ADAMA Reports Second Quarter & First Half 2026 Results
Resilient performance amid challenging market conditions
BEIJING, CHINA and TEL AVIV, ISRAEL, August 18, 2026 – ADAMA Ltd. (the “Company”) (SZSE
000553), today reported its financial results for the second quarter & first half year ended June 30,
2026.
Second Quarter 2026 Highlights:
Sales declined 3% (-7% in RMB) to $1,063 million
Adjusted gross profit declined 1% to $315 million, with an improvement in gross margin to
29.6% in Q2 2026 from 29.1% in Q2 2025
Adjusted EBITDA increased 1% to $152 million (margin of 14.3%) vs. $150 million (margin of
13.7%) in Q2 2025
Reported net loss reduced to $20 million vs. $32 million in Q2 2025; Adjusted net profit
reached $4 million vs. $6 million in Q2 2025
Operating cash inflow was $242 million in Q2 2026 vs. $271 million in Q2 2025
Free cash inflow increased to $193 million in Q2 2026 vs. $176 million in Q2 2025
First Half 2026 Highlights:
Sales remained stable (-4% in RMB) reaching $2,100 million
Adjusted gross profit up 2% to $632 million, with an improvement in gross margin to 30.1% in
H1 2026 from 29.7% in H1 2025
Reported net profit reached $62 million vs. a net loss of $11 million in H1 2025; Adjusted net
profit increased 28% to $63 million from $49 million in H1 2025
Adjusted EBITDA amounted to $302 million (margin of 14.4%) vs $310 million (margin of 14.8%)
in H1 2025
Operating cash inflow was $100 million in H1 2026 vs. $242 million in H1 2025
Free cash inflow was $54 million in H1 2026 vs. $90 million in H1 2025
Gaël Hili, President and CEO of ADAMA, said "Over the past two years, we have built a stronger
and more resilient foundation for ADAMA by restoring financial discipline and enhancing operational
efficiency. In the second quarter we see volume growth across most regions, while competitive
market conditions, low farmer profitability and overcapacity continue to create pricing pressure.
ADAMA's pricing discipline supported improved price capture in a number of markets compared with
earlier in the year.
Despite this challenging industry environment, we remain focused on selective growth, disciplined
execution, improving profitability and generating cash. With a stronger foundation in place, we are
advancing our strategy to deliver sustainable growth and long-term value for our shareholders."
Table 1. Financial Performance Summary
As Reported Adjustments Adjusted
USD (m) Q2 Q2 % Change Q2 Q2 Q2 Q2 % Change
2026 2025 2026 2025 2026 2025
Revenues 1,063 1,092 -3% 0 0 1,063 1,092 -3%
Gross profit 286 284 1% 29 33 315 318 -1%
% of sales 26.9% 26.0% 29.6% 29.1%
Operating income (EBIT) 63 55 14% 25 29 89 85 4%
% of sales 6.0% 5.1% 8.3% 7.8%
Income (loss) before taxes (4) (36) 90% 24 39 21 3 582%
% of sales (0.4%) (3.3%) 1.9% 0.3%
Net profit (loss) (20) (32) 38% 24 38 4 6 -25%
% of sales (1.9%) (2.9%) 0.4% 0.5%
EPS
- USD (0.0085) (0.0138) 0.0018 0.0024
- RMB (0.0587) (0.0994) 0.0121 0.017