Tel Aviv-Israel Chemicals Ltd. reported a 281 percent increase in net income available to shareholders during the first quarter ending March 31, 2008. Net income was $346.7 million on sales of $1.53 billion, up from the year-ago $90.6 million and $883 million. Primary drivers for the increase were the sharp increase in fertilizer prices; strong demand for potash and phosphate rock, acids, and fertilizers; higher sales and production volumes for potash and phosphate rock; and the acquisition of the Supresta and Henkel business units. ICL Fertilizers, one of three ICL segments, led the way with operating income of $407.4 million on sales of $952.9 million, versus the year-ago $71.4 million and $451.8 million. First-quarter potash operating profits were $280.5 million on sales of $581.4 million, versus the year-ago $62.2 million and $275.8 million. Total potash sales during the quarter were 1.46 million mt, up from the year-ago 1.22 million mt. Fertilizer/Phosphate operating profits were $132.4 million on sales of $391.6 million, versus the year-ago $9.0 million and $184.2 million. Total phosphate rock production was 746,000 mt, up from 728,000 mt. Sales were 190,000 mt, which are to external customers, up from 96,000 mt. Fertilizer sales to external customers were 471,000 mt, down from 505,000 mt. ICL’s board declared a dividend totaling $173 million will be paid to shareholders on June 25, 2008. On April 30, 2008, ICL paid a dividend totaling $115 million.
Transparency Across the Fertilizer Value-Chain