Highlights
- SQM will hold a hybrid Investor Day virtually and at the New
York Stock Exchange on September 15,
2022. For more information or to register please visit
https://sqm.connectid.cloud/.
- As a result of our operations during the first half of the
year, over US$2.2 billion will go to
public coffers.
- SQM reported net income for the six months ended June 30, 2022 of US$1,655.4 million.
- Earnings per share totaled US$5.80 for the first half of 2022, higher
than the US$0.55 reported for the
first half of 2021.
- Revenues for the first half of 2022 were US$4,618.6 million.
SQM will hold a conference call to discuss these results on
Thursday, August 18, at 12:00pm ET (12:00pm
Chile time).
Participant Dial-In (Toll
Free):
1-855-238-1018
Participant International Dial-In:
1-412-542-4107
Webcast:
https://services.choruscall.com/links/sqm220818.html
SANTIAGO, Chile, Aug. 17,
2022 /PRNewswire/ -- Sociedad Química y Minera de
Chile S.A. (SQM) (NYSE: SQM; Santiago Stock Exchange: SQM-B, SQM-A)
today reported earnings for the six months ended June 30, 2022 of US$1,655.4 million (US$5.80 per share), an over 940% increase from
US$157.8 million (US$0.55 per share) reported for the six months
ended June 30, 2021. Gross profit
reached US$2,462.1 million (53.3% of
revenues) for the six months ended June 30,
2022, 663% higher than US$322.5
million (28.9% of revenues) recorded for the six months
ended June 30, 2021. Revenues totaled
US$4,618.6 million for the six months
ended June 30, 2022, representing an
increase of 314% compared to US$1,116.5
million reported for the six months ended June 30, 2021.
The Company also announced earnings for the second quarter of
2022 of US$859.3 million
(US$3.01 per share), an increase of
857% compared to US$89.8 million
(US$0.31 per share) for the second
quarter of 2021. Gross profit for the second quarter of 2022
reached US$1,297.4 million, 598%
higher than the US$185.9 million
recorded for the second quarter 2021. Revenues totaled US$2,598.8 million for the second quarter 2022,
an increase of approximately 342% compared to US$588.0 million for the second quarter of
2021.
SQM's Chief Executive Officer, Ricardo
Ramos, stated: "We are very pleased with our results for the
first half of the year. These results were related to favorable
market conditions related to fertilizers, iodine and lithium and
decades of investment, hard work, R&D and know-how. In fact,
this year we are celebrating 25 years in the lithium industry.
During this time, we have become a great partner to the government
in this "public-private" alliance with CORFO. As a result of our
operations during the first half of the year, over US$2.2 billion are going to public coffers due to
the lithium operations. More than financial contributions, we are
content that we have been able to develop the Salar de Atacama in
such a way that we have become a world-renowned, integrated
producer of value-added lithium products in Chile that are directly used in cutting edge
batteries all over the world creating value to the local
surrounding communities. All of this through a successful
public-private partnership."
He closed by saying: "We are close to reach 180,000 metric tons
of lithium carbonate capacity and as mentioned previously, we are
not stopping there. Today, we are working to complete a lithium
carbonate capacity of 210,000 metric ton of sought after, top
quality, value-added product which will be produced right here in
Chile. We remain committed to
reducing our usage of brine and water through technology and
continuous innovation. This new capacity will let us produce high
value-added lithium products to power more than 5 million electric
vehicles."
About SQM
SQM is a global company that is listed on the New York Stock
Exchange and the Santiago Stock Exchange (NYSE: SQM; Santiago Stock
Exchange: SQM-B, SQM-A). SQM develops and produces diverse products
for several industries essential for human progress, such as
health, nutrition, renewable energy and technology through
innovation and technological development. We aim to maintain our
leading world position in the lithium, potassium nitrate, iodine
and thermo-solar salts markets.
For further information, 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 Note Regarding Forward-Looking Statements
This news release contains "forward-looking statements" within
the meaning of the safe harbor provisions of the U.S. Private
Securities Litigation Reform Act of 1995. Forward-looking
statements can be identified by words such as: "anticipate,"
"plan," "believe," "estimate," "expect," "strategy," "should,"
"will" and similar references to future periods. Examples of
forward-looking statements include, among others, statements we
make concerning the Company's capital expenditures, financing
sources, Sustainable Development Plan, business outlook, future
economic performance, anticipated profitability, revenues,
expenses, or other financial items, anticipated cost synergies and
product or service line growth.
Forward-looking statements are neither historical facts nor
assurances of future performance. Instead, they are estimates that
reflect the best judgment of SQM management based on currently
available information. Because forward-looking statements relate to
the future, they involve a number of risks, uncertainties and other
factors that are outside of our control and could cause actual
results to differ materially from those stated in such statements,
including our ability to successfully implement the Sustainable
Development Plan. Therefore, you should not rely on any of these
forward-looking statements. Readers are referred to the documents
filed by SQM with the United States Securities and Exchange
Commission, specifically the most recent annual report on Form
20-F, which identifies other important risk factors that could
cause actual results to differ from those contained in the
forward-looking statements. All forward-looking statements are
based on information available to SQM on the date hereof and SQM
assumes no obligation to update such statements, whether as a
result of new information, future developments or otherwise, except
as required by law.
View original
content:https://www.prnewswire.com/news-releases/sqm-reports-earnings-for-the-six-months-ended-june-30-2022-301608144.html
SOURCE Sociedad Quimica y Minera de Chile, S.A. (SQM)