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SANTIAGO, Chile , Nov. 16, 2022 /PRNewswire/ — Sociedad Química y Minera de Chile S.A. (SQM) (NYSE: SQM; Santiago Inventory Alternate: SQM-B, SQM-A) reported immediately earnings for the 9 months ended September 30, 2022 , of US$2,755.3 million ( US$9.65 per ADR), a rise from US$263.9 million ( US$0.92 per ADR) for the 9 months ended September 30, 2021 .
Gross revenue reached US$4,094.8 million (54.0% of revenues) for the 9 months ended September 30, 2022 , larger than US$547.3 million (30.8% of revenues) recorded for the 9 months ended September 30, 2021 . Revenues totaled US$7,577.0 million for the 9 months ended September 30, 2022 , representing a rise of 326% in comparison with US$1,778.0 million reported for the 9 months ended September 30, 2021 .
The Firm additionally introduced earnings for the third quarter of 2022, reporting internet earnings of US$1,099.9 million ( US$3.85 per ADR) in comparison with US$106.1 million ( US$0.37 per ADR) for the third quarter of 2021. Gross revenue for the third quarter of 2022 reached US$1,632.7 million , larger than the US$224.8 million recorded for the third quarter of 2021. Revenues totaled US$2,958.3 million , a rise of roughly 347% in comparison with the third quarter of 2021, when revenues amounted to US$661.6 million .
SQM‘s Chief Govt Officer, Ricardo Ramos , said: “We’re more than happy with our outcomes for the primary 9 months of the 12 months. We’ve believed within the lithium market for a few years, and on account of this, we’ve got invested closely in R&D and have rapidly expanded capability. Throughout the first 9 months of the 12 months, we had been efficiently in a position to surpass our inner manufacturing targets within the enterprise and our gross sales volumes within the third quarter had been the very best we’ve got ever reported. As well as, lithium costs continued to extend all through the third quarter. Our earnings reached file highs on account of the constructive market situations talked about above and the investments and dangers SQM undertook over the previous years, letting us contribute greater than US$3.6 billion to the general public coffers due our operations in the course of the first 9 months of the 12 months, which incorporates greater than US$2.3 billion associated to the profitable public-private alliance with CORFO.”
He continued by saying, “Deepening our dedication with creating a sustainable lithium trade in Chile , in the course of the third quarter we introduced our plans associated to the Salar Futuro venture . We consider that this plan will likely be helpful for all stakeholders, and we stay up for working with all of them to cut back our footprint additional than our beforehand introduced targets by utilizing innovation, new applied sciences equivalent to Superior Evaporation Applied sciences (AET), Direct Lithium Extraction (DLE) and by rising yields and utilizing of sea water. The Salar Futuro venture implies vital technological challenges, and investments for greater than US$1.5 billion , that might permit us to have, right here in Chile , essentially the most sustainable mining operation on this planet. The preliminary exams permit us to be optimistic; these are elementary modifications within the applied sciences and processes at present. These plans might positively change the way in which lithium mining is completed globally and that makes us very proud.”
He added, “We proceed to see sturdy alerts relating to the longer term demand development of lithium. This 12 months we consider demand development will likely be over 40% when in comparison with final 12 months and for that reason we proceed to spend money on new initiatives. In September, we introduced the acquisition and improvement of a brand new plant in China , that may allow us to produce as much as 30,000 metric tons of lithium hydroxide in China , from lithium sulfate coming from Chile . Along with this, immediately, the board of Administrators accredited the primary levels to increase our lithium hydroxide capability from 40,000 metric ton to 100,000 metric ton in Chile . This enlargement would require a complete funding of a further US$360 million to the beforehand introduced capex plan and must be in full operation by 2025. Each initiatives will permit us to have the pliability to answer future market wants whereas carry on including worth to the Salar de Atacama operation.”
He closed by saying, “Lastly, in the course of the previous few months, we’ve got signed long run contracts for each lithium and iodine, proving our dedication to our companies and the mutual belief and collaboration that we’ve got with the primary gamers within the industries during which we function”.
About SQM
SQM is a worldwide firm that’s listed on the New York Inventory Alternate and the Santiago Inventory Alternate (NYSE: SQM; Santiago Inventory Alternate: SQM-B, SQM-A). SQM develops and produces numerous merchandise for a number of industries important for human progress, equivalent to well being, diet, renewable power and know-how by means of innovation and technological improvement. We intention to keep up our main world place within the lithium, potassium nitrate, iodine and thermo-solar salts markets.
For additional data, contact:
Gerardo Illanes 56-2-24252022 / gerardo.illanes@sqm.com
Kelly O’Brien 56-2-24252074 / kelly.obrien@sqm.com
Irina Axenova 56-2-24252280 / irina.axenova@sqm.com
For media inquiries, contact:
Maria Ignacia Lopez / ignacia.lopez@sqm.com
Pablo Pisani / pablo.pisani@sqm.com
Cautionary Observe Concerning Ahead-Trying Statements
This information launch incorporates “forward-looking statements” throughout the which means of the secure harbor provisions of the U.S. Non-public Securities Litigation Reform Act of 1995. Ahead-looking statements might be recognized by phrases equivalent to: “anticipate,” “plan,” “consider,” “estimate,” “count on,” “technique,” “ought to,” “will” and comparable references to future intervals. Examples of forward-looking statements embrace, amongst others, statements we make in regards to the Firm’s capital expenditures, financing sources, Sustainable Growth Plan, enterprise outlook, future financial efficiency, anticipated profitability, revenues, bills, or different monetary objects, anticipated price synergies and services or products line development.
Ahead-looking statements are neither historic info nor assurances of future efficiency. As a substitute, they’re estimates that mirror one of the best judgment of SQM administration primarily based on at present accessible data. As a result of forward-looking statements relate to the longer term, they contain a lot of dangers, uncertainties and different components which can be outdoors of our management and will trigger precise outcomes to vary materially from these said in such statements, together with our potential to efficiently implement the Sustainable Growth Plan. Subsequently, you shouldn’t depend on any of those forward-looking statements. Readers are referred to the paperwork filed by SQM with the US Securities and Alternate Fee, particularly the newest annual report on Type 20-F, which identifies different vital danger components that would trigger precise outcomes to vary from these contained within the forward-looking statements. All forward-looking statements are primarily based on data accessible to SQM on the date hereof and SQM assumes no obligation to replace such statements, whether or not on account of new data, future developments or in any other case, besides as required by regulation.
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SOURCE Sociedad Quimica y Minera de Chile , S.A. (SQM)
