ICL Group (ICL) investor relations material

Executive summary

• Achieved 2025 sales of $7.153 billion, up 5% year-over-year, with adjusted EBITDA of $1.488 billion and adjusted EPS of $0.36, despite significant non-recurring charges.

• Q4 2025 sales reached $1.701 billion, up 6% year-over-year, with adjusted EBITDA up 10% to $380 million and adjusted EPS up 13% to $0.09.

• Strategic focus on Specialty Crop Nutrition and Food Solutions, including acquisitions of Bartek Ingredients and Lavie Bio, and portfolio optimization.

• Discontinued LFP battery material projects in the US and Spain, closed a minor R&D facility, and initiated sale of UK operations to optimize capital allocation.

• Secured Dead Sea concession assets and signed new potash supply contracts with Chinese customers for 2026.

Financial highlights

• Q4 Adjusted EBITDA was $380 million, up 10% year-over-year; adjusted diluted EPS was $0.09, up 13%.

• Full-year adjusted EBITDA was $1.488 billion; adjusted diluted EPS for 2025 was $0.36.

• Operating cash flow for 2025 was $1.056 billion; Q4 operating cash flow was $340 million.

• Dividend payout was 50% of adjusted net income, totaling $224 million and a 3.1% yield.

• Net debt to Adjusted EBITDA ratio at 1.3x; available resources of $1.6 billion at year-end.

Outlook and guidance

• 2026 adjusted EBITDA guidance is $1.4–$1.6 billion; potash sales volumes expected between 4.5–4.7 million metric tons.

• Annual adjusted tax rate expected at approximately 30% for 2026.

• Growth expected from specialty crop nutrition and food solutions, with continued M&A and geographic expansion.

• Upside risks: higher potash and bromine prices/volumes, improved Brazilian agribusiness; downside risks: high sulfur costs, unfavorable shekel/dollar exchange rates.