SANTIAGO, Chile, Aug. 21, 2024 /PRNewswire/ — Sociedad Química y Minera de Chile S.A. (SQM) (NYSE: SQM; Santiago Hold Trade: SQM-B, SQM-A) reported nowadays web loss⁽¹⁾ for the six months ended June 30, 2024, of (US$655.9) million or (US$2.30) consistent with percentage, in comparison to US$1,330.1 million or US$4.66 consistent with percentage reported for a similar duration latter pace. 

Improper benefit reached US$752.5 million (31.6% of revenues) for the six months ended June 30, 2024, not up to US$1,920.7 million (44.5% of revenues) recorded for the six months ended June 30, 2023. Revenues totaled US$2,378.1 million for the six months ended June 30, 2024, representing a snip of 44.9% in comparison to US$4,315.6 million reported for the six months ended June 30, 2023.

The Corporate additionally introduced web source of revenue for the second one quarter of 2024 of US$213.6 million or US$0.75 consistent with percentage, a snip of 63.2% in comparison to US$580.2 million or US$2.03 consistent with percentage for the second one quarter of 2023. Improper benefit for the second one quarter of 2024 reached US$383.9 million, 55.1% not up to the US$855.1 million reported for the second one quarter of 2023. Revenues totaled US$1,293.6 million for the second one quarter of 2024, a snip of 37.0% in comparison to US$2,051.7 million for the second one quarter of 2023.

SQM’s Prominent Govt Officer, Ricardo Ramos, said, “We are very pleased to highlight that during the second quarter, we entered into a partnership agreement with Codelco to extend our operations in the Salar de Atacama until 2060. Together with Codelco, we are working to fulfill the remaining conditions for the partnership to take effect in 2025. The most pivotal of these is the consultation process with the communities surrounding the Salar de Atacama. We are committed to reaching a mutually beneficial agreement with the Atacameño communities founded upon the most rigorous standards, transparency and promotion of the human rights of these communities.”

He persisted by way of announcing, “In the second quarter, we continued to see positive sales volumes growth in the lithium, iodine and fertilizer businesses. While sales volumes in the lithium and iodine businesses again reached record levels, increasing by more than 20% and 11%, respectively, compared to the same period last year, sales volumes in the fertilizer business confirmed the strong demand recovery trends anticipated since the beginning of the year, increasing by more than 20% compared to the same period last year.”    

Mr. Ramos additional said, “The strong sales volumes growth in the lithium business in the second quarter was offset by significantly lower average realized lithium prices, as a result of lower market prices when compared to the same period last year. We see this pricing trend continuing in the second half of this year, with current lithium price indices in China nearly 20% lower than the average lithium price indices in the second quarter of 2024. This trend could have a negative impact on our realized prices, which reflect the prevailing market price trends, in the second half of the year. Given current price levels, we anticipate that some lithium producers may reduce their output, as many projects, especially greenfield, are not economically viable at these prices. In our situation, while we continue to advance our previously announced expansions, we are currently reevaluating specific markets and initiatives that may be less attractive in the near term under these conditions.”

Mr. Ramos closed by way of announcing, “In light of our confidence in the long-term growth of the lithium industry, we launched SQM International Lithium to focus on developing SQM’s lithium business outside of Chile. Leveraging our expertise in exploration, project development, M&A and innovation, SQM International Lithium’s objective is to expand the portfolio of lithium assets we have with various partners outside of Chile, allowing us to increase SQM’s production volumes by at least 100,000 metric tons of LCE per year by the end of this decade.”

About SQM

SQM is an international corporate this is indexed at the Untouched York Hold Trade and the Santiago Hold Trade (NYSE: SQM; Santiago Hold Trade: SQM-B, SQM-A). SQM develops and produces numerous merchandise for a number of industries crucial for human journey, similar to condition, diet, renewable power and generation thru innovation and technological construction. We try to uphold our eminent international place within the lithium, potassium nitrate, iodine and thermo-solar salts markets.

For additional data, touch:

Gerardo Illanes / [email protected]
Irina Axenova  / [email protected]
Isabel Bendeck / [email protected]

For media inquiries, touch:

Maria Ignacia Lopez / [email protected]
Pablo Pisani / [email protected]

Cautionary Word Relating to Ahead-Having a look Statements

This information reduce comprises “forward-looking statements” inside the that means of the defend harbor provisions of the U.S. Personal Securities Litigation Reform Operate of 1995. Ahead-looking statements will also be known by way of phrases similar to: “anticipate,” “plan,” “believe,” “estimate,” “expect,” “strategy,” “should,” “will” and alike references to day classes. Examples of forward-looking statements come with, amongst others, statements we form in regards to the finishing touch and implementation of the proposed partnership with Codelco, the improvement of Salar Futuro Undertaking, Corporate’s capital expenditures, financing assets, Sustainable Building Plan, trade and insist outlook, day financial efficiency, expected gross sales volumes and gross sales costs, profitability, revenues, bills, or alternative monetary pieces, expected price synergies and services or products order expansion.

Ahead-looking statements are neither historic information nor commitments of day efficiency. In lieu, they’re estimates that replicate the most efficient judgment of SQM control according to recently to be had data. As a result of forward-looking statements relate to the day, they contain a variety of dangers, uncertainties and alternative elements which are outdoor of our keep an eye on and may purpose unedited effects to range materially from the ones said in such statements, together with our talent to effectively put into effect the Sustainable Building Plan. Subsequently, you must now not depend on any of those forward-looking statements. Readers are referred to the paperwork filed by way of SQM with america Securities and Trade Fee, together with the latest annual record on Mode 20-F, which identifies alternative notable possibility elements that would purpose unedited effects to range from the ones contained within the forward-looking statements. All forward-looking statements are according to data to be had to SQM at the pace hereof and SQM assumes disagree legal responsibility to replace such statements, whether or not because of pristine data, day traits or differently, excluding as required by way of legislation.

⁽¹⁾ Contains the online impact of accounting changes for the bills of the precise tax on mining actions for the exploitation of lithium for the six months ended June 30, 2024, in a complete quantity of US$1,106.9 million. For extra property, please please see Word (1) to this Income reduce.

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