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Business Wire
19-05-2025
- Business
- Business Wire
ICL Reports First Quarter 2025 Results
TEL AVIV, Israel & ST. LOUIS--(BUSINESS WIRE)-- ICL (NYSE: ICL) (TASE: ICL), a leading global specialty minerals company, today reported its financial results for the first quarter ended March 31, 2025. Consolidated sales were $1.8 billion versus $1.7 billion in the prior year. Operating income was $185 million versus $203 million of operating income in the first quarter of last year, with adjusted operating income of $208 million versus $215 million. For the first quarter, net income attributable to shareholders was $91 million versus $109 million in the prior year, with adjusted net income of $110 million compared to $118 million. Adjusted EBITDA was $359 million versus $362 million. Diluted earnings per share were $0.07 versus $0.08 in the first quarter of last year, with adjusted diluted EPS of $0.09 – the same as in the first quarter of last year. 'ICL delivered sequential increases in first quarter sales, adjusted EBITDA and EPS, with results led by our specialties-driven businesses. Our Industrial Products, Phosphate Solutions and Growing Solutions businesses also reported year-over-year growth in sales and EBITDA, generally driven by higher volumes with limited price improvement. For our Potash segment, prices were lower year-over-year, as expected, with supply more heavily weighted toward our annual 2024 contracts with China and India, which are at lower prices than current market rates,' said Elad Aharonson, president and CEO of ICL. 'Looking forward, we expect to benefit from our existing distinctive global presence, as the industry awaits additional clarity regarding global tariff and trade negotiations. We plan to rely on our regionally diversified operations and will also continue to focus on specialties solutions for our global customers on a local basis using local production.' The company reiterates its guidance for full year 2025, with specialties-driven EBITDA of between $0.95 billion to $1.15 billion and Potash sales volumes of between 4.5 million and 4.7 million metric tons. (1a) Key Financials First Quarter 2025 US$M Ex. per share data 1Q'25 1Q'24 Sales $1,767 $1,735 Gross profit $560 $557 Gross margin 32% 32% Operating income $185 $203 Adjusted operating income (1) $208 $215 Operating margin 10% 12% Adjusted operating margin (1) 12% 12% Net income attributable to shareholders $91 $109 Adjusted net income attributable to shareholders (1) $110 $118 Adjusted EBITDA (1) $359 $362 Adjusted EBITDA margin (1) 20% 21% Diluted earnings per share $0.07 $0.08 Diluted adjusted earnings per share (1) $0.09 $0.09 Cash flows from operating activities (2) $165 $292 Expand (1) Adjusted operating income and margin, adjusted net income attributable to shareholders, adjusted EBITDA and margin, and diluted adjusted earnings per share are non-GAAP financial measures. Please refer to the adjustments table and disclaimer. (2) See "Condensed consolidated statements of cash flows (unaudited)" in the appendix below. Expand Industrial Products First quarter 2025 Sales of $344 million vs. $335 million. EBITDA of $76 million vs. $72 million. Year-over-year growth driven by better volumes in flame retardants. Key developments versus prior year Flame retardants: Overall sales increased, with bromine-based product sales up slightly, as higher volumes offset lower prices. Sales of phosphorous-based solutions increased, with higher volumes mainly in Europe and the U.S., and overall higher prices. Both the electronics and construction end-markets remained somewhat soft, in the first quarter. Elemental bromine: Higher volumes drove an increase in sales, offsetting lower market prices. Clear brine fluids: Sales lower, despite solid trends and continued strength in oil and gas demand in the Gulf of America, while competition increased in the Eastern Hemisphere. Specialty minerals: A slight increase in sales was driven by higher volumes and prices for magnesium chloride used in deicing, while there was a decrease in specialty magnesia demand for pharma and food applications. Potash First quarter 2025 Sales of $405 million vs. $423 million. EBITDA of $118 million vs. $124 million. Grain Price Index decreased 12.1% year-over-year, with corn up 9.1%, while rice, soybeans and wheat were down 22.2%, 15.1% and 8.1%, respectively. On a sequential basis, the Grain Price Index increased 1.0%, with corn, soybeans and wheat up 10.5%, 3.3%, 4.5%, respectively, while rice declined 6.8%. Key developments versus prior year Potash price: $300 per ton (CIF). Up 5% sequentially but down 7% year-over-year. ICL continued to fulfill its 2024 annual contracts with China and India, and the prices in these agreements were lower than market rates, which improved as the first quarter progressed. Potash sales volumes: 1,103 thousand metric tons. Increased by 19 thousand metric tons year-over-year, with higher volumes mainly to Brazil and China. ICL Dead Sea Production decreased, with continued operational challenges primarily related to external forces. ICL Iberia Production lower, while efficiency efforts remain on-track. Phosphate Solutions