Revenue and Sales Performance - For the year ended December 31, 2023, revenues from products originating from the Salar de Atacama represented 73% of the company's consolidated revenues[54]. - Approximately 58% of the company's sales in 2023 were made in emerging market countries, with 44% in Asia and Oceania[61]. - The company reported revenues of US7,467.5million,grossprofitofUS3,075.1 million, and profit attributable to controlling interests of US923.2millionfortheyearendedDecember31,2023[215].−In2023,lithiumanditsderivativesaccountedfor6952,000 per metric ton in 2022 to US30,500permetrictonin2023,indicatingsignificantpricevolatility[59].−Thecostofenergyandrawmaterialsconstitutedapproximately272.4 billion investment plan for 2024-2025 to expand lithium, iodine, and nitrate operations[64]. - The company expects capital expenditures for 2024 to reach approximately 1.3billion,focusingonlithiumhydroxidecapacityandnitratesandiodinecapacityexpansionsinChile[208].−Capitalexpenditureforthe2024−2025periodisexpectedtoreachapproximatelyUS2.4 billion, including US1.4billionforlithiumcapacityexpansioninChile[209].−Thecompanyplanstoexpandlithiumhydroxidecapacityto100,000metrictonsby2025[201].OperationalChallengesandRisks−Thecompanyfacesrisksrelatedtoglobalshippingconstraintsthatcouldimpactitsabilitytodeliverproducts[60].−Thegrowthofthecompany′slithiumbusinessisheavilydependentontheadoptionofelectricvehicles,whichhasshownsignsofslowingdemand[72].−Thecompanyisexposedtolaborstrikes,withover9210 million and US15millionannuallyinsustainabledevelopmentprojectsfortheAtacamaLaGrandeindigenouscommunities[152].−AdisagreementwithintheAtacamen~osPeoplesCouncilledtoablockadeofoperationsattheSalardeAtacamafacilitiesforoneday,highlightingpotentialfuturedisruptions[151].−Thecompanyfacesrisksrelatedtorelationshipswithlocalcommunities,whichareessentialforthesuccessofoperationsandmayleadtointerruptionsifnotmanagedproperly[150].TechnologicalandCompetitiveLandscape−Competitorsareimplementingmoreefficientlithiumextractiontechnologies,whichmayaffectthecompany′scompetitivepricinganddemandforitslithiumproducts[76].−Thecompanyisinvestinginresearchanddevelopmentforlithiumextractionprocesses,butsuccessisuncertainandmaynotmeetanticipatedtimelines[76].−Thecompanyaimstomaintainitsleadingpositioninthelithium,potassiumnitrate,iodine,andthermo−solarsaltsmarketsthroughinnovationandtechnologicaldevelopment[225].FinancialandTaxationIssues−Theeffectivewithholdingtaxrateondividendsattributedtoearningsin2023was23.90411986.3 million on SQM Salar for the tax years 2012 to 2023, with ongoing legal challenges regarding these assessments[138]. - SQM Salar recognized a tax expense adjustment of US$1,089.5 million due to the interpretation of a Santiago Court of Appeal ruling, impacting tax years 2012 to 2023[140]. Production Capacity and Achievements - The lithium carbonate production capacity reached 200,000 metric tons by the end of 2023, with expectations to increase to 210,000 metric tons in 2024[201]. - The company achieved IRMA 75 certification for its lithium mining operations in the Salar de Atacama, the highest score worldwide[199]. - The company maintained its inclusion in the Dow Jones Sustainability Indices for the third consecutive year and received a category B climate change rating from the Carbon Disclosure Project[198].
SQM(SQM)2024-04-29 22:53