Buy Or Sell Opportunity • Jun 01
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 7.4% to CN¥6.41. The fair value is estimated to be CN¥5.25, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 8.1% over the last 3 years. Meanwhile, the company became loss making. New Risk • May 06
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Chinese stocks, typically moving 8.2% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (1.6x net interest cover). Minor Risk Share price has been volatile over the past 3 months (8.2% average weekly change). Buy Or Sell Opportunity • May 05
Now 28% overvalued after recent price rise Over the last 90 days, the stock has risen 13% to CN¥6.82. The fair value is estimated to be CN¥5.32, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 8.1% over the last 3 years. Meanwhile, the company became loss making. Price Target Changed • May 04
Price target increased by 10.0% to CN¥7.92 Up from CN¥7.20, the current price target is provided by 1 analyst. New target price is 16% above last closing price of CN¥6.82. Stock is up 10% over the past year. The company is forecast to post earnings per share of CN¥0.27 next year compared to a net loss per share of CN¥0.45 last year. Reported Earnings • Apr 30
First quarter 2026 earnings released: EPS: CN¥0.24 (vs CN¥0.065 in 1Q 2025) First quarter 2026 results: EPS: CN¥0.24 (up from CN¥0.065 in 1Q 2025). Revenue: CN¥7.21b (flat on 1Q 2025). Net income: CN¥569.2m (up 277% from 1Q 2025). Profit margin: 7.9% (up from 2.1% in 1Q 2025). Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings. Announcement • Apr 29
Adama Ltd. Launches Marathon Herbicide in Australia ADAMA Ltd. announced the launch of Marathon, its first Pyrasulfotole-based herbicide. The product will be available to Australian cereal growers for the 2026 season, bringing advanced weed control powered by ADAMA's formulation technology and marking an important step toward a broader rollout of future Pyrasulfotole–based solutions for cereal crops globally in the coming years. Pyrasulfotole is widely recognized for its strong compatibility in tank mixes, helping growers expand their weed–control spectrum and manage mixed or difficult weed populations in a single pass. It also plays an important role in resistance management and is commonly used within Integrated Weed Management (IWM) programs to support long–term field performance. Marathon® delivers broadleaf weed control in wheat and barley and is powered by ADAMA's patented high–load formulation technology, incorporating Mefenpyr–diethyl as a built–in safener. This advanced formulation supports strong crop tolerance while ensuring weeds remain fully susceptible, delivering reliable performance and a robust crop–safety profile. ADAMA's proprietary formulation technology enables high–load EC systems that remain physically stable under both low– and high–temperature storage and handling conditions. This innovative formulation supports the commercialization of a high-load Pyrasulfotole product with a distinctive performance profile. For growers, this translates into easier handling and application, including lower application volumes, simplified mixing, and fewer containers and transport requirements – supporting both operational efficiency and more sustainable on–farm practices. The same technology platform will also support additional Pyrasulfotole–based products in other territories. The launch of Marathon® represents the first step in ADAMA's continued development of Pyrasulfotole–based solutions. Leveraging its global R&D capabilities and advanced formulation platforms, the company is laying the groundwork for future solutions to address evolving weed control and resistance challenges in cereal crops. Over the coming years, ADAMA plans to introduce additional formulations and mixtures tailored to regional agronomic needs in key cereal markets, including Australia, Canada, and the United States, further strengthening its global cereals offering. New Risk • Apr 06
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 1.6x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.6x net interest cover). Earnings have declined by 58% per year over the past 5 years. New Risk • Apr 01
New major risk - Revenue and earnings growth Earnings have declined by 58% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 58% per year over the past 5 years. Minor Risk High level of debt (77% net debt to equity). Announcement • Mar 31
ADAMA Ltd. to Report Q1, 2026 Results on Apr 30, 2026 ADAMA Ltd. announced that they will report Q1, 2026 results on Apr 30, 2026 Reported Earnings • Mar 30
Full year 2025 earnings: EPS and revenues miss analyst expectations Full year 2025 results: CN¥0.45 loss per share (improved from CN¥1.25 loss in FY 2024). Revenue: CN¥28.9b (down 1.8% from FY 2024). Net loss: CN¥1.05b (loss narrowed 64% from FY 2024). Revenue missed analyst estimates by 4.8%. Earnings per share (EPS) were also behind analyst expectations. Revenue is forecast to grow 9.0% p.a. on average during the next 2 years, compared to a 16% growth forecast for the Chemicals industry in China. Over the last 3 years on average, earnings per share has fallen by 45% per year but the company’s share price has only fallen by 11% per year, which means it has not declined as severely as earnings. New Risk • Mar 29
New major risk - Revenue and earnings growth Earnings have declined by 66% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.5x net interest cover). Earnings have declined by 66% per year over the past 5 years. Announcement • Mar 28
ADAMA Ltd., Annual General Meeting, Apr 20, 2026 ADAMA Ltd., Annual General Meeting, Apr 20, 2026, at 14:30 China Standard Time. Location: 6F, Building 7, Yard No. 10, Chaoyang Park South Road, Chaoyang District, Beijing China Announcement • Mar 10
