SQM Reports Earnings For The Second Quarter Of 2020
- SQM reported net income for the six months ended
June 30, 2020of US$95.8 million.
- Earnings per share totaled
US$0.36for the first half of 2020, lower than the US$0.57reported for the first half of 2019.
- Revenues for the first half of 2020 were
- Lithium sales volumes during the second quarter 2020 exceeded 12,600 metric tons, almost 50% higher than sales volumes reported in the first quarter of the year.
- Second quarter iodine prices were stable, and hovered around
US$35per kilogram, while the business line contributed approximately 39% to our overall gross profit during the first half of the year.
- We began delivery of solar salts, selling over 60,000 metric tons during the second quarter. We remain on track to sell about 150,000 metric tons this year.
- Plants continued operating without any material impact related to the Covid-19 pandemic.
- Published our audited Annual Sustainability Report
SQM will hold a conference call to discuss these results on
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The Company also announced earnings for the second quarter of 2020, reporting net income of
SQM's Chief Executive Officer,
"Although the downward lithium pricing trend continued during the second quarter, I would like to highlight that lithium sales volumes exceeded 12,600 metric tons, almost 50% higher than sales volumes reported in the first quarter of the year, in line with our goal of selling higher lithium sales volumes this year, when compared with last year, thus increasing our market share. In the iodine market, prices were stable, and hovered around
"We have been able to evoke change and promote efficiency resulting from the challenges and opportunities than have arisen amidst the 2020 Covid-19 pandemic. We have a diverse portfolio, a strong balance sheet, high-quality assets and great team. These company attributes will continue to help us successfully manage the turbulent times we are all facing."
SQM is a global company that is listed on the
- Ensuring access to the best assets related to our current business lines by expanding our global presence;
- Actively searching for attractive minerals allowing us diversification opportunities to replicate and expand our existing mining capacities;
- Strengthening our operational, logistical and commercial excellence process from beginning to end, while looking to be a cost leader; and
- Maintaining a conservative financial policy which allows us to successfully endure economic cycles that could impact the markets in which we sell.
We are a company built and managed by a culture based on excellence, safety, sustainability and integrity. We work every day to expand this culture through the attraction, retention and development of talent as well encouraging an inclusive and diverse work environment ensuring the unique knowledge and innovation needed to sustain our business. We strive for safe and accident-free operations by promoting conduct that favors the physical safety and psychological well-being of everyone who works directly and indirectly with the Company.
We position ourselves as leaders in sustainability and work to create a "green" image through the constant efforts to responsibly manage natural resources, care for the environment, form close and trusting relationships with our neighboring communities and through the creation of value. Within these communities, we support projects and activities with a focus on education, business development, and protection of the environment and historical heritage. We create value for our clients through established commercial models and the production and development of differentiated products that respond to their industry and market specific needs, constantly creating and providing a sustainable improvement in the quality of life. We will continue to create value for all of our stakeholders through responsible management of natural resources, sustainable expansion projects and improvement of our existing operations, with a focus on minimizing our environmental impacts by reducing our carbon, energy and water footprints and working together with our shareholders, employees, customers, suppliers and communities.
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Cautionary Note Regarding Forward-Looking Statements
This news release contains "forward-looking statements" within the meaning of the safe harbor provisions of the
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. Therefore, you should not rely on any of these forward-looking statements. Readers are referred to the documents filed by SQM with the