Financial Performance - SQM's Last Twelve Months (LTM) revenues reached US$4.5 billion[6] - The company's LTM Adjusted EBITDA stood at US$1.4 billion[6] - SQM's LTM Adjusted EBITDA Margin was 32%[6] - The Net Financial Debt (NFD) to Adjusted EBITDA ratio was 1.6x as of March 31, 2025[6,8] - First Quarter 2025 revenues were US$1,037 million, a decrease of 4% year-on-year[17] Business Segments - Lithium and derivatives LTM revenue was $2,197 million and gross profit was $517 million[23] - Iodine and derivatives LTM revenue was US$983 million and gross profit was US$525 million[29] - Specialty Plant Nutrition LTM revenue was US$946 million and gross profit was US$161 million[39] - Potassium LTM revenue was US$250 million and gross profit was US$33 million[46] - Industrial Chemicals LTM revenue was US$75 million and gross profit was US$30 million[53] Market Position and Outlook - SQM holds approximately 17% of the global lithium chemical market share[23,24] - The company anticipates the global lithium market to grow by approximately 17% in 2025[23] - SQM has approximately 37% of global Iodine market share[34] - SQM has approximately 41% of global KNO3 market share[44] - SQM has approximately 32% of global Industrial Chemicals market share[56]

智通财经APP获悉，据公司内部知情人士和路透社周三看到的一份工会致员工备忘录，全球第二大锂矿 生产商SQM(SQM.US)已开始在智利总部裁减约5%的员工，以应对这种电动汽车电池金属价格长期低迷 之下的艰难经营局面。 自2022年底触及全球锂交易价格的峰值以来，受全球电池金属产能过剩以及全球电动汽车需求不及预期 拖累，锂价已暴跌近90%，迫使部分矿商裁员并长期暂停产能扩张计划，一些小型锂矿商甚至直接宣布 破产。 财报数据显示，SQM第一季度利润大幅低于市场预期，并曾表示预计今年上半年价格仍将持续疲软。 对于此次裁员，公司拒绝任何置评。 根据年度报告，截至去年底 SQM 在智利及全球其他地区共雇用8,344名员工，其中四分之三在智利北部 的锂矿开采和精炼加工基地工作。 工会 Sindicato SQM Salar 于周二发布的初步备忘录显示，该公司管理层已通知工会主席，约25% 至30% 的裁员将涉及"普通岗位"，其余为主管岗位，裁员地点包括圣地亚哥总部办公室、阿塔卡马盐湖以及北 部锂加工厂。 备忘录称："我们对公司作出的决定深表遗憾，它影响到了我们的工会成员们，我们也明确质疑其背后 的理由。"备忘录还显示工会 ...

Core Insights - Sociedad Química y Minera de Chile (SQM) plays a crucial role in the global energy transition by producing lithium, which is essential for powering cellphones, electric vehicles, and energy storage systems [1]. Company Overview - SQM is not just a mining company; it is integral to the supply chain of lithium, a key component in modern technology and renewable energy solutions [1]. Industry Context - The demand for lithium is expected to rise significantly due to the increasing adoption of electric vehicles and the need for energy storage solutions, positioning SQM favorably within the industry [1].

Core Points - Chile's President Boric announced the "National Lithium Strategy" on April 20, 2023, which led to negotiations between Codelco and SQM authorized by Corfo on May 24, 2023 [1] - Codelco disclosed that discussions with Morgan Stanley regarding an "underground agreement" began 21 days prior to the announcement of the lithium strategy, with Morgan serving as a financial advisor during negotiations with SQM [1] - A financial advisory agreement between Codelco and Morgan Stanley was signed on March 30, 2023, prior to the announcement of the lithium strategy, with Morgan's commission set at 0.4% of the net profits from the Codelco-SQM collaboration [1] Company Developments - Codelco's president submitted a copy of the agreement with Morgan Stanley to the Chilean House of Representatives, revealing undisclosed terms, including a provision that no base commission would be paid until a final agreement with SQM was signed [1] - On May 15, 2023, Codelco announced the establishment of two subsidiaries, Codelco de Chile SpA and MineralTararSpA [1] - Codelco sent a letter to Corfo on May 22, 2023, agreeing to enter into cooperation negotiations with SQM [1]

Sociedad Química y Minera de Chile (SQM) Q1 2025 Earnings Call May 28, 2025 12:00 PM ET Company Participants Isabel Bendeck - Investor RelationsRicardo Ramos - CEO & General ManagerBen Isaacson - Managing Director - Equity ResearchGerardo Illanes - VP - Services & FinanceJoel Jackson - Managing DirectorFelipe Smith - Senior Commercial VP - LithiumCarlos Díaz Ortiz - General Manager - Lithium Potassium DivisionAndres Fontannaz - Commercial Vice PresidentAlejandro Demichelis - Managing Director - Equity Resea ...