Adama Ltd Launches Ateka Insecticide ADAMA announced the launch of Ateka insecticide, a high-load, fully systemic solution designed to help fruit and vegetable growers clean out tough sucking pests with speed and staying power. Powered by proprietary Ayalon Formulation Technology, Ateka enhances leaf penetration and plant uptake, delivering earlier population control and enhanced performance. Ateka contains the active ingredient Spirotetramat in a suspension concentrate formulation and is registered for use in a wide range of crops, including citrus, pome fruit, stone fruit, grapes, leafy greens and fruiting vegetables. It provides broad-spectrum control of key sucking pests including aphids, psyllids, mites, scales, thrips, leafminers, mealybugs and whiteflies. Unlike contact products that rely solely on coverage, Ateka is fully systemic, moving through both the xylem and phloem to reach new growth and roots. Once inside the plant, it disrupts lipid biosynthesis in immature insects, preventing successful molting and reducing egg viability in females. Because control occurs when pests feed on treated tissue, early or preventive applications deliver the most consistent results. Ateka's high-load formulation delivers a higher concentration of active ingredient per droplet, accelerating penetration and helping protect the active ingredient from rain and environmental loss. The result is faster uptake and improved control compared to competitors. Beyond performance, Ateka's concentrated formulation supports lower use rates and less handling compared to many alternatives. The product works best when tank mixed with a penetrating adjuvant to ensure optimal leaf uptake and systemic movement. With a flexible application window and best results when sprayed early, Ateka fits seamlessly into integrated pest management programs across perennial and annual specialty crops. Ateka delivers speed, systemic reach and season-long suppression in one streamlined solution. ADAMA may seek to make Ateka available in additional territories in the future. Announcement • Jan 29
ADAMA Ltd. Provides Earnings Guidance for the Full Year Ended December 31, 2025 ADAMA Ltd. provided earnings guidance for the full year ended December 31, 2025. For the year, the company expects net loss attributable to the shareholders of USD 172 million to USD 122 million; loss per share of USD 0.5290 to USD 0.3746 . For the full year of 2025, ADAMA is expecting to report a decline in revenues of approximately 1% to 4% in USD compared to the full year of 2024. The decline in Revenue was generally attributable to lower prices and the Company's decisions to optimize its portfolio and geographical presence and to pivot away from selling some basic chemical products, as well as significant declines in Turkey in Q1. Prices remained weak mainly due to low prices of active ingredients in light of overcapacity, as well as a high-interest-rate ?environment and low commodity prices, which put pressure on distributors and farmers. Announcement • Dec 31
ADAMA Ltd. to Report Fiscal Year 2025 Results on Mar 27, 2026 ADAMA Ltd. announced that they will report fiscal year 2025 results on Mar 27, 2026 Reported Earnings • Oct 30
Third quarter 2025 earnings released: CN¥0.061 loss per share (vs CN¥0.41 loss in 3Q 2024) Third quarter 2025 results: CN¥0.061 loss per share (improved from CN¥0.41 loss in 3Q 2024). Revenue: CN¥6.65b (flat on 3Q 2024). Net loss: CN¥341.0m (loss narrowed 64% from 3Q 2024). Revenue is forecast to grow 5.6% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Chemicals industry in China. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 60 percentage points per year, which is a significant difference in performance. Buy Or Sell Opportunity • Oct 28
Now 20% overvalued Over the last 90 days, the stock has fallen 12% to CN¥6.50. The fair value is estimated to be CN¥5.40, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 9.0% over the last 3 years. Meanwhile, the company became loss making. Buy Or Sell Opportunity • Oct 10
Now 22% overvalued Over the last 90 days, the stock has fallen 13% to CN¥6.55. The fair value is estimated to be CN¥5.35, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 9.0% over the last 3 years. Meanwhile, the company became loss making. Announcement • Sep 30
ADAMA Ltd. to Report Q3, 2025 Results on Oct 30, 2025 ADAMA Ltd. announced that they will report Q3, 2025 results on Oct 30, 2025 Buy Or Sell Opportunity • Sep 24
Now 21% overvalued Over the last 90 days, the stock has fallen 7.5% to CN¥6.51. The fair value is estimated to be CN¥5.39, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 9.0% over the last 3 years. Meanwhile, the company became loss making. Reported Earnings • Aug 27
Second quarter 2025 earnings released: CN¥0.076 loss per share (vs CN¥0.29 loss in 2Q 2024) Second quarter 2025 results: CN¥0.076 loss per share (improved from CN¥0.29 loss in 2Q 2024). Revenue: CN¥7.85b (up 6.1% from 2Q 2024). Net loss: CN¥231.4m (loss narrowed 65% from 2Q 2024). Revenue is forecast to grow 5.3% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Chemicals industry in China. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 71 percentage points per year, which is a significant difference in performance. Buy Or Sell Opportunity • Jul 15
Now 28% undervalued Over the last 90 days, the stock has risen 27% to CN¥6.92. The fair value is estimated to be CN¥9.57, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 7.4% over the last 3 years. Meanwhile, the company became loss making. Announcement • Jul 15
ADAMA Ltd. Provides Earnings Guidance for the First Half Ended June 30, 2025 ADAMA Ltd. provided earnings guidance for the first half ended June 30, 2025. For the period, the company expects Net loss attributable to shareholders of RMB 108 million - RMB 54 million. Loss per share of RMB 0.0464 - RMB 0.0232. This expectation is mainly due to higher operating profit and lower tax expenses despite an increase in financial expenses. Announcement • Jul 02
ADAMA Ltd. to Report First Half, 2025 Results on Aug 27, 2025 ADAMA Ltd. announced that they will report first half, 2025 results on Aug 27, 2025 Announcement • Jun 10
