FMC Corp 2024年度报告

2024 A Message to Our Shareholders A Story of Innovation Throughout our history, FMC has demonstrated an unwaveringcommitment to innovation and scientific advancement in service ofagriculture. This legacy of innovation and adaptation continues toguide us as we navigate both challenges and opportunities. Our story at FMC has always been one of innovation, and 2024further strengthened this legacy. Our R&D pipeline continues todeliver breakthrough technologies that address farmers’ most pressingchallenges. Notable highlights include: When I returned as CEO of FMC in June, I immediately focusedour organization on improving market visibility and deliveringmore predictable performance. I’m pleased to report that in thelatter half of the year, we delivered two consecutive quarters withearnings above our guidance midpoint while simultaneously launchingimportant strategic initiatives to position FMC for future success.During my first six months back, we implemented several importantchanges in how we operate, including adapting our operations to bebetter positioned for future success, modernizing our organizationalstructure, and enhancing our ways of working. We also developeda new framework for viewing our portfolio, distinguishing betweencore and growth products, which has brought needed clarity to ourstrategy and execution. •The successful launch of products containing our patented fungicide,fluindapyr, in the United States and Brazil. These innovative fungicideproducts give us access to important corn and soybean segmentswhere we previously had limited presence.•The expansion of Isoflex™ active with product launches in Braziland India. Isoflex™ active, a group 13 herbicide, is a novel modeof action in cereal crops, providing farmers with a new tool forresistance management.•Regulatory registration submissions for Dodhylex™ active in tencountries representing approximately 35% of the global rice market.This innovation addresses critical challenges in rice cultivation,particularly the growing issue of herbicide resistance.•Advancements in the development of rimisoxafen, a dual-mode ofaction herbicide for corn and soybean markets.•The expansion of our biologicals platform, including our novelpheromone solutions. Business Performance Our financial performance in 2024 reflected both market challenges andour efforts to strengthen FMC’s foundation. Revenue was $4.25 billion,down 5 percent compared to 2023, with organic revenue* declining3 percent. While we achieved higher volumes in the second half of theyear, this was more than offset by lower pricing and FX headwinds.Adjusted EBITDA* was $903 million, down 8 percent versus theprior year, and adjusted earnings* were $3.48 per diluted share, alsodown 8 percent compared to 2023. Nevertheless, I’m encouraged byour ability to maintain strong profitability. We achieved an AdjustedEBITDA margin* of 21 percent, representing only a slight decline fromthe prior year despite the drop in sales. This resilience in our marginsreflects our commitment to disciplined cost management. Altogether, FMC launched more than 50 new products globally andsecured over 700 regulatory approvals, expanding our ability to servefarmers worldwide with cutting-edge solutions. While 2024 presented its share of challenges, it also reinforcedthe strength of our strategy and the resilience of our organization.Our transformation efforts have made us more agile and efficient,our innovation pipeline is delivering breakthrough solutions, and ourcommitment to operational excellence remains unwavering. From ourindustry-leading development pipeline to our expanding portfolio ofbiologicals and precision technologies, our fundamental purpose hasremained constant: to provide farmers with innovative solutions thatincrease the productivity and resilience of their land. This missionhas never been more vital than it is today. Transformation Journey Throughout 2024, we significantly accelerated our transformationefforts to build a stronger, more efficient FMC. I am pleased to reportthat we exceeded our increased targets, delivering $165 million innet savings across both operating expenses and cost of goods sold.Our transformation efforts touched every part of FMC, resulting infundamental changes to our operating model. A significant milestonein this transformation was the successful sale of our Global SpecialtySolutions business to Envu in November, allowing us to sharpen ourfocus on our core agricultural business. As we look to the future, I know we have the right strategy, the rightportfolio, and most importantly, the right team to drive sustainable growthand create value for our shareholders. Our 120-year legacy of innovationand adaptation provides a strong foundation as we continue to evolveand grow, serving the changing needs of farmers around the world. Pierre BrondeauChairman of the Board and Chief Executive OfficerFMC Corporation Indicate the number of shares outstanding of each of the issuer’s cl