Fertilizantes Heringer, Viana, Brazil, reported a 407.3 percent surge in second-quarter earnings to R$144.7 million on net revenue of R$568.6 million, compared to the year-ago loss of R$47.1 million on revenue of R$293.8 million. EBITDA was R$105.9 million, up from the year-ago R$16.8 million.
Second-quarter fertilizer sales volumes were up 29 percent to 237,769 mt from the year-ago 184,495 mt. Second-quarter specialty fertilizers represent 52 percent of volumes at 123,000 mt, with conventional at 48 percent at 115,000 mt. This compares to the year-ago period, when specialty represented only 45 percent at 83,000 mt, versus conventional at 55 percent and 102,000 mt.
Six-month net income was R$137.3 million on net revenue of R$1.31 billion, up from the year-ago loss of R$252.1 million and revenue of R$680.9 million. EBITDA was R$209.7 million, up from the year-ago R$20.2 million.
Six-month sales volumes were up 34.4 percent, to 614,319 mt from the year-ago 457,137 mt. Specialty products represented 49 percent of sales at 304,000 mt, with conventional at 51 percent at 310,000 mt. The year-ago mix was 43 percent for specialty at 198,000 mt and 57 percent for conventional at 259,000 mt.