Adama Ltd Appoints Francisco López Aufranc as Executive Vice President Latin America ADAMA Ltd. announced the appointment of Francisco López Aufranc as Executive Vice President Latin America (EVP LATAM). In this role, López Aufranc will lead ADAMA's commercial activities across the region, working to deepen customer engagement and unlock new growth opportunities. López Aufranc brings over 20 years of experience in the agribusiness sector, with a strong track record in global and regional leadership roles across finance, operations and general management. He joined ADAMA from Syngenta, where he most recently served as Global Finance Head for the Seeds Field Crops business. Prior to that, he led Syngenta's Seeds LATAM South business and held various leadership positions across Latin America and North America, consistently delivering strong commercial growth and business results. Francisco holds an MSc in Finance from the University of London and a degree in Industrial Engineering from Universidad Austral in Argentina. He has also completed executive programs at INSEAD and the London School of Economics. Announcement • May 14
ADAMA Ltd. Receives Registration in USA ADAMA Ltd. announced that its new herbicide, Temper™? More, has received registration in the United States. Temper More delivers excellent burndown and long-lasting residual activity, helping to break the cycle of herbicide-resistant weeds in row crops. Powered by ADAMA's proprietary Sesgama®? Formulation Technology, the solution offers farmers a more effective tool to manage weed resistance. Herbicide resistance continues to challenge farmers across the U.S., making it increasingly difficult to control aggressive weeds. Glyphicide alone is no longer effective in many cases, often requiring multiple applications that increase cost, create logistical complexity, and raise the risk of crop damage and yield losses. Temper More is built with a powerful combination of S-Metolachlor and Glufosinate-ammonium--two active ingredients with different modes of action--making it a smarter, long-term solution for managing herbicide-resistant weeds. It targets a broad range of grass and broadleaf weeds that have developed resistance to glyphosate, PPO, and ALS-based herbicides - including pigweed, morningglory, and waterhemp. With dual modes of action, Temper More delivers broad-spectrum control and extended residual activity, giving crops like soybean, corn, and cotton a clean and competitive start. This early-season suppression supports better planning and fewer applications, helping growers save time and money. Temper More also helps preserve the long-term effectiveness of herbicide-tolerant systems, such as Dicamba and 2,4-D. Its flexible application window is especially valuable for glufosinate-resistant cropping systems, giving growers greater operational flexibility and reducing in-season stress. Price Target Changed • May 06
Price target increased by 19% to CN¥5.70 Up from CN¥4.80, the current price target is an average from 2 analysts. New target price is 11% below last closing price of CN¥6.38. Stock is down 3.0% over the past year. The company is forecast to post earnings per share of CN¥0.06 next year compared to a net loss per share of CN¥1.25 last year. Reported Earnings • Apr 30
First quarter 2025 earnings released: EPS: CN¥0.065 (vs CN¥0.098 loss in 1Q 2024) First quarter 2025 results: EPS: CN¥0.065 (up from CN¥0.098 loss in 1Q 2024). Revenue: CN¥7.17b (down 4.5% from 1Q 2024). Net income: CN¥151.0m (up CN¥379.0m from 1Q 2024). Profit margin: 2.1% (up from net loss in 1Q 2024). Revenue is forecast to grow 6.4% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Chemicals industry in China. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 85 percentage points per year, which is a significant difference in performance. Announcement • Apr 03
Adama Ltd. Announces Its Novel, In-Licenced Active Ingredient Feralla®? Has Been Approved in the European Union ADAMA Ltd. announced that its novel, in-licensed active ingredient Feralla has been approved in the European Union. At its March 2025 meeting, the Standing Committee on Plants, Animals, Food and Feed (SCoPAFF) unanimously voted to approve Feralla as a low-risk active substance. This approval marks a significant milestone on the path to launching Feralla-based end-use products in the EU. Molluscicide products based on Feralla will offer substantial benefits to farmers, providing a rapid stop-feeding effect and superior pellet durability compared to Ferric-Phosphate options. This leads to faster mollusc control, usually within three days of application, which effectively reduces feeding damage, ultimately boosting both crop yield and quality. Recent field trials have shown Feralla's exceptional efficacy, with crop damage reduced by 90% within the first three days. Powered by ADAMA's Desidro Technology, Feralla improves bait attractiveness and utilizes a lower concentration of active ingredient, supporting farmers in meeting their sustainability objectives. The proprietary Desidro®? technology features a multi-stage drying process at controlled humidity levels, ensuring the end-use product has superior anti-moulding properties. This process has also been shown to withstand high levels of weathering, prolonging efficacy in the field. With European farmers facing increasing challenges in balancing pest control and regulatory requirements, the approval of Feralla®? brings ADAMA closer to offering powerful mollusc control products that will help farmers manage pests sustainably while meeting regulatory standards and consumer expectations. The first Feralla®?-based product is expected to launch in the UK later this year, followed by rollouts in additional European countries. Announcement • Apr 01
