ADAMA Ltd. provided earnings guidance for the first half year of 2023. For the first half year of 2023, the company expects to report a decline in sales of approximately 14% in USD terms (8% in RMB terms), compared to the first half year of 2022, mainly reflecting lower volumes, as well as the negative impact of exchange rates and prices. The lower sales reflect market dynamics of channel destocking in light of high interest rates and a "wait and see" approach, given the high inventory in the channel and declining active ingredient pricing.

Additionally, sales were also impacted by negative weather conditions in certain geographies. This is in comparison to first half of 2022, in which the Company achieved record sales reflecting high demand due to supply uncertainty in the market. Net loss attributable to shareholders (USD millions) is expected to be in the range of USD 41 million to USD 27 millions compared to the profit of USD 113 million in the first half of 2022.

Loss per share (USD) is expected to be in the range of USD 0.018 to USD 0.012 compared to the Earnings per share of USD 0.0487 in the first half of 2022.