First quarter 2025 Sales of $573 million vs. $559 million. EBITDA of $139 million vs. $131 million. Year-over-year growth driven by strength in commodities, while specialties results were lower but in-line with market dynamics. Key developments versus prior year White phosphoric acid: Sales increased, as strong volume growth in all regions offset lower prices. Industrial phosphates: Sales increased, as higher volumes in all major regions offset lower prices related to decreasing cost inputs. Food phosphates: Despite higher volumes, sales decreased due to lower market prices, which reflected reduced raw material costs. Battery materials: Sales decreased, as higher prices in China were unable to offset lower volumes. In January, ICL signed a strategic agreement with Shenzhen Dynanonic to establish battery materials production in Europe, and in early April, the company formally commissioned its Battery Materials Innovation and Qualification (BMIQ) Center in St. Louis. Commodity phosphates: Overall phosphate prices were stable to higher, as global demand remained firm and as China continued to restrict exports. Growing Solutions First quarter 2025 Sales of $495 million vs. $479 million. EBITDA of $47 million vs. $42 million. Continued focus on innovative, regional solutions helped drive year-over-year growth. Key developments versus prior year Brazil: Sales increased on both higher volumes and prices, however, product mix and exchange rate fluctuations caused a decrease in gross profit. Europe: Sales decreased on lower volumes, but gross profit increased, due to higher prices and improved product mix. North America: Sales increased, with higher volumes – in part due to the 2024 acquisition of Custom Ag Formulators – and slightly higher prices contributing to increased gross profit. Asia: Sales increased, as higher volumes drove higher gross profit. Product trends: Specialty agriculture sales increased on both higher volumes, in Europe, the U.S., China and Brazil, and higher prices – mainly in Brazil. Turf and ornamental sales increased, with turf and landscape experiencing both higher volumes and prices, while ornamental horticulture volumes declined in the U.S. and China. In early April, ICL acquired a leading ag-biologicals company, and this acquisition further advanced the company's stated goal of expanding its Growing Solutions product offerings and to position the business for further growth in new and adjacent end-markets. Financial Items Financing Expenses Net financing expenses for the first quarter of 2025 were $37 million, up versus $35 million in the corresponding quarter of last year. Tax Expenses Reported tax expenses in the first quarter of 2025 were $42 million, reflecting an effective tax rate of 28%, compared to $42 million in the corresponding quarter of last year, reflecting an effective tax rate of 25%. Available Liquidity ICL's available cash resources, which are comprised of cash and deposits, unutilized revolving credit facility, and unutilized securitization, totaled $1,491 million, as of March 31, 2025. Outstanding Net Debt As of March 31, 2025, ICL's net financial liabilities amounted to $1,993 million, an increase of $142 million compared to December 31, 2024. Dividend Distribution In connection with ICL's first quarter 2025 results, the Board of Directors declared a dividend of 4.26 cents per share, or approximately $55 million, versus 4.57 cents per share, or approximately $59 million, in the first quarter of last year. The dividend will be payable on June 18, 2025, to shareholders of record as of June 4, 2025. About ICL ICL Group Ltd. is a leading global specialty minerals company, which creates impactful solutions for humanity's sustainability challenges in the food, agriculture and industrial markets. ICL leverages its unique bromine, potash and phosphate resources, its global professional workforce, and its sustainability focused R&D and technological innovation capabilities, to drive the company's growth across its end markets. ICL shares are dual listed on the New York Stock Exchange and the Tel Aviv Stock Exchange (NYSE and TASE: ICL). The company employs more than 12,000 people worldwide, and its 2024 revenue totaled approximately $7 billion. For more information, visit ICL's website at To access ICL's interactive CSR report, visit You can also learn more about ICL on Facebook, LinkedIn, YouTube, X and Instagram. Guidance (1a) The company only provides guidance on a non-GAAP basis. The company does not provide a reconciliation of forward-looking adjusted EBITDA (non-GAAP) to GAAP net income (loss), due to the inherent difficulty in forecasting, and quantifying certain amounts that are necessary for such reconciliation, in particular, because special items such as restructuring, litigation, and other matters, used to calculate projected net income (loss) vary dramatically based on actual events, the company is not able to forecast on a GAAP basis with reasonable certainty all deductions needed in order to provide a GAAP calculation of projected net income (loss) at this time. The amount of these deductions may be material, and therefore could result in projected GAAP net income (loss) being materially