ADAMA Ltd. Appoints Eric Dereudre as Chief Commercial Officer ADAMA Ltd. announced that Eric Dereudre has been appointed as the Chief Commercial Officer (CCO), effective from April 1, 2025. With 30 years of experience in the agricultural sector, Dereudre joins ADAMA from Corteva Agriscience, where he most recently served as Vice President of Government and Industry Affairs, spearheading policy advocacy and product defense across the globe. He also previously served as commercial Leader for the Western Europe region for both Seed and Crop Protection businesses. Dereudre began his career at Dow AgroSciences, advancing from sales and marketing roles across Europe and Africa to global leadership positions in the US. He played a pivotal role in the post-merger unification of Dow and DuPont, where he led the Western Europe commercial organization with responsibilities for both the seeds and crop protection businesses. He has been deeply involved with trade associations in the crop protection industry and served in several roles at CropLife International, most recently as Interim CEO and President. Dereudre holds a Master's degree in agronomy from L'Institut Agro Rennes-Angers in France, and a Master's in Business Administration from Northwood University in Michigan. Dereudre's appointment is a key milestone in ADAMA's evolution, reinforcing its ability to navigate an increasingly complex agricultural landscape by strengthening its leadership team. Announcement • Mar 31
ADAMA Ltd. to Report Q1, 2025 Results on Apr 29, 2025 ADAMA Ltd. announced that they will report Q1, 2025 results on Apr 29, 2025 New Risk • Mar 16
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 0.7x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. This is currently the only risk that has been identified for the company. Reported Earnings • Mar 14
Full year 2024 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2024 results: CN¥1.25 loss per share (further deteriorated from CN¥0.69 loss in FY 2023). Revenue: CN¥29.5b (down 10.0% from FY 2023). Net loss: CN¥2.90b (loss widened 81% from FY 2023). Revenue exceeded analyst estimates by 2.6%. Earnings per share (EPS) missed analyst estimates by 24%. Revenue is forecast to grow 7.6% p.a. on average during the next 2 years, compared to a 16% growth forecast for the Chemicals industry in China. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 99 percentage points per year, which is a significant difference in performance. Announcement • Mar 14
ADAMA Ltd., Annual General Meeting, Apr 07, 2025 ADAMA Ltd., Annual General Meeting, Apr 07, 2025, at 14:30 China Standard Time. Location: 6F, Building 7, Yard No. 10, Chaoyang Park South Road, Chaoyang District, Beijing China Announcement • Jan 22
ADAMA Ltd. Provides Preliminary Unaudited Earnings Guidance for the Full Year of 2024 ADAMA Ltd. provided preliminary unaudited earnings guidance for the full year of 2024. For the year, the company expects to report a decline in revenues of approximately 7% to 16% in USD 3,934 million to USD 4,348 million (RMB 28 billion to RMB 31 billion), compared to the full year of 2023. The lower revenues mainly reflect lower prices in 2024, due to just-in-time purchasing patterns of the channel in light of price volatility and a higher interest rate environment, despite improved channel inventory levels. Net loss attributable to shareholders to be between USD 470 million to USD 360 million (RMB 3,351 million to RMB 2,564 million) and loss per share to be between USD 0.2017 to USD 0.1545 (RMB 1.4384 to RMB 1.1006). Announcement • Dec 31
ADAMA Ltd. to Report Fiscal Year 2024 Results on Mar 14, 2025 ADAMA Ltd. announced that they will report fiscal year 2024 results on Mar 14, 2025 New Risk • Dec 31
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Chinese stocks, typically moving 11% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks High level of debt (73% net debt to equity). Share price has been volatile over the past 3 months (11% average weekly change). Announcement • Dec 18
Feralla®, a New Active Ingredient for Mollusc Control by ADAMA, Nears European Food Safety Authority Approval ADAMA Ltd. announced that The European Food Safety Authority (EFSA) has published their conclusion regarding the novel, in-licensed active ingredient Feralla® in the EU. The assessment identified no critical areas of concern, marking a key milestone on the path to regulatory approval of this active substance by the EU Commission. Feralla®-based molluscicide products will offer real value to farmers, delivering a rapid-stop-feeding effect and improved pellet integrity compared to existing Ferric-Phosphate molluscicide products. This results in faster mollusc control, within the first three days of application, significantly reducing feeding damage and improving crop yield and quality. Recent field trials showcased Feralla®'s very strong performance, demonstrating a faster stop-feeding effect with 90% reduction in crop damage within the first three days. Its unique and patented formulation, powered by ADAMA's Desidro® Technology, enhances pest palatability, while its low active ingredient concentration supports farmers achieving their sustainability goals. EU Commission approval is anticipated in 2025, and the first Feralla®-based product, expected to launch in the UK that same year, followed by rollouts in additional European countries. Announcement • Dec 05
ADAMA Ltd. Plans to Introduce Novel Fungicide Active Ingredient, Gilboa ADAMA Ltd. announced its plan to introduce a novel fungicidal Active Ingredient, Gilboa, targeting key cereal and oilseed rape diseases including Septoria, Ramularia, and Sclerotinia. The company has submitted this innovative molecule to the Fungicide Resistance Action Committee (FRAC), where it is expected to be assigned to a new mode of action group for cereals. This innovation will offer European farmers a valuable resistance management tool, enabling the use of Gilboa-based fungicides in conjunction with, or instead of, existing fungicides. In the past five years, EU farmers have lost access to 68 conventional pesticide active ingredients due to regulatory changes. Moreover, it has been some years since a new molecule targeting Septoria in wheat, Ramularia in barley, or Sclerotinia in oilseed rape has been introduced to market. Unlike existing solutions, many of which are based on SDHI and DMI's, Gilboa targets a different pathway. This new approach offers farmers an innovative way to tackle serious fungal diseases while enhancing crop quality. Gilboa was submitted for registration in 2023 and is expected to be approved in Great Britain in 2027 and the EU in 2029. Subsequent registrations are planned for additional territories. Major Estimate Revision • Nov 14
