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SQM(SQM) - 2022 Q3 - Earnings Call Transcript
2022-11-17 16:16
Sociedad QuÃmica y Minera de Chile S.A. (NYSE:SQM) Q3 2022 Earnings Conference Call November 17, 2022 10:00 AM ET Company Participants Kelly O'Brien - Head of Investor Relations Ricardo Ramos - Chief Executive Officer Gerardo Illanes - Chief Financial Officer Felipe Smith - Senior Commercial Vice President-Lithium Pablo Altimiras - Executive Vice President-Iodine & Nitrates Carlos Diaz - Executive Vice President, Lithium Business Conference Call Participants Joel Jackson - BMO Capital Markets P.J. Juvekar - ...
SQM(SQM) - 2022 Q2 - Earnings Call Presentation
2022-08-19 19:19
Financial Performance - Q2 2022 - SQM's revenue reached $2,599 million, a 29% increase compared to Q1 2022 and a 342% increase compared to Q2 2021[7] - Lithium revenue was $1,847 million, showing a 28% increase Q-on-Q and a significant 1,033% increase Y-on-Y[7] - Net income was $82d million, up 8% Q-on-Q and 857% Y-on-Y[7] - Adjusted EBITDA was $1,325 million, a 12% increase Q-on-Q and a 237% increase Y-on-Y[7] Business Line Performance - Lithium average price increased by approximately 701% Y-on-Y, while sales volumes increased by approximately 41%[10] - Iodine average price increased by approximately 58% Y-on-Y, and sales volumes increased by approximately 11%[10] - SPN average price increased by approximately 96% Y-on-Y, but sales volumes decreased by approximately 22%[10] - Potassium average price increased by approximately 222% Y-on-Y, while sales volumes increased by approximately 4%[10] Market Outlook - The global lithium chemical market is expected to grow by over 35% in 2022[19] - SQM anticipates selling at least approximately 145,000 tons of lithium in 2022[20] - The global iodine market is expected to grow by approximately 1-2% in 2022[23] - Agricultural potassium nitrate market demand is expected to decrease by approximately 10% in 2022 due to high prices[25]
SQM(SQM) - 2022 Q2 - Earnings Call Transcript
2022-08-18 17:31
Sociedad QuÃmica y Minera de Chile S.A. (NYSE:SQM) Q2 2022 Earnings Conference Call August 18, 2022 12:00 PM ET Company Participants Kelly OÂ'Brien - Head, Investor Relations Ricardo Ramos - Chief Executive Officer Felipe Miranda - Head of Business Intelligence Felipe Smith - Vice President of Lithium & Iodine Asia Pacific Conference Call Participants Corinne Blanchard - Deutsche Bank Joel Jackson - BMO Capital Markets Guilherme Palhares - Bank of America César Pérez-Novoa - BTG Pactual Operator Good day, a ...