less than projected adjusted EBITDA (non-GAAP). The guidance speaks only as of the date hereof. The company undertakes no obligation to update any of these forward-looking statements to reflect events or circumstances after the date of this news release or to reflect actual outcomes, unless required by law. The company provides guidance for specialties-driven EBITDA, which includes Industrial Products, Growing Solutions and Phosphate Solutions, as the Phosphate Solutions business is now predominantly specialties focused. For the Potash business, the company is providing sales volume guidance. The company believes this information provides greater transparency, as these new metrics are less impacted by fertilizer commodity prices, given the extreme volatility in recent years. Non-GAAP Statement The company discloses in this quarterly report non-IFRS financial measures titled adjusted operating income, adjusted net income attributable to the company's shareholders, diluted adjusted earnings per share, and adjusted EBITDA. Management uses adjusted operating income, adjusted net income attributable to the company's shareholders, diluted adjusted earnings per share, and adjusted EBITDA to facilitate operating performance comparisons from period to period. The company calculates adjusted operating income by adjusting operating income to add certain items, as set forth in the reconciliation table under 'Adjustments to reported operating, and net income (non-GAAP)' below. Certain of these items may recur. The company calculates adjusted net income attributable to the company's shareholders by adjusting net income attributable to the company's shareholders to add certain items, as set forth in the reconciliation table under 'Adjustments to reported operating, and net income (non-GAAP)' below, excluding the total tax impact of such adjustments. The company calculates diluted adjusted earnings per share by dividing adjusted net income by the weighted-average number of diluted ordinary shares outstanding. Adjusted EBITDA is calculated as net income before financing expenses, net, taxes on income, share in earnings of equity-accounted investees, depreciation and amortization, and certain adjustments presented in the reconciliation table under 'Consolidated adjusted EBITDA, and diluted adjusted earnings per share for the periods of activity' below, which were adjusted for in calculating the adjusted operating income. You should not view adjusted operating income, adjusted net income attributable to the company's shareholders, diluted adjusted earnings per share or adjusted EBITDA as a substitute for operating income or net income attributable to the company's shareholders determined in accordance with IFRS, and you should note that the company's definitions of adjusted operating income, adjusted net income attributable to the company's shareholders, diluted adjusted earnings per share, and adjusted EBITDA may differ from those used by other companies. Additionally, other companies may use other measures to evaluate their performance, which may reduce the usefulness of the company's non-IFRS financial measures as tools for comparison. However, the company believes adjusted operating income, adjusted net income attributable to the company's shareholders, diluted adjusted earnings per share, and adjusted EBITDA provide useful information to both management, and investors by excluding certain items that management believes are not indicative of ongoing operations. Management uses these non-IFRS measures to evaluate the company's business strategies and management performance. The company believes these non‑IFRS measures provide useful information to investors because they improve the comparability of financial results between periods and provide for greater transparency of key measures used to evaluate performance. The company presents a discussion in the period-to-period comparisons of the primary drivers of change in the company's results of operations. This discussion is based in part on management's best estimates of the impact of the main trends on the company's businesses. The company has based the following discussion on its financial statements. You should read such discussion together with the company's financial statements. Forward Looking Statements This announcement contains statements that constitute 'forward‑looking statements', many of which can be identified by the use of forward‑looking words such as 'anticipate', 'believe', 'could', 'expect', 'should', 'plan', 'intend', 'estimate', 'strive', 'forecast', 'targets' and 'potential', among others. The company is relying on the safe harbor provided in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, in making such forward-looking statements. Forward‑looking statements appear in a number of places in this announcement and include, but are not limited to, statements regarding the company intent, belief or current expectations. Forward‑looking statements are based on the company management's beliefs and assumptions and on information currently available to the company management. Such statements are subject to risks and uncertainties, and the actual results may differ materially from those