Consensus EPS estimates fall from profit to CN¥0.30 loss The consensus outlook for fiscal year 2024 has been updated. Forecast loss of -CN¥0.297 per share in 2024, versus previous forecasts of CN¥0.055 per share. Revenue forecast unchanged from CN¥29.9b at last update. Chemicals industry in China expected to see average net income growth of 53% next year. Consensus price target down from CN¥4.95 to CN¥4.65. Share price fell 7.3% to CN¥6.71 over the past week. Reported Earnings • Oct 31
Third quarter 2024 earnings released: CN¥0.41 loss per share (vs CN¥0.34 loss in 3Q 2023) Third quarter 2024 results: CN¥0.41 loss per share (further deteriorated from CN¥0.34 loss in 3Q 2023). Revenue: CN¥6.61b (down 11% from 3Q 2023). Net loss: CN¥943.2m (loss widened 18% from 3Q 2023). Revenue is forecast to grow 9.0% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Chemicals industry in China. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 106 percentage points per year, which is a significant difference in performance. Announcement • Sep 30
ADAMA Ltd. to Report Q3, 2024 Results on Oct 30, 2024 ADAMA Ltd. announced that they will report Q3, 2024 results on Oct 30, 2024 Board Change • Aug 01
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Ordinary Director Alexandra Brand was the last director to join the board, commencing their role in 2024. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Announcement • Jul 01
ADAMA Ltd. Appoints Brand Alexandra as Ordinary Director ADAMA Ltd. appointed Brand Alexandra as Ordinary Director, date of birth is March 29, 1971 Date of commencement of service is July 01, 2024 Education: Master's degree in Chemistry from Technische Universitat Darmstadt; PhD in Chemistry from Technische Universitat Darmstadt. Principal occupations in the past five years: EVP Sustainability & Corporate Affairs, Syngenta Group Co. Ltd., Since 2023; Regional Director EAME, Syngenta Crop Protection AG, 2020 - 2023; Since 2023, Director of Siegfried holding AG. Announcement • Jun 29
ADAMA Ltd. to Report First Half, 2024 Results on Aug 29, 2024 ADAMA Ltd. announced that they will report first half, 2024 results on Aug 29, 2024 Announcement • May 15
ADAMA Ltd. Appoints Tan Hengde and Liu Hongsheng as Non-Independent Directors ADAMA Ltd. at its EGM held on 13 May 2024 elected Tan Hengde and Liu Hongsheng as non-independent directors. Reported Earnings • Apr 26
First quarter 2024 earnings released: CN¥0.098 loss per share (vs CN¥0.036 profit in 1Q 2023) First quarter 2024 results: CN¥0.098 loss per share (down from CN¥0.036 profit in 1Q 2023). Revenue: CN¥7.51b (down 13% from 1Q 2023). Net loss: CN¥227.6m (down 373% from profit in 1Q 2023). Revenue is forecast to grow 5.9% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Chemicals industry in China. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 89 percentage points per year, which is a significant difference in performance. Announcement • Apr 23
ADAMA Launches New Cereal Fungicide Avastel for Superior Disease Control and Long-lasting Protection ADAMA Ltd. announced the launch of Avaste, a new broad-spectrum T2 fungicide for cereal growers across Europe, that delivers a new standard of efficacy, control, and long-lasting protection against a broad spectrum of diseasesAvastel combines two trusted Active Ingredients – a carboxamide (SDHI) with triazole (DMI) – for outstanding control of Septoria, Brown Rust, Yellow Rust, Net Blotch, and other diseases in various cereals. It's powered by ADAMA's unique Asorbita Formulation Technology for better uptake and faster migration within the leaf tissue, ensuring increased resistance to washout and excellent retention that mitigates weather uncertainty around spray times. With Avastel, European farmers who are under pressure to combat Septoria, Rust, and other key diseases can gain peace of mind. Avaste has powerful curative and long-term preventive effects against disease, resulting in a stronger flag leaf which is crucial for maximizing yields. In field trials, Avaste brought better protection against Septoria and increased yields, compared with competing products. Avastel is a broad label fungicide that is suitable for use in crops such as wheat, barley, rye, and triticale. It is part of ADAMA's new European cereal fungicide portfolio which began rolling out in 2023. Announcement • Apr 15
ADAMA Ltd. Launches Maganic® ADAMA Ltd. announced the launch of Maganic®, a new T3 fungicide for European cereal growers that protects wheat against all ear diseases resulting in healthy crops, higher yields, lower mycotoxin levels and high quality grain. Maganic® is powered by ADAMA's unique Asorbital® Formulation Technology, for improved uptake and excellent systemic activity. It ensures reliable efficacy against all major ear diseases including Fusarium spp, Septoria, and Rust. Mycotoxins are a serious threat to food safety and thus are heavily regulated. Grain that exceeds the maximum level set for contaminants in foodstuffs cannot be sold, and ear diseases could therefore have a significant impact on the livelihood of cereal farmers. Farmers who use Maganic® as part of an integrated approach can be assured that their crops are safe and of high quality, with field trials demonstrating a significant drop in Deoxynivalenol (DON) and other mycotoxin levels as well as significantly higher yields compared with untreated fields. Maganic® is a multi-crop fungicide that is also suitable for use in crops such as barley, OSR and sugar beet. It is part of ADAMA's comprehensive cereal fungicide portfolio, which tackles the most serious diseases impacting farmer yields at each stage of the crop's reproductive phase. The new portfolio was first launched in Europe in 2023, and launches will continue across the continent throughout 2024. Announcement • Apr 09
