TEL AVIV, Israel, April 12, 2017 /PRNewswire/ --
ICL Essential Minerals to serve as ICL's Agro division and ICL Specialty Solutions as the company's Industrial division
ICL Specialty Fertilizers becomes a part of ICL's Essential Minerals division
Management continues its efforts to align ICL's organization to market focus
ICL (NYSE and TASE: ICL) today announced, as a follow-up to its Report on Form 20-F filed with the U.S. Securities and Exchange Commission on March 15, 2017, that its Specialty Fertilizers ("ICL SF") business line, which, until recently, operated under the company's Specialty Solutions division, has become a part of the company's Essential Minerals division.
ICL Specialty Fertilizers' placement in the Essential Minerals division is part of management's efforts to align its business and operations into two divisions - Essential Minerals, with a focus on Agro markets, and Specialty Solutions, which serves as the company's Industrial division. Operating ICL SF under Essential Minerals is expected to create synergies given the businesses and customer bases of ICL SF and the other business lines that are part of the Agro division. The move extends the division's portfolio to include a broad range of commodity, specialty and semi-specialty products, such as ICL Fertilizers' Polysulphate product, an environmentally-friendly fertilizer suitable for organic farming systems.
Attached are pro-forma financial statements of the company's Essential Minerals and Specialty Solutions divisions with ICL Specialty Fertilizers included in the Essential Minerals division for the years ended December 31, 2014, 2015 and 2016, as well as for the three month periods ended March 31, 2015, through December 31, 2016. These tables are also available in Excel format on the company's web site.
About ICL
ICL is a global manufacturer of products based on specialty minerals that fulfill humanity's essential needs primarily in three markets: agriculture, food and engineered materials. ICL shares are dual listed on the New York Stock Exchange and the Tel Aviv Stock Exchange (NYSE and TASE: ICL). The company employs approximately 13,000 people worldwide, and its sales in 2016 totaled US$5.4 billion. For more information, visit the company's website at www.icl-group.com.
Pro forma Financial Statements Follow
| Specialty |
Essential |
Other activities |
Eliminations |
Consolidated |
|
| $ millions |
|||||
| For the year ended December 31, 2016 |
|||||
| Sales to external parties |
2,493 |
2,811 |
59 |
- |
5,363 |
| Inter-divisions sales |
60 |
225 |
- |
(285) |
- |
| Total sales |
2,553 |
3,036 |
59 |
(285) |
5,363 |
| Operating income attributed to divisions |
534 |
398 |
5 |
937 |
|
| General and administrative expenses |
(321) |
||||
| Other unallocated expenses and intercompany eliminations |
(619) |
||||
| Operating loss |
(3) |
||||
| Specialty |
Essential |
Other activities |
Eliminations |
Consolidated |
|
| $ millions |
|||||
| For the year ended December 31, 2015 |
|||||
| Sales to external parties |
2,319 |
2,904 |
182 |
- |
5,405 |
| Inter-divisions sales |
76 |
211 |
3 |
(290) |
- |
| Total sales |
2,395 |
3,115 |
185 |
(290) |
5,405 |
| Operating income attributed to divisions |
451 |
885 |
16 |
1,352 |
|
| General and administrative expenses |
(350) |
||||
| Other unallocated expenses and intercompany eliminations |
(237) |
||||
| Operating profit |
765 |
| Specialty |
Essential |
Other activities |
Eliminations |
Consolidated |
|
| $ millions |
|||||
| For the year ended December 31, 2014 |
|||||
| Sales to external parties |
2,330 |
3,248 |
533 |
- |
6,111 |
| Inter-divisions sales |
77 |
220 |
8 |
(305) |
- |
| Total sales |
2,407 |
3,468 |
541 |
(305) |
6,111 |
| Operating income attributed to divisions |
422 |
802 |
62 |
1,286 |
|
| General and administrative expenses |
(306) |
||||
| Other unallocated expenses and intercompany eliminations |
(222) |
||||
| Operating profit |
758 |
||||
| Specialty |
Essential |
Other activities |
Eliminations |
Consolidated |
|
| $ millions |
|||||
| For the three-month period ended March 31, 2016 |
|||||
| Sales to external parties |
570 |
670 |
25 |
- |
1,265 |
| Inter-divisions sales |
14 |
53 |
- |
(67) |
- |
| Total sales |
584 |
723 |
25 |
(67) |
1,265 |
| Operating income attributed to divisions |
