ICL swings to profit in Q4, but records loss in 2016

Israel Chemicals Photo: Eyal Yizhar

Israel Chemicals CEO Asher Grinbaum: We're satisfied with the company's performance.

Israel Chemicals (TASE: ICL: NYSE: ICL) today published its financial statements for the fourth quarter of 2016 and the full year. The company reported $5.36 billion in revenue in 2016, down slightly, compared with $5.36 million in 2015, with a net loss of $122 million, $0.10 per share, compared with a $509 million net profit in 2015.

The company's revenue totaled $1.33 billion in the fourth quarter, compared with $1.42 billion in the corresponding quarter in 2015. Quarterly profit was down sharply from $96 million in the fourth quarter of 2015 to $32 million in the fourth quarter of 2016.

Cash flow from current activities shot up to $257 million in the fourth quarter, compared with $58 million in the fourth quarter of the previous year. Cash flow totaled $966 in 2016, compared with $573 million in 2015.

CEO Asher Grinbaum said upon publication of his company' results, "We're satisfied with the company's performance, taking the challenging market conditions into account."

Published by Globes [online], Israel Business News - www.globes-online.com - on February 15, 2017

© Copyright of Globes Publisher Itonut (1983) Ltd. 2017

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Israel Chemicals Photo: Eyal Yizhar
Israel Chemicals Photo: Eyal Yizhar
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