SQM(SQM) - 2022 Q1 - Earnings Call Transcript
2022-05-19 19:43
Financial Data and Key Metrics Changes - The first quarter results were a milestone for the company, reflecting higher prices across all business lines, particularly in lithium, which has significantly benefited from a successful long-term operational and commercial strategy [6][7] - The company reported payments related to the agreement with CORFO and tax provisions totaling approximately $800 million, which is similar to the earnings reported by all business lines during the first quarter [9] Business Line Data and Key Metrics Changes - The lithium business has almost tripled production levels in three years while significantly decreasing extraction of brines, positioning the company as a leader in the lithium industry [7] - The iodine market is on target to increase capacity by 1,000 metric tons next year and 2,500 metric tons in 2024, while nitrate production is set to increase by 320,000 metric tons to meet future demand [10] Market Data and Key Metrics Changes - Approximately 50% of lithium sales are contracted with fully variable price indexes, with expectations for prices in Q2 to be somewhat higher than Q1 [14] - Sales and production were aligned in Q1, but a drop in sales was noted in April due to Shanghai lockdowns, with a recovery expected in May [15] Company Strategy and Development Direction - The company is committed to reviewing its investment plan in the coming months, likely increasing resources for business development in Chile and abroad [9] - The company is exploring new business opportunities, including potential partnerships for lithium production and recycling initiatives with LG [44][56] Management Comments on Operating Environment and Future Outlook - Management acknowledged the challenges posed by the ongoing lockdowns in China but expressed optimism about demand recovery in May [21][28] - The company emphasized the importance of recognizing the long-term efforts of its workforce in achieving current milestones, highlighting a commitment to sustainable development and innovation [29][31] Other Important Information - The company is open to M&A opportunities that can generate value for shareholders, with a focus on ensuring any potential investments align with its financial strategy [36][52] - The company is facing inflationary pressures on costs due to local currency fluctuations and global logistic disturbances but aims to control costs effectively [51] Q&A Session Summary Question: Outlook on lithium pricing for Q2 and inventory sentiment in China - Management indicated that predicting prices is challenging, but they expect Q2 prices to be higher than Q1, with a recovery in demand noted in May after April's lockdowns [14][15] Question: Clarification on sales volume expectations - The company maintains an expectation of around 140,000 metric tons in sales for the year, despite lower volumes anticipated in Q2 due to lockdown impacts [21][26] Question: Impact of lockdowns on supply chain and sales volume - Management confirmed expectations of lower volumes in Q2 but anticipates recovery in the second half of the year, assuming no further lockdowns [26][28] Question: Dividend policy and potential payout levels - The company reiterated its commitment to a conservative financial strategy, reviewing its dividend policy quarterly based on financial performance and cash position [52] Question: Investment plans and potential M&A activity - The company is considering increasing capacity at its Mt. Holland project and remains open to M&A opportunities that align with its strategic goals [36][52] Question: Demand erosion due to high fertilizer prices - Management indicated a potential reduction in fertilizer demand of around 10%, but noted it is too early to make definitive predictions [57]
SQM(SQM) - 2021 Q4 - Annual Report
2022-04-25 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934 For the month of April 2022. Commission File Number 33-65728 CHEMICALAND MINING COMPANY OF CHILE INC. (Translation of registrant's name into English) El Trovador 4285, Santiago, Chile (562) 2425-2000 (Address of principal executive office) Indicate by check mark whether the registrant files or will file annual reports un ...
SQM(SQM) - 2021 Q4 - Earnings Call Transcript
2022-03-03 17:57
Sociedad Quimica y Minera de Chile SA (NYSE:SQM) Q4 2021 Earnings Conference Call March 2, 2022 10:00 AM ET Company Participants Kelly O'Brien - Head, IR Ricardo Ramos - CEO Carlos Diaz - EVP, Lithium Gerardo Illanes - VP, Finance Pablo Altimiras - EVP, Nitrates Iodine Conference Call Participants Cesar Perez-Novoa - BTG Pactual Corinne Blanchard - Deutsche Bank Benjamin Isaacson - Scotiabank Patrick Cunningham - Citigroup Lucas Ferreira - JPMorgan Chase & Co. Joel Jackson - BMO Capital Markets Operator Goo ...