Sociedad Química y Minera de Chile (SQM) Q1 2025 Earnings Call May 28, 2025 12:00 PM ET Company Participants Isabel Bendeck - Investor RelationsRicardo Ramos - CEO & General ManagerBen Isaacson - Managing Director - Equity ResearchGerardo Illanes - VP - Services & FinanceJoel Jackson - Managing DirectorFelipe Smith - Senior Commercial VP - LithiumCarlos Díaz Ortiz - General Manager - Lithium Potassium DivisionAndres Fontannaz - Commercial Vice PresidentAlejandro Demichelis - Managing Director - Equity Resea ...

Financial Data and Key Metrics Changes - In Q1 2025, the company achieved the highest first quarter lithium sales volumes in its history, with a 20% year-on-year increase, driven by strong demand from the electric vehicle market in China and Europe [6][8] - Average realized prices for lithium in Q2 2025 are expected to be lower than in Q1 due to recent price declines [7][59] Business Line Data and Key Metrics Changes - Lithium sales volumes increased significantly, while iodine prices reached record averages amid tight supply and steady demand, particularly for X-ray contrast media applications [6][8] - Specialty Plant Nutrition (SPN) sales volumes grew healthily, with an upward trend in prices due to strong demand for potassium chloride and supply disruptions [9] - Potassium business volumes were significantly lower compared to the same period last year as part of a strategy to prioritize high lithium content brines [10] Market Data and Key Metrics Changes - The company maintains a view that global lithium demand will grow by 17% in 2025, with SQM's sales expected to grow by 15% year-on-year, although this forecast remains unchanged amid current market conditions [29][64] - The lithium market is currently oversupplied, with prices under pressure, particularly in China [71][90] Company Strategy and Development Direction - The company is focused on expanding lithium production capacity to 240,000 metric tons of lithium carbonate and 100,000 metric tons of lithium hydroxide [8] - Investment in operational efficiencies and capacity expansions is ongoing, with a commitment to sustainable high-quality growth [11] - The company is confident in its strategy and ability to generate cash flow despite current pricing pressures [17][88] Management's Comments on Operating Environment and Future Outlook - Management believes the current low price environment is unsustainable and expects prices to improve in the future [88][90] - The company is well-prepared to take advantage of market recovery due to its strong position as a low-cost producer [88][90] - There is optimism regarding long-term demand growth, particularly in the electric vehicle sector [64][90] Other Important Information - The company is advancing its seawater pipeline construction to expand iodine production capacity [8] - The dividend policy established a distribution of 30% of net income for 2025, with no interim dividends planned for the first quarter [48] Q&A Session Summary Question: Will operating cash flow be breakeven or positive per metric ton in lithium in Q2? - Management indicated they are far from breakeven costs and expect to be significantly above that in Q2 [14][15] Question: How will lower lithium prices affect capital structure and funding for future projects? - Management stated that the company has a strong balance sheet and cash generation capacity from other business lines, which will not constrain future projects [16][18] Question: What is the status of the Codelco joint venture in Chile? - Management described the situation as "noise" due to election year discussions but confirmed that the transaction is progressing as planned [20][26] Question: Will SQM's lithium sales grow by 15% this year? - Management has not updated the annual volume forecast but expects similar or slightly lower volumes in Q2 compared to Q1 [29] Question: How is SQM handling pricing dynamics in China? - Management noted that pricing mechanisms with customers are confidential and cannot provide specifics [36] Question: What is the outlook for Mt. Holland production? - Management confirmed that Mt. Holland is cash positive and ramping up as planned, despite facing higher costs during the ramp-up phase [84][97] Question: What is the company's dividend policy? - The company will distribute 30% of its net income for 2025, with no interim dividends planned for the first quarter [48]

Core Viewpoint - SQM is addressing the global lithium supply surplus issue as demand falls short of expectations while new supplies come online, leading to a decline in lithium prices from their peak at the end of 2022 [1] Group 1: Company Strategy - SQM's CEO, Ricardo Ramos, stated that the company will continue efforts to increase total production capacity of lithium carbonate and lithium hydroxide to 240,000 tons and 100,000 tons respectively [1] - The company plans to continue processing lithium sulfate in China [1] Group 2: Market Context - The current market situation reflects a contrast between SQM's approach of increasing production and the strategies of some high-cost producers who are cutting back on output and spending [1]

Core Viewpoint - Despite the ongoing decline in lithium prices, SQM, one of the largest lithium producers globally, has achieved record lithium sales in the first quarter due to low-cost expansion and strong demand from the electric vehicle market, particularly in China, as well as new demand from energy storage systems [1] Group 1 - SQM reported a 27% year-over-year increase in lithium sales for the three months ending in March [1] - The growth in lithium sales is attributed to the robust expansion of the electric vehicle market and emerging needs from energy storage systems [1]

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 Sust ...