expressed or implied in the forward‑looking statements due to various factors, including, but not limited to: Changes in exchange rates or prices compared to those the company is currently experiencing; loss or impairment of business licenses or mineral extractions permits or concessions; volatility of supply and demand and the impact of competition; the difference between actual reserves and the company reserve estimates; natural disasters and cost of compliance with environmental regulatory legislative and licensing restrictions including laws and regulation related to, and physical impacts of climate change and greenhouse gas emissions; failure to "harvest" salt which could lead to accumulation of salt at the bottom of the evaporation Pond 5 in the Dead Sea; disruptions at the company seaport shipping facilities or regulatory restrictions affecting the company ability to export the company products overseas; general market, political or economic conditions in the countries in which the company operates, including tariffs and trade policies; price increases or shortages with respect to the company principal raw materials; delays in termination of engagements with contractors and/or governmental obligations; the inflow of significant amounts of water into the Dead Sea which could adversely affect production at the company plants; labor disputes, slowdowns and strikes involving the company employees; pension and health insurance liabilities; pandemics may create disruptions, impacting the company sales, operations, supply chain and customers; changes to governmental incentive programs or tax benefits, creation of new fiscal or tax related legislation; and/or higher tax liabilities; changes in the company evaluations and estimates, which serve as a basis for the recognition and manner of measurement of assets and liabilities; failure to integrate or realize expected benefits from mergers and acquisitions, organizational restructuring and joint ventures; currency rate fluctuations; rising interest rates; government examinations or investigations; disruption of the company, or the company service providers', information technology systems or breaches of the company, or the company service providers', data security; failure to retain and/or recruit key personnel; inability to realize expected benefits from the company cost reduction program according to the expected timetable; inability to access capital markets on favorable terms; cyclicality of the company businesses; changes in demand for the company fertilizer products due to a decline in agricultural product prices, lack of available credit, weather conditions, government policies or other factors beyond the company control; sales of the company magnesium products being affected by various factors that are not within the company control; the company ability to secure approvals and permits from the authorities in Israel to continue the company phosphate mining operations in Rotem Amfert Israel; volatility or crises in the financial markets; hazards inherent to mining and chemical manufacturing; the failure to ensure the safety of the company workers and processes; litigation, arbitration and regulatory proceedings; exposure to third party and product liability claims; product recalls or other liability claims as a result of food safety and food-borne illness concerns; insufficiency of insurance coverage; closing of transactions, mergers and acquisitions; war or acts of terror and/or political, economic and military instability in Israel and its region; including the current state of war declared in Israel and any resulting disruptions to the company supply and production chains; filing of class actions and derivative actions against the company, its executives and Board members; The company is exposed to risks relating to its current and future activity in emerging markets; and other risk factors discussed under 'Item 3 - Key Information— D. Risk Factors" in the company's Annual Report on Form 20-F for the year ended December 31, 2024, filed with the U.S. Securities and Exchange Commission (the 'SEC') on March 13, 2025 (the 'Annual Report'). Forward-looking statements speak only as of the date they are made, and the company does not undertake any obligation to update them in light of new information or future developments or to release publicly any revisions to these statements in order to reflect later events or circumstances or to reflect the occurrence of unanticipated events. Investors are cautioned to consider these risks and uncertainties and to not place undue reliance on such information. Forward-looking statements should not be read as a guarantee of future performance or results and are subject to risks and uncertainties, and the actual results may differ materially from those expressed or implied in the forward-looking statements. This announcement for the first quarter of 2025 should be read in conjunction with the Annual Report of 2024 published by the company on Form 20-F, as of and for the year ended December 31, 2024, including the description of the events occurring subsequent to the date of the statement of financial position, as filed with the US SEC. Appendix