Fertilizantes Heringer SA, Viana, Brazil, reported a third-quarter loss on a slight uptick in volumes. Losses decreased to R9.9 million on net revenues of R1.48 billion from the year-ago R22.5 million and R1.51 billion, respectively.
Third-quarter volumes moved up 2.9 percent, to 1.36 million mt from the year-ago 1.32 million mt. While conventional fertilizer deliveries were up 6.7 percent, to 730,000 mt from the year-ago 684,000 mt, specialty was off 1.3 percent, to 628,000 mt from 636,000 mt. Specialties share of total sales dropped to 46 percent from the year-ago 48 percent.
Heringer announced that it has introduced a foliar line to its specialty portfolio, and has the goal of soon being ranked among the main market players within the foliar segment. While the company said the foliar line volumes will be much smaller than other specialty lines, the products will have higher margins.
Nine-month losses were R102.4 million on revenues of R3.3 billion, up from the year-ago R9.2 million and R3.82 billion, respectively.
Nine-month volumes were 2.97 million mt, down 5.1 percent from the year-ago 3.13 million mt. Conventional fertilizer deliveries were up 0.1 percent, to 1.593 million mt from 1.592 million mt. However, Specialty was off 10.4 percent, to 1.38 million mt from 1.54 million mt. Specialties share of sales dropped to 46 percent from the year-ago 49 percent.