Jindalee Spin-Out Dynamic Metals Indicators $20M JV with Mineral Sources

Sociedad Química y Minera de Chile S.A. (SQM) (NYSE: SQM; Santiago Inventory Change: SQM-B, SQM-A) reported these days revenue for the 365 days ended December 31, 2023 , of US$2,012.7 million ( US$7.05 consistent with ADR), a lower of roughly 48.5% from US$3,906.3 million ( US$13.68 consistent with ADR) for the 365 days ended December 31, 2022 .

Gross benefit reached US$3,075.1 million (41.2% of revenues) for the 365 days ended December 31, 2023 , not up to US$5,736.6 million (53.6% of revenues) recorded for the 365 days ended December 31, 2022 . Revenues totaled US$7,467.5 million for the 365 days ended December 31, 2023 , representing a lower of roughly 30.3% in comparison to US$10,710.6 million reported for the 365 days ended December 31, 2022 .

The Corporate additionally introduced revenue for the fourth quarter of 2023 of US$203.2 million ( US$0.71 consistent with proportion), a lower of roughly 82.3% in comparison to US$1,151.0 million ( US$4.03 consistent with proportion) for the fourth quarter of 2022. Gross benefit for the fourth quarter of 2023 reached US$400.7 million , roughly 75.6% not up to the US$1,641.9 million reported for the fourth quarter 2022. Revenues totaled US$1,311.6 million for the fourth quarter of 2023, a lower of roughly 58.1% in comparison to US$3,133.6 million for the fourth quarter of 2022.

SQM‘s Leader Government Officer, Ricardo Ramos , mentioned: “Our fourth quarter 2023 effects mirrored record-high gross sales volumes in lithium industry and larger gross sales volumes in iodine and potassium industry traces when in comparison to the former quarter and the similar length final 12 months. Regardless of a downturn in lithium marketplace costs when in comparison to the former 12 months, our center of attention on operational potency and talent to effectively execute capability enlargement initiatives have facilitated notable manufacturing expansion in lithium and iodine companies over the last 12 months. Whilst we proceed with our expansions in Chile and be expecting our lithium carbonate capability to achieve 210,000 metric lots all over the primary quarter of this 12 months, we additionally celebrated first manufacturing of spodumene listen at our Mt. Holland operation web page all over the fourth quarter of 2023. Within the iodine industry, on account of a hit start-up of Pampa Blanca operation, record-high manufacturing volumes had been accomplished all over the 12 months, reconfirming SQM´s place as trade chief with talent to ship expansion forward of festival.”

He persevered by means of pronouncing: “As we input into 2024, we wait for every other powerful 12 months of expansion in lithium marketplace, with world call for expanding by means of a minimum of 20%, supported by means of electrical car gross sales expansion globally and extending call for for battery fabrics. Then again, the surplus in lithium and battery fabrics capability noticed all over final 12 months is anticipated to proceed all over this 12 months, holding force on lithium marketplace costs. We think our moderate lithium costs to stay reasonably strong right through the 12 months and our gross sales volumes to extend quite all over this 12 months, topic to marketplace stipulations and any adjustments in supply-demand stability.”

He completed by means of pronouncing: “In December final 12 months, we signed a Memorandum of Figuring out with Codelco to collectively expand the Salar Futuro mission and sustainably perform within the Salar de Atacama past 2030. At the side of the communities, we’re running at the definitive documentation within the upcoming months and can tell the marketplace as soon as this procedure is concluded. Closing 12 months, SQM used to be integrated into each DJSI International and Rising Markets indices, a number of years forward of our inner objective. That is the results of ongoing paintings and our commitments to extend the transparency and sustainability of our operations.”

Overall capital expenditure in 2023 used to be with reference to US$1.1 billion . For the length 2024-2025, overall capex is anticipated to be roughly US$2.4 billion , together with:

  • US$1.4 billion associated with lithium capability enlargement initiatives in Chile , together with US$130 million of repairs.
  • US$700 million associated with nitrates and iodine capability enlargement mission in Chile , together with US$160 million of repairs.
  • US$340 million associated with Mt. Holland lithium mission in Australia and exploration initiatives.

The capex for 2024 is anticipated to be roughly US$1.3 billion , together with repairs.

About SQM

SQM is a world corporate this is indexed at the New York Inventory Change and the Santiago Inventory Change (NYSE: SQM; Santiago Inventory Change: SQM-B, SQM-A). SQM develops and produces numerous merchandise for a number of industries very important for human development, corresponding to well being, vitamin, renewable power and era via innovation and technological building. We goal to handle our main international place within the lithium, potassium nitrate, iodine and thermo-solar salts markets.

For additional data, touch:

Gerardo Illanes / gerardo.illanes@sqm.com
Irina Axenova  / irina.axenova@sqm.com
Isabel Bendeck / isabel.bendeck@sqm.com

For media inquiries, touch:

Maria Ignacia Lopez / ignacia.lopez@sqm.com
Pablo Pisani / pablo.pisani@sqm.com

Cautionary Notice Relating to Ahead-Taking a look Statements

This information liberate incorporates “forward-looking statements” throughout the which means of the protected harbor provisions of the U.S. Personal Securities Litigation Reform Act of 1995. Ahead-looking statements will also be known by means of phrases corresponding to: “wait for,” “plan,” “consider,” “estimate,” “be expecting,” “technique,” “must,” “will” and an identical references to long run sessions. Examples of forward-looking statements come with, amongst others, statements we make regarding the implementation of the MoU and doable partnership with Codelco, the advance of Salar Futuro Challenge, Corporate’s capital expenditures, financing assets, Sustainable Building Plan, industry and insist outlook, long run financial efficiency, expected gross sales volumes, profitability, revenues, bills, or different monetary pieces, expected value synergies and services or products line expansion.

Ahead-looking statements are neither historic info nor assurances of long run efficiency. As an alternative, they’re estimates that replicate the most productive judgment of SQM control according to these days to be had data. As a result of forward-looking statements relate to the long run, they contain various dangers, uncertainties and different elements which might be out of doors of our keep an eye on and may just purpose exact effects to vary materially from the ones mentioned in such statements, together with our talent to effectively put in force the Sustainable Building Plan. Subsequently, you must no longer depend on any of those forward-looking statements. Readers are referred to the paperwork filed by means of SQM with the USA Securities and Change Fee, together with the latest annual file on Shape 20-F, which identifies different essential possibility elements that would purpose exact effects to vary from the ones contained within the forward-looking statements. All forward-looking statements are according to data to be had to SQM at the date hereof and SQM assumes no legal responsibility to replace such statements, whether or not on account of new data, long run traits or in a different way, except for as required by means of legislation.

Cision View unique content material: https://www.prnewswire.com/news-releases/sqm-reports-earnings-for-the-twelve-months-ended-december-31-2023-302075007.html

SOURCE Sociedad Quimica y Minera de Chile , S.A. (SQM)


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