Condensed Consolidated Statements of Financial Position as of (Unaudited) Condensed Consolidated Statements of Cash Flows (Unaudited) Adjustments to Reported Operating and Net Income (non-GAAP) (1) For 2025 and 2024, reflects charges relating to the security situation in Israel. (2) For 2025, reflects expenses related to the fire incident at Ashdod Port. (3) For 2025, reflects provisions for early retirement, due to restructuring at certain sites, as part of the Company's global efficiency plan. (4) For 2025 and 2024, reflects the tax impact of adjustments made to operating income. Expand Consolidated EBITDA for the Periods of Activity $ millions Three-months ended March 31, 2025 March 31, 2024 Net income 106 126 Financing expenses, net 37 35 Taxes on income 42 42 Less: Share in earnings of equity-accounted investees - - Operating income 185 203 Depreciation and amortization 151 147 Adjustments (1) 23 12 Total adjusted EBITDA 359 362 (1) See "Adjustments to Reported Operating and Net income (non-GAAP)" above. Expand Calculation of Segment EBITDA (1) For the first quarter of 2025, Phosphate Specialties accounted for $324 million of segment sales, $39 million of operating income, $12 million of D&A and $51 million of EBITDA, while Phosphate Commodities accounted for $249 million of segment sales, $52 million of operating income, $36 million of D&A and represented $88 million of EBITDA. Expand
Yahoo
23-04-2025
- Business
- Yahoo
ICL Announces First Quarter 2025 Earnings Call
TEL AVIV, Israel, April 23, 2025--(BUSINESS WIRE)--ICL (NYSE: ICL) (TASE: ICL), a leading global specialty minerals company, today announced it plans to release first quarter 2025 results prior to the opening of the TASE market on Monday, May 19, 2025. On that day, Elad Aharonson, president and CEO of ICL, and Aviram Lahav, CFO of ICL, will host a conference call to discuss results, provide a general business update and answer questions at 8:30 a.m. New York time (1:30 p.m. London and 3:30 p.m. Tel Aviv). The dial-in number for financial analysts in North America is (800) 549-8228, or (646) 564-2877 for international analysts, and the conference ID is ICL. To participate, please dial in a few minutes before the scheduled time. Employees, the media and the public are invited to listen to the call using the webcast link found at A replay will be available online within approximately 24 hours of the live event. About ICL ICL Group is a leading global specialty minerals company, which creates impactful solutions for humanity's sustainability challenges in the food, agriculture and industrial markets. ICL leverages its unique bromine, potash and phosphate resources, its global professional workforce, and its sustainability focused R&D and technological innovation capabilities, to drive the company's growth across its end markets. ICL shares are dual listed on the New York Stock Exchange and the Tel Aviv Stock Exchange (NYSE and TASE: ICL). The company employs more than 12,000 people worldwide, and its 2024 revenues totaled approximately $7 billion. For more information, visit ICL's website at To access ICL's interactive CSR report, visit You can also learn more about ICL on Facebook, LinkedIn, YouTube, X and Instagram. Forward Looking Statements This announcement contains statements that constitute forward-looking statements, many of which can be identified by the use of forward-looking words such as "anticipate," "believe," "could," "expect," "should," "plan," "intend," "estimate" and "potential," among others. Forward-looking statements appear in this press release and include, but are not limited to, statements regarding the company's intent, belief or current expectations. Forward-looking statements are based on management's beliefs and assumptions and on information currently available to management. Such statements are subject to risks and uncertainties, and actual results may differ materially from those expressed or implied in the forward-looking statements due to various factors, including, but not limited to: estimates, forecasts and statements as to management's expectations with respect to, among other things, business and financial prospects, financial multiples and accretion estimates, future trends, plans, strategies, positioning, objectives and expectations, general economic, market and business conditions, supply chain and logistics disruptions, energy storage and electric vehicle growth, the potential for new COVID-19 variants, global unrest and conflict, governmental and regulatory requirements and actions by governmental authorities, including changes in government policy, changes in environmental, tax and other laws or regulations and the interpretation thereof, and war or acts of terror and/or political, economic and military instability in Israel and its region, including the current state of war declared in Israel and any resulting disruptions to our supply and production chains. As a result of the foregoing, readers should not place undue reliance on the forward-looking statements contained in this press release concerning the timing of the transaction, or other more specific risks and uncertainties facing ICL, such as those set forth in the "Risk