume and product mix changes, the higher selling prices and a $2 million decrease in other costs, offset in part by $2 million in higher SGA&R costs and $2 million in higher manufacturing costs.Operating income reflected the benefit of an increase in selling prices and higher volumes offset by higher manufacturing costs and slightly higher SGA&R costs. Earnings before interest, tax, depreciation and amortisation (EBITDA) rose by 20.7% to $35 million.

For the first six months of 2013, Chemtura AgroSolutions’ net sales increased by 13.2% to $223 million, and operating income were up by 36.4% to $45 million. Earnings before interest, tax, depreciation and amortisation (EBITDA) grew by 24.3% to $51 million.

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