SQM(US:SQM)2023-05-18 06:24Financial Performance - SQM's Earnings per Share reached US$2.63[4] - Revenue reached US$2,264 million, a 12% year-on-year increase[12] - Gross Profit was US$1,088 million, a 8% year-on-year decrease[12] - Net Income was US$1,066 million, a 9% year-on-year decrease[12] - Adjusted EBITDA was US$750 million, a 6% year-on-year decrease, with an Adjusted EBITDA Margin of 48%, a 18% year-on-year decrease[12] - The company's total contribution to the Chilean treasury surpassed US$1 billion for the three months ended March 31, 2023[28] Business Segment Highlights - Iodine sales prices experienced a record-high increase of 40%, coupled with a 12% increase in sales volumes[5] - Lithium sales volumes decreased by 15%, but were partially offset by a 34% increase in average sales prices[14] - Potassium average sales prices decreased by 21%, and sales volumes decreased by 3%[10] - Specialty Plant Nutrition (SPN) experienced lower sales volumes (-20%), with flat year-on-year average sales prices[5] Market Outlook and Strategy - The lithium market is expected to remain tight, with demand growing at least 20% and new supply being delayed[34] - The company expects to sell approximately 500,000 metric tons of potassium chloride and potassium sulfate in 2023[74] - SQM plans to add approximately 1,000 metric tons of iodine capacity in 2023[51] - Total capital expenditure for 2023-2025 is projected to be US$2.2 billion, including maintenance[18] - Iodine and Nitrates projects will have a total capital expenditure of approximately US$1.2 billion from 2023-2025, including maintenance[68]