Factors" section of its Annual Report on Form 20-F filed on March 13, 2025, as such risk factors may be updated from time to time in its Current Reports on Form 6-K and other filings ICL makes with the U.S. Securities and Exchange Commission from time to time. Forward-looking statements refer only to the date they are made, and the company does not undertake any obligation to update them in light of new information or future developments or to publicly release any revisions to these statements in order to reflect later events or circumstances or to reflect the occurrence of unanticipated events. View source version on Contacts Investor and Press Contact – Global Peggy Reilly TharpVP, Global Investor Relations+ Investor and Press Contact - Israel Adi BajayoICL Spokesperson+ Sign in to access your portfolio
Business Wire
23-04-2025
- Business
- Business Wire
ICL Announces First Quarter 2025 Earnings Call
TEL AVIV, Israel--(BUSINESS WIRE)-- ICL (NYSE: ICL) (TASE: ICL), a leading global specialty minerals company, today announced it plans to release first quarter 2025 results prior to the opening of the TASE market on Monday, May 19, 2025. On that day, Elad Aharonson, president and CEO of ICL, and Aviram Lahav, CFO of ICL, will host a conference call to discuss results, provide a general business update and answer questions at 8:30 a.m. New York time (1:30 p.m. London and 3:30 p.m. Tel Aviv). The dial-in number for financial analysts in North America is (800) 549-8228, or (646) 564-2877 for international analysts, and the conference ID is ICL. To participate, please dial in a few minutes before the scheduled time. Employees, the media and the public are invited to listen to the call using the webcast link found at A replay will be available online within approximately 24 hours of the live event. About ICL ICL Group is a leading global specialty minerals company, which creates impactful solutions for humanity's sustainability challenges in the food, agriculture and industrial markets. ICL leverages its unique bromine, potash and phosphate resources, its global professional workforce, and its sustainability focused R&D and technological innovation capabilities, to drive the company's growth across its end markets. ICL shares are dual listed on the New York Stock Exchange and the Tel Aviv Stock Exchange (NYSE and TASE: ICL). The company employs more than 12,000 people worldwide, and its 2024 revenues totaled approximately $7 billion. For more information, visit ICL's website at To access ICL's interactive CSR report, visit You can also learn more about ICL on Facebook, LinkedIn, YouTube, X and Instagram. Forward Looking Statements This announcement contains statements that constitute forward-looking statements, many of which can be identified by the use of forward-looking words such as 'anticipate,' 'believe,' 'could,' 'expect,' 'should,' 'plan,' 'intend,' 'estimate' and 'potential,' among others. Forward-looking statements appear in this press release and include, but are not limited to, statements regarding the company's intent, belief or current expectations. Forward-looking statements are based on management's beliefs and assumptions and on information currently available to management. Such statements are subject to risks and uncertainties, and actual results may differ materially from those expressed or implied in the forward-looking statements due to various factors, including, but not limited to: estimates, forecasts and statements as to management's expectations with respect to, among other things, business and financial prospects, financial multiples and accretion estimates, future trends, plans, strategies, positioning, objectives and expectations, general economic, market and business conditions, supply chain and logistics disruptions, energy storage and electric vehicle growth, the potential for new COVID-19 variants, global unrest and conflict, governmental and regulatory requirements and actions by governmental authorities, including changes in government policy, changes in environmental, tax and other laws or regulations and the interpretation thereof, and war or acts of terror and/or political, economic and military instability in Israel and its region, including the current state of war declared in Israel and any resulting disruptions to our supply and production chains. As a result of the foregoing, readers should not place undue reliance on the forward-looking statements contained in this press release concerning the timing of the transaction, or other more specific risks and uncertainties facing ICL, such as those set forth in the 'Risk Factors' section of its Annual Report on Form 20-F filed on March 13, 2025, as such risk factors may be updated from time to time in its Current Reports on Form 6-K and other filings ICL makes with the U.S. Securities and Exchange Commission from time to time. Forward-looking statements refer only to the date they are made, and the company does not undertake any obligation to update them in light of new information or future developments or to publicly release any revisions to these statements in order to reflect later events or circumstances or to reflect the occurrence of unanticipated events.