ADAMA Ltd Launches New Multi-Crop, Broad Spectrum Fungicide Maxentis® for Improved Disease Control and Increased Yield ADAMA Ltd. has announced the launch of Maxentis®, a new versatile fungicide that delivers reliable control over a broad range of diseases in wheat, barley, and oilseed rape, to increase yields and improve income. Maxentis® delivers dependable control of Septoria, Yellow Rust, and Brown Rust in wheat; Leaf Blotch, Net Blotch, and Rust in barley; and Sclerotinia and Alternaria in OSR, helping bring peace of mind to farmers while simplifying and reducing the expense of their spray programs. In high potential wheat areas Maxentis® can be used as a T1 application in a spray program with other fungicides, or as a standalone T1 or T2 broad spectrum product in lower-potential areas. The non-SDHI formulation makes it an excellent partner for spraying programs, allowing farmers the flexibility to use an SDHI combination at the critical flag leaf stage of the wheat. Two modes of action are combined to enhance the impact of Maxentis®. This means that fungal diseases are controlled across multiple growth stages of the disease, resulting in greater efficacy and healthier crops. Maxentis® improves yields, while the ability to control numerous diseases in multiple crops with a single product increases convenience, reduces complexity and lowers costs, resulting in increased income for farmers. Announcement • Apr 02
ADAMA Ltd. Launches New Cereal Fungicide Forapro® for Supercharged Disease Control and Higher Yields ADAMA Ltd. announced the European launch of Forapro®, its new T1 broad spectrum multi-crop cereal fungicide that delivers superior control over all major early season diseases in wheat. Forapro® offers the double boosting effect of two Active Ingredients together with ADAMA's unique Asorbital® Formulation Technology. It delivers powerful results for both wheat and barley and is effective against early season diseases such as Powdery Mildew, Septoria and Rust. Due to its unique formulation and dual active ingredients, Forapro® provides excellent control in T1 that keeps disease infestation levels in check until T2 spraying. The power of Prothioconazole together with Fenpropidin and boosted by Asorbital® Formulation Technology ensures increased leaf penetration, faster uptake, and outstanding migration, spreading the impact across the entire plant, while also preventing degradation from sunlight. Extensive trials have shown that Forapro® penetrates the leaf cuticle significantly faster compared to a tank mixture of the two ingredients. Forapro® is part of ADAMA's new European cereal fungicide portfolio. Launches will continue across the continent throughout 2024. Announcement • Mar 30
ADAMA Ltd. to Report Q1, 2024 Results on Apr 26, 2024 ADAMA Ltd. announced that they will report Q1, 2024 results on Apr 26, 2024 Reported Earnings • Mar 27
Full year 2023 earnings: EPS and revenues exceed analyst expectations Full year 2023 results: CN¥0.69 loss per share (down from CN¥0.26 profit in FY 2022). Revenue: CN¥32.8b (down 12% from FY 2022). Net loss: CN¥1.61b (down 364% from profit in FY 2022). Revenue exceeded analyst estimates by 2.5%. Earnings per share (EPS) also surpassed analyst estimates by 2.0%. Revenue is forecast to grow 9.6% p.a. on average during the next 2 years, compared to a 17% growth forecast for the Chemicals industry in China. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 69 percentage points per year, which is a significant difference in performance. Announcement • Feb 20
ADAMA Ltd. Expands Use of New Environmentally Friendly One-Liter Containers ADAMA Ltd. announced the expanded use of its newly designed one-liter containers, demonstrating its commitment to greater sustainability. These containers were developed to reduce environmental impact and improve farmer usability and have already been successfully launched in India. The new containers replace the old cylindrical shape with a rectangular one, leading to multiple sustainability benefits. They can be placed more densely on pallets and trucks, enabling 45% more product to be packed in the same space, reducing transportation needs and associated carbon emissions. This results in a 17.2% reduction in GHG emissions, eliminating the release of up to 340 metric tons of CO2e into the atmosphere annually. The amount of CO2e saved by the new packaging is comparable to a new car being driven 2.8 million km or the yearly absorption capacity of 27,000 trees. They also comprise 10% less plastic, saving plastic waste. Farmers also find the new design to be more convenient to use. The containers feature a texture of raised bumps for improved grip, a wider opening for easier access and pouring, and they are compatible with the European industry standard Closed Transfer System (CTS) to reduce the risk of contact with the product. The new shape takes up less storage space on the shelf and its flat sides make it easier to read the product name when packed tightly. Price Target Changed • Feb 19
Price target decreased by 20% to CN¥7.00 Down from CN¥8.80, the current price target is an average from 2 analysts. New target price is 8.4% above last closing price of CN¥6.46. Stock is down 32% over the past year. The company is forecast to post earnings per share of CN¥0.14 for next year compared to CN¥0.26 last year. Announcement • Feb 05
ADAMA Ltd. to Bring Innovation to European Molluscicide Segment with Novel Active Ingredient Feralla® ADAMA Ltd. announced its intent to introduce the novel in-licensed active ingredient Feralla® into the European molluscicide market, bringing innovation with real value to farmers. Feralla®-based molluscicide products stand out with superior rapid-stop feeding effect and prolonged pellet integrity compared to current Ferric-Phosphate products on the market. Field tests have shown that products using Feralla® speed up mollusc death during the first three days following application, resulting in a significant reduction in feeding damage during this time frame. Feralla®-based products offer increased palatability to pests due to the unique formulation and proprietary manufacturing process powered by ADAMA's Desidro® Technology. This increased palatability contributes to the superior rapid stop feeding effect versus ferric-phosphate products. In addition, the low concentration of active ingredient helps farmers reach their sustainability goals, while achieving increased mortality, and greatly decreased feeding severity. Regulatory approval of Feralla® is expected in Europe in 2024, with Feralla® based product launches to follow in the UK, France, Spain, Germany and other European countries. The Active Ingredient Feralla® has been registered in multiple countries outside Europe. Announcement • Jan 16