SQM(SQM) - 2021 Q3 - Earnings Call Transcript
2021-11-18 17:23
Financial Data and Key Metrics Changes - The company's earnings in Q3 2021 were significantly higher than the same period last year, driven by increased sales volumes and prices across nearly all business lines [9] - The lithium market demand is expected to grow close to 50% in 2021, with sales volumes projected to reach nearly 100,000 metric tons [10] - Average sales prices for lithium are anticipated to exceed $12,000 per metric ton in Q4 2021 [10] Business Line Data and Key Metrics Changes - Total iodine sales in 2021 are expected to be around 12,500 metric tons, with average sales prices increasing from previous quarters [11] - The potassium and potassium nitrate average prices are projected to reach almost $700 and over $1,000 per metric ton, respectively, during Q4 2021 [12] Market Data and Key Metrics Changes - The iodine market has recovered faster than anticipated, reaching pre-pandemic demand levels [11] - The fertilizer market has seen significant price increases due to supply chain disruptions and export restrictions [12] Company Strategy and Development Direction - The company is focused on sustainable growth and plans to expand lithium capacity to 180,000 metric tons by mid-2022 [10] - There is a positive outlook for the fertilizer market, with strong demand and high prices expected to continue [12] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the ability to deliver future growth while operating sustainably [12] - The company anticipates a record performance in Q4 2021, with significantly higher EBITDA [12] Other Important Information - The company has faced some cost increases due to inflation and supply chain issues, which have affected production costs [35][36] - A fire incident at one of the facilities had a limited impact on production and incurred additional costs of approximately $200,000 [42] Q&A Session Summary Question: Production and Sales Expectations for Lithium - Management expects lithium production to reach around 140,000 metric tons in 2022, with sales volumes growing in line with demand [16][17] Question: Pricing Guidance for 2022 - Approximately 80% of anticipated sales volumes for 2022 are still open for negotiation, with 20% already contracted [20][21] Question: Iodine Pricing and Supply Concerns - Management noted that iodine prices are influenced by supply and demand dynamics, with current prices around $35 per kilogram [32] Question: Cost Impacts from Inflation - Production costs have increased due to higher raw material and energy costs, which are expected to continue affecting the company [35][36] Question: Future Demand for Lithium - The company anticipates continued strong demand for lithium, particularly driven by electric vehicle sales, with expectations for 2022 to be between 20% and 30% growth [37][58] Question: CapEx Guidance for 2022 - The company expects CapEx for 2022 to be close to $500 million [60]
SQM(SQM) - 2021 Q1 - Earnings Call Transcript
2021-05-20 20:41
Sociedad QuÃmica y Minera de Chile S.A. (NYSE:SQM) Q1 2021 Results Conference Call May 20, 2021 12:00 PM ET Company Participants Kelly O'Brien - Head, IR Ricardo Ramos - CEO Gerardo Illanes - CFO Pablo Altimiras - SVP of Lithium and Iodine Business Conference Call Participants Corinne Blanchard - Deutsche Bank Robin Fiedler - BMO P.J. Juvekar - Citigroup Isabella Simonato - Bank of America Ben Isaacson - Scotiabank Cesar Perez-Novoa - BTG Pactual Operator Good day, and welcome to the SQM First Quarter 2021 ...
SQM(SQM) - 2020 Q4 - Earnings Call Transcript
2021-03-04 20:52
Sociedad QuÃmica y Minera de Chile S.A. (NYSE:SQM) Q4 2020 Earnings Conference Call March 4, 2021 10:00 AM ET Company Participants Kelly O'Brien – Head-Investor Relations Ricardo Ramos - Chief Executive Officer Felipe Smith - Commercial Vice President of Lithium and Iodine, Asia-Pacific Conference Call Participants Joel Jackson - BMO Capital Markets Ben Isaacson - Scotiabank Javier Martinez - Morgan Stanley Cesar Perez-Novoa - BTG Pactual Isabella Simonato - Bank of America P.J. Juvekar - Citigroup Operator ...
SQM(SQM) - 2020 Q3 - Earnings Call Transcript
2020-11-20 03:45
Sociedad QuÃmica y Minera de Chile S.A. (NYSE:SQM) Q3 2020 Earnings Conference Call November 19, 2020 10:00 AM ET Company Participants Kelly O'Brien – Head-Investor Relations Ricardo Ramos – Chief Executive Officer Pablo Altimiras – Vice President-Lithium and Iodine Gerardo Illanes – Chief Financial Officer Conference Call Participants Joel Jackson – BMO Capital Markets P.J. Juvekar – Citigroup Isabella Simonato – Bank of America Cesar Perez-Novoa – BTG Pactual Ben Isaacson – Scotiabank Operator Good day, a ...