ADM reported strong Q2 results, with net earnings of $712 million and adjusted net earnings of $754 million. “Our productivity efforts are powering our execution, and—combined with our unparalleled global footprint and strong risk management—supported outstanding results in both Ag Services & Oilseeds and Carbohydrate Solutions,” said chairman and CEO Juan Luciano. “And we’re driving innovation, which helped support record top-line and bottom-line results in Nutrition; in fact, we are now raising our expectations of full-year profit growth for Nutrition to 20%.”
ADM also made the headlines earlier this year when it agreed to pay $45 million to settle price-fixing allegations levelled against its Golden Peanut division.
In July, ADM announced that it would acquire European non-GMO soy ingredients group Sojaprotein, which offers a variety of soy ingredients for the meat alternative, confectionery, protein bar, pharmaceutical, and other segments. The company also revealed plans to invest approx. $350 million to build a new soybean crushing plant in North Dakota to cater to demand from the food, feed and biofuel industries. Construction of the facility is expected to be completed in 2023. In April, the company opened a new plant-based innovation lab within its Biopolis research hub in Singapore, as it looked to advance protein innovation.
|Ranking (last five years):|
|Year end:||December 2020|
|Total sales, local currency:||64,355
|Food sales, local currency:||35,395
|Total sales, $m:||64,355
|Food sales, $m:||35,395
|Juan R Luciano, Chairman, President and CEO|
|Ben Bard, VP, Global CCO and Chief Audit Executive|
|Camille Batiste, President, Global Supply Chain and Procurement|
|Kristy Folkwein, Senior VP and Chief Information Officer|
|Leticia Gonçalves, President, Global Specialty Ingredients|