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Lianhetech: revenue from agrochemicals +3.2% YoY to USD402.8 million in 2018

 

In 2018, Lianhe Chemical Technology Co., Ltd. (Lianhetech) made revenue of USD613.0 million, up by 0.2% year on year, and net profit of USD5.6 million, down by 81.7% year on year. Of this, the revenue from pesticide business was USD402.8 million, up by 3.2% year on year. 

 

The fall in net profit can be mainly attributed to the production suspension of Lianhetech Jiangsu site and Yancheng site for 3+ months because of environmental inspection, and the reserves of large amount of money for goodwill impairment.

 

 

Table 1: Financial performance of Lianhe Chemical, 2017, 2018 (million USD)

Index

2018

2017

YoY change

Revenue

613.0

612.0

0.16%

Cost of sales

587.2

570.2

3.0%

Net profit

5.6

30.5

-81.7%

Distribution expenses

8.2

6.7

21.9%

Administrative expenses

89.7

85.5

5.0%

Financial expenses

-3.43

0.5

-758.9%

R&D investment

28.9

29.8

-2.8%

-

Closing balance

Opening balance

YoY change

Total assets

1,285.1

1,292.8

-0.60%

Debts

431.9

449.4

-3.9%


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