Core Insights - The recovery in lithium carbonate prices has led to significant profit growth for Chilean mining giant SQM in Q3 2025, with revenues reaching $1.173 billion, an 8.9% increase from $1.077 billion in the same period last year [1] - The company's gross profit rose to $346 million, up 23.1% from $281 million year-on-year, while net profit increased by 35.8% to $178 million from $131 million [1] - SQM's adjusted EBITDA for Q3 2025 was $404 million, reflecting a 23.5% increase from $327 million in Q3 2024 [1] Financial Performance - Q3 2025 revenue: $1.173 billion, up 8.9% from $1.077 billion in Q3 2024 [1] - Gross profit: $346 million, a 23.1% increase from $281 million year-on-year [1] - Adjusted EBITDA: $404 million, up 23.5% from $327 million in Q3 2024 [1] - Net profit: $178 million, a 35.8% increase from $131 million year-on-year [1] Lithium Market Dynamics - Lithium and its derivatives revenue reached $604 million, a 21.4% increase from $497 million year-on-year, with lithium sales volume growing by 43%, marking the highest sales record in the company's history [2] - The recent surge in lithium carbonate prices is attributed to supply-demand imbalances, with supply constraints and low inventory levels providing support [6] - The demand side is bolstered by policy support and the rapid growth of the domestic energy storage market, alongside sustained high demand from the electric vehicle sector [6] Future Outlook - SQM's CEO, Ricardo Ramos, anticipates that the upward trend in lithium prices will continue into Q4, driven by strong demand from electric vehicles and energy storage systems [6] - The company projects a 20% increase in global lithium demand by 2025 [6] - Analysts suggest that SQM's favorable year-on-year data, higher average realized prices, and continued sales growth will provide strong support for the company's performance in 2025 [7]

据悉，今年7月，中国碳酸锂价格曾受益于"反内卷"行情并迎来一波上涨，此后行情逐渐降温。而自10月 中旬以来，碳酸锂价格上涨行情再度启动，中国碳酸锂期货主力合约自低点71000元/吨左右上涨超过 40%。 智通财经APP获悉，受益于碳酸锂价格复苏，锂业巨头智利矿业化工(SQM.US)在2025年第三季度实现了 盈利增长。财报显示，智利矿业化工Q3营收为11.73亿美元，较上年同期的10.77亿美元增长8.9%。毛利 润为3.46亿美元，较上年同期的2.81亿美元增长23.1%。调整后的息税折旧摊销前利润(EBITDA)为4.04亿 美元，较上年同期的3.27亿美元增长23.5%。净利润为1.78亿美元，较上年同期的1.31亿美元增长35.8%。 | | | | For the nine months ended | | | --- | --- | --- | --- | --- | | | For the 3rd quarter | | September 30, | | | (US$ millions) | 2025 | 2024 | 2025 | 2024 | | Profit for the Period ...