White Plains, N.Y. — Bunge Ltd. reported that results from its fertilizer business were slightly lower in the fourth quarter due to a more challenging margin environment. Fertilizer earnings before interest and tax (EBIT) for the fourth quarter ending Dec. 31, 2011, were a negative $3 million on sales of $930 million, compared to the year-ago positive $1 million on sales of $731 million. Gross profit was $43 million, down from $62 million, while volumes were up at 1.75 million mt from the year-ago 1.68 million mt. For the year, fertilizer EBIT was a negative $1 million on sales of $3.15 billion, compared to the year-ago $2.34 billion and sales of $2.73 billion. The year-ago figure reflected the sale of major production assets to Vale S.A. Full-year gross profit was down slightly to $152 million from $155 million, while volumes dropped to 6 million mt from 7.71 million mt. Company-wide, Bunge reported net income attributable to Bunge of $942 million ($6.07 per diluted share) on sales of $58.7 billion for the year, compared to 2010’s $2.35 billion ($15.06 per share) on sales of $45.7 billion. Fourth-quarter net income was $254 million ($1.65 per share) on sales of $16.4 billion, versus the year-ago $301 million ($1.95 per share) on sales of $12.73 billion.
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