ADAMA Ltd. Launches Five New Products Across Europe ADAMA Ltd. has announced the launch of five new cereal fungicide products across Europe to tackle the most serious diseases impacting farmer yields at each stage of the crop's reproductive phase. Together, these products offer ADAMA's customers a comprehensive portfolio of innovative solutions designed to deliver excellent results in the field and address different application stages (T1, T2, and T3) and various value segments. With the launch of these new products ADAMA will have one of the most robust portfolios in the industry for cereal disease control in Europe. The five products are based on a leading DMI molecule, cementing them as the foundation for treatment of cereal diseases after the regulatory phase-out of other key active ingredients in the market. The company also introduced its novel and proprietary Asorbital®? Formulation Technology to enhance the activity of its products, delivering improved penetration, excellent systemic movement in the leaf tissue, improved and long-lasting disease control, and excellent rainfastness. ADAMA's European cereal fungicide portfolio includes: Soratel®?, a versatile and broad-spectrum solution powered by ADAMA's proprietary Asorbital®? formulation Technology, which can be used in various segments alone or in a mixture. Maxentis®?, is a broad-spectrum, multi-crop, convenient and easy to use fungicide with flexible timing that can easily be plugged into any wheat spray program as a T1 or T2 application. Forapro®?, is a broad thespectrum fungicide powered by Asorbital®? Formulated Technology that controls all the major T1 diseases in wheat such as Septoria, Rust and Powdery Mildew. Maganic®?, powered by Asorbital®®? Formulation Technology, is a T3 fungicide that protects wheat against all ear diseases including Fusarium spp. resulting in lower mycotoxin levels and higher quality grain. Avastel®?, is ADAMA's premium T2 broad-spectrum fungicide with both curative and preventative disease control, powered by Asorbital™? Formulation Technology delivering a new standard of efficacy and long-lasting protection. ADAMA began rolling out its new cereal fungicide portfolio in 2023 with the introduction of Soratel®? in the UK, and the launches will continue across the continent, UK, and Ireland throughout 2024. Announcement • Dec 30
ADAMA Ltd. to Report Fiscal Year 2023 Results on Mar 27, 2024 ADAMA Ltd. announced that they will report fiscal year 2023 results on Mar 27, 2024 Reported Earnings • Nov 01
Third quarter 2023 earnings released: CN¥0.34 loss per share (vs CN¥0.015 profit in 3Q 2022) Third quarter 2023 results: CN¥0.34 loss per share (down from CN¥0.015 profit in 3Q 2022). Revenue: CN¥7.41b (down 20% from 3Q 2022). Net loss: CN¥799.8m (down CN¥835.9m from profit in 3Q 2022). Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 19% growth forecast for the Chemicals industry in China. Over the last 3 years on average, earnings per share has fallen by 36% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings. Announcement • Oct 28
ADAMA Ltd. Expands Availability of Apresa® in South America, Highly Effective Herbicide for Soybean, Corn and Other Crops ADAMA Ltd. announced wider availability of Apresa®, a pre-emergent pre-mix herbicide that delivers broad spectrum weed control with up to 20% higher efficacy compared to tank mixed solutions. Containing two complementary modes of action at a high concentration, Apresa eliminates hard-to-control grass and broadleaf weeds while providing a strong residual effect for soybeans and other crops in a simple and safe application for pre-emergence uses. The product uses ADAMA's proprietary TOV oil dispersion formulation technology, which maximizes the potential of its dual active ingredients. After more than 200 trials in recent years in soybean, corn and other crops, Apresa was found to be highly effective against several key weeds including Amaranthus sp., Goosegrass, Sourgrass and many others. Its performance has been recognized by advisors, researchers, and farmers as an excellent tool for Weed Resistance Management (WRM) with a long-lasting effect, often season-long control. Since its highly successful launch in Brazil last year, followed by Argentina and Paraguay earlier this year, Apresa is expected to become one of the main pre-emergent herbicides for use in soybean fields in South American countries. Besides soybean, it can be used on corn, peanuts, sugarcane, specific vegetables and forestry. Price Target Changed • Oct 26
Price target decreased by 15% to CN¥8.80 Down from CN¥10.30, the current price target is an average from 2 analysts. New target price is 20% above last closing price of CN¥7.34. Stock is down 21% over the past year. The company is forecast to post earnings per share of CN¥0.21 for next year compared to CN¥0.26 last year. Announcement • Sep 06
ADAMA Ltd. Launches First Off-Patent CCTPR Based Offerings in India ADAMA Ltd. announced the launch of Cosayr and Lapidos in India, its first insecticides containing the active ingredient Chlorantraniliprole (CTPR), benefiting from its new in-house production. ADAMA India has launched Lapidos and Cosayr insecticides for paddy and sugar cane growers, offering effective defense against various pests, ensuring improved yields and crop quality. Lapidos is a GR formulation designed for broad application ensuring crop protection at the early growth stage. Cosayr is a foliar solution that combines stem borer and leaf folders that attack rice paddy crops which are responsible for major crop losses every year. Price Target Changed • Sep 05