106 |
93 |
2 |
201 |
|
| General and administrative expenses |
(80) |
||||
| Other unallocated expenses and intercompany eliminations |
(14) |
||||
| Operating loss |
107 |
||||
| Specialty |
Essential |
Other activities |
Eliminations |
Consolidated |
|
| $ millions |
|||||
| For the three-month period ended June 30, 2016 |
|||||
| Sales to external parties |
655 |
709 |
13 |
- |
1,377 |
| Inter-divisions sales |
12 |
56 |
- |
(68) |
- |
| Total sales |
667 |
765 |
13 |
(68) |
1,377 |
| Operating income attributed to divisions |
136 |
113 |
(2) |
247 |
|
| General and administrative expenses |
(81) |
||||
| Other unallocated expenses and intercompany eliminations |
(17) |
||||
| Operating loss |
149 |
||||
| Specialty |
Essential |
Other activities |
Eliminations |
Consolidated |
|
| $ millions |
|||||
| For the three-month period ended September 30, 2016 |
|||||
| Sales to external parties |
682 |
691 |
10 |
- |
1,383 |
| Inter-divisions sales |
19 |
57 |
1 |
(77) |
- |
| Total sales |
701 |
748 |
11 |
(77) |
1,383 |
| Operating income attributed to divisions |
171 |
89 |
5 |
265 |
|
| General and administrative expenses |
(80) |
||||
| Other unallocated expenses and intercompany eliminations |
(516) |
||||
| Operating loss |
(331) |
||||
| Specialty |
Essential |
Other activities |
Eliminations |
Consolidated |
|
| $ millions |
|||||
| For the three-month period ended December 31, 2016 |
|||||
| Sales to external parties |
586 |
741 |
11 |
- |
1,338 |
| Inter-divisions sales |
15 |
59 |
(1) |
(73) |
- |
| Total sales |
601 |
800 |
10 |
(73) |
1,338 |
| Operating income attributed to divisions |
121 |
103 |
- |
224 |
|
| General and administrative expenses |
(80) |
||||
| Other unallocated expenses and intercompany eliminations |
(72) |
||||
| Operating loss |
72 |
| Specialty |
Essential |
Other activities |
Eliminations |
Consolidated |
|
| $ millions |
|||||
| For the three-month period ended March 31, 2015 |
|||||
| Sales to external parties |
560 |
775 |
68 |
- |
1,403 |
| Inter-divisions sales |
20 |
53 |
- |
(73) |
- |
| Total sales |
580 |
828 |
68 |
(73) |
1,403 |
| Operating income attributed to divisions |
105 |
249 |
3 |
357 |
|
| General and administrative expenses |
(76) |
||||
| Other unallocated expenses and intercompany eliminations |
34 |
||||
| Operating loss |
315 |
||||
| Specialty |
Essential |
Other activities |
Eliminations |
Consolidated |
|
| $ millions |
|||||
| For the three-month period ended June 30, 2015 |
|||||
| Sales to external parties |
534 |
608 |
54 |
- |
1,196 |
| Inter-divisions sales |
16 |
45 |
3 |
(64) |
- |
| Total sales |
550 |
653 |
57 |
(64) |
1,196 |
| Operating income attributed to divisions |
111 |
202 |
8 |
321 |
|
| General and administrative expenses |
(78) |
||||
| Other unallocated expenses and intercompany eliminations |
(136) |
||||
| Operating loss |
107 |
||||
| Specialty |
Essential |
Other activities |
Eliminations |
Consolidated |
|
| $ millions |
|||||
| For the three-month period ended September 30, 2015 |
|||||
| Sales to external parties |
649 |
699 |
31 |
- |
1,379 |
| Inter-divisions sales |
21 |
58 |
- |
(79) |
- |
| Total sales |
670 |
757 |
31 |
(79) |
1,379 |
| Operating income attributed to divisions |
128 |
201 |
5 |
334 |
|
| General and administrative expenses |
(83) |
||||
| Other unallocated expenses and intercompany eliminations |
(54) |
||||
| Operating loss |
197 |
||||
| Specialty |
Essential |
Other activities |
Eliminations |
Consolidated |
|
| $ millions |
|||||
| For the three-month period ended December 31, 2015 |
|||||
| Sales to external parties |
576 |
822 |
29 |
- |
1,427 |
| Inter-divisions sales |
19 |
55 |
- |
(74) |
- |
| Total sales |
595 |
877 |
29 |
(74) |
1,427 |
| Operating income attributed to divisions |
107 |
233 |
- |
340 |
|
| General and administrative expenses |
(113) |
||||
| Other unallocated expenses and intercompany eliminations |
(81) |
||||
| Operating loss |
146 |
||||
PRESS CONTACT
Maya Avishai
Head of Global External Communications
+972-3-684-4471
[email protected]
INVESTOR RELATIONS CONTACT
Dudi Musler
Investor Relations Manager
+972-3-684-4448
[email protected]
SOURCE ICL
Related Links
WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?
Newsrooms &
Influencers
Digital Media
Outlets
Journalists
Opted In
Share this article