• ICL Group average gross margin for 2023 was 41.48%, a 12.25% decline from 2022.
• ICL Group average gross margin for 2022 was 47.27%, a 40.1% decline from 2021.
• ICL Group average gross margin for 2021 was 33.74%, a 9.76% increase from 2020.

Gross margin can be defined as a company's total sales revenue minus its cost of goods sold, divided by the total sales revenue, expressed as a percentage.