Price target decreased by 8.8% to CN¥10.30 Down from CN¥11.29, the current price target is an average from 3 analysts. New target price is 29% above last closing price of CN¥7.99. Stock is down 27% over the past year. The company is forecast to post earnings per share of CN¥0.25 for next year compared to CN¥0.26 last year. Reported Earnings • Aug 31
Second quarter 2023 earnings released Second quarter 2023 results: Revenue: CN¥8.64b (down 12% from 2Q 2022). Net loss: CN¥325.4m (down 207% from profit in 2Q 2022). Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 19% growth forecast for the Chemicals industry in China. Over the last 3 years on average, earnings per share has increased by 56% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Announcement • Jul 15
ADAMA Ltd. Provides Earnings Guidance for the First Half Year of 2023 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. Announcement • Jun 01
ADAMA Ltd. Announces Implementation of Final Cash Dividend for 2022, Payable on 06 June 2023 ADAMA Ltd. announced implementation of final cash dividend (tax included) of CNY 0.27000000 per 10 A shares for 2022. Record date is 05 June 2023 with Ex-date on 06 June 2023 and Payment date on 06 June 2023. Net cash dividend per 10 shares after tax: CNY 0.24300000 (CNY 0.27000000 - CNY 0.02700000). Price Target Changed • Apr 04
Price target increased by 8.7% to CN¥11.29 Up from CN¥10.39, the current price target is an average from 3 analysts. New target price is 25% above last closing price of CN¥9.05. Stock is up 9.0% over the past year. The company is forecast to post earnings per share of CN¥0.37 for next year compared to CN¥0.26 last year. Major Estimate Revision • Mar 27
Consensus EPS estimates fall by 23%, revenue upgraded The consensus outlook for fiscal year 2023 has been updated. 2023 revenue forecast increased from CN¥38.9b to CN¥40.3b. EPS estimate fell from CN¥0.509 to CN¥0.39 per share. Net income forecast to grow 51% next year vs 41% growth forecast for Chemicals industry in China. Consensus price target of CN¥10.39 unchanged from last update. Share price rose 2.5% to CN¥10.40 over the past week. Reported Earnings • Mar 21
Full year 2022 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2022 results: EPS: CN¥0.26 (up from CN¥0.068 in FY 2021). Revenue: CN¥37.4b (up 20% from FY 2021). Net income: CN¥609.4m (up 287% from FY 2021). Profit margin: 1.6% (up from 0.5% in FY 2021). Revenue exceeded analyst estimates by 6.6%. Earnings per share (EPS) missed analyst estimates by 33%. Revenue is forecast to grow 5.9% p.a. on average during the next 2 years, compared to a 19% growth forecast for the Chemicals industry in China. Over the last 3 years on average, earnings per share has increased by 65% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Announcement • Jan 31
ADAMA Ltd. Provides Earnings Guidance for the Year 2022 ADAMA Ltd. provided earnings guidance for the year 2022. For the year 2022, the company expects to report a growth in sales of approximately 16% in USD terms (20% in RMB terms), compared to 2021. In the full year of 2022, the Company is expecting to report an increase in Reported Net Income, compared to 2021, following achieving higher Operating Profit and despite a significant increase in financial expenses in light of the high Israeli CPI, higher hedging costs on exchange rates and an increase in interest rates. Reported net income attributable to shareholders of RMB 418 million to RMB 625 million and RMB 0.1792 to RMB 0.2685 per share. Board Change • Nov 16
High number of new and inexperienced directors There are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. 2 experienced directors. 2 highly experienced directors. Chairman of Supervisory Board Chenggang Jiang is the most experienced director on the board, commencing their role in 2013. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Price Target Changed • Nov 04
Price target decreased to CN¥11.13 Down from CN¥12.05, the current price target is an average from 3 analysts. New target price is 24% above last closing price of CN¥9.00. Stock is up 17% over the past year. The company is forecast to post earnings per share of CN¥0.46 for next year compared to CN¥0.068 last year. Major Estimate Revision • Nov 03
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 revenue forecast increased from CN¥34.3b to CN¥36.3b. EPS estimate fell from CN¥0.53 to CN¥0.46 per share. Net income forecast to grow 29% next year vs 44% growth forecast for Chemicals industry in China. Consensus price target of CN¥12.05 unchanged from last update. Share price fell 5.3% to CN¥8.82 over the past week. Reported Earnings • Oct 27
Third quarter 2022 earnings released: EPS: CN¥0.015 (vs CN¥0.17 loss in 3Q 2021) Third quarter 2022 results: EPS: CN¥0.015 (up from CN¥0.17 loss in 3Q 2021). Revenue: CN¥9.28b (up 25% from 3Q 2021). Net income: CN¥36.0m (up CN¥407.0m from 3Q 2021). Profit margin: 0.4% (up from net loss in 3Q 2021). Revenue is forecast to grow 6.7% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Chemicals industry in China. Over the last 3 years on average, earnings per share has increased by 42% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Board Change • Aug 31
High number of new and inexperienced directors There are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. 2 experienced directors. 2 highly experienced directors. Chairman of Supervisory Board Chenggang Jiang is the most experienced director on the board, commencing their role in 2013. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Reported Earnings • Aug 30
Second quarter 2022 earnings released Second quarter 2022 results: Revenue: CN¥9.78b (up 24% from 2Q 2021). Net income: CN¥304.0m (up 39% from 2Q 2021). Profit margin: 3.1% (up from 2.8% in 2Q 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 2.3%, compared to a 39% growth forecast for the Chemicals industry in China. Major Estimate Revision • Jun 16
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 EPS estimate increased from CN¥0.36 to CN¥0.40. Revenue forecast steady at CN¥35.2b. Net income forecast to grow 134% next year vs 40% growth forecast for Chemicals industry in China. Consensus price target up from CN¥11.42 to CN¥12.05. Share price was steady at CN¥12.50 over the past week.