USA Today
14-02-2025
- Business
- USA Today
How this Company is Leading the Agtech Revolution
Chris Gallagher Contributor Human beings have been practicing organized agriculture for an estimated 8,500 years and have constantly innovated to beat the challenges of changing climates, pests and predation and population pressures. The world is currently in the opening stages of a massive new agricultural revolution that is combining recent advances in high tech and data sciences with traditional agricultural methods to meet the challenges of the 21st century on a sustainable basis. Standing behind this new AgTech revolution is the goal to ensure food security and reduce hunger worldwide. One of the pioneers at the forefront of AgTech innovation is ICL Group. The company is channeling research and development into a range of game-changing technologies that are transforming farming and food production around the world. Disruptions to the Food Supply Chain The massive ongoing challenges of global warming (and associated extreme weather events) and the need to feed a growing world population that is expected to reach 9.1 billion by 2050 have all impacted food security and have caused major global food shortages. The rate of global population increase may be slowing in the long term; however 10 billion people will still need to be fed before the end of the century. Projections vary, but some agronomists anticipate a need to double current agricultural production. The Shift to Sustainable Agriculture There is a shift to sustainable agriculture that places environmental protection and the efficient use of existing resources at the forefront of this industry. The emphasis is on obtaining higher yields from existing lands and reducing negative environmental impacts and operating costs. The goal is to be able to produce more with less. Leading AgTech Innovations ICL Group is a global specialty minerals company and has been developing and creating innovative Agtech solutions that have been impacting the industry. The company also places sustainability at the forefront of its core activities. Its biggest production plants are even currently undergoing conversion to circular economies powered by locally generated green energy. According to Elad Aharonson, President of ICL's Growing Solutions: 'Through cutting-edge technology and continuous innovation, we strive to create sustainable solutions that are revolutionizing the future of agriculture.' ICL Group has made a long-term commitment to align its strategies with the climate change goals of the Paris Agreement and also with the wider objectives of the United Nations 17 Sustainable Development Goals (17 SDGs). The UN SDG 2 Zero Hunger is an inspirational challenge that ICL group is addressing through AgTech innovation, particularly in the field of precision agriculture and sustainability. Precision agriculture, driven by artificial intelligence, big data, biogenetics, the internet of things (connected to robotics, autonomous vehicles, and drones) is turning farming units into the agricultural equivalent of smart factories. One of ICL Group's next generation controlled release fertilizers eqo.x, is an environmentally friendly fertilizer. Its unique biodegradable release technology delivers nutrients throughout each crop growth cycle - without wastage or environmental damage from excess nutrients leaching into soil or groundwater, leaving no harmful residue. eqo.x can reduce nutrient losses by up to 50% and increase nitrogen use efficiency by up to 80% via its temperature-based controlled release mechanism. This translates into major savings for growers and reduces their carbon footprint. ICL Group Partnerships for Strategic Growth Through ICL's FoodTech and AgTech accelerator 'The Planet Startup Hub'- ICL's knowledge, experience, strengths, and resources connect with external innovation in order to bring innovative ideas to market. In fact, the Agtech market is expected to grow exponentially in the coming years and will become increasingly competitive, as can be seen in the chart below. Innovative Startups in the Agtech Field Agmatix is an agro informatics company that is part of ICL's AgTech digital solutions. The startup offers apps and platforms that leverage big data to provide growers with data-based insights and solutions for crop plans. Interestingly, Agmatix pitches its products towards agronomists. Another key area where Agmatix is delivering much needed innovation is field trials. Agmatix Agronomic Trial Management software streamlines the design and implementation of field trials, standardizing data and securely connecting stakeholders and participants around the world. Agmatix software can reduce the cost and duration of trials, expand their parameters and reduce the multi-year journey to market for vital AgTech products. Growers, another one of ICL's AgTech solutions, connects farmers and their advisors to the rest of the agriculture ecosystem through its software platform, and empowers agricultural professionals with augmented decision-making capabilities and executable data-driven recommendations. The Future of AgTech AgTech is evolving as rapidly as its high-tech equivalents in industry and finance. Smart agriculture is nowhere near as high profile as other branches of the high-tech sector, but it is arguably the world's most vital industry: without a stable food supply nothing can function. The ability to feed a growing human population - in a sustainable and environmentally friendly fashion - depends on continual technological innovation and a steady stream of breakthrough ideas. This is how ICL operates. Programs like ICL's BIG (Business Innovation for Growth) internal accelerator are designed to develop ideation and a culture of innovation and channel employee ideas into active projects. With over 13,000 employees worldwide, ICL invests strongly in developing employee engagement initiatives. Transparency is a core value of ICL. According to ICL's recent ESG report, the company recognizes the value of lessons learned in shaping its decisions and actions. While its commitment is to always strive to do the right thing, in the right way, the company acknowledges that mistakes can happen. ICL Dead Sea is working to minimize its environmental footprint and to restore, as much as possible, open areas that have been environmentally and ecologically disturbed. Companies can devote financial resources and create new R&D facilities for AgTech research, but ultimately it's the commitment and dedication of people who want to end world hunger and create a new sustainable agricultural ecosystem that are driving the future of AgTech. ICL is an example of a company that continues its mission to seek innovative AgTech and sustainable agriculture solutions that help support the agricultural ecosystem.
