The FMC Corporation company, dedicated to the development of technologies for agriculture, released this week their annual financial results in which it reported that its revenues increased by 8 percent over the previous year to reach $ 4.6 billion. Excluding the impact of foreign exchange, year-over-year sales grew 11 percent organically. Also the company reported full-year earnings of $ 477 million.
In addition, revenues for its fourth quarter increased 9 percent to $ 1.2 billion, thanks its consolidation in the Latin American market and specifically in the Argentine one.
“Our financial outperformance reflects the strength of our portfolio and new technology launches”, said Pierre Brondeau, chairman and CEO of FMC.” FMC delivered continued strong revenue growth in the quarter driven by high demand in all regions despite adverse weather conditions in Europe and Asia”
FMC fourth quarter revenue growth was driven by an 11 percent contribution from volume, partially offset by a 2 percent currency headwind. Latin America sales grew 10 percent year over year, led by strong growth in Argentina following significant changes the company made to its go-to-market access in that country.
In North America, revenue increased 10 percent driven by volume growth and strength in Rynaxypyr and Cyazypyr insect controls. In Asia, revenue increased 9 percent with double-digit growth in India, China, Indonesia and Pakistan, driven by strong demand for the diamides and new product launches.