Chilean lithium, iodine and fertiliser producer Sociedad Quimica y Minera (SQM) has reported a 19% increase in income to $649.167m after tax for fiscal 2012 as revenues rose on the back of strong demand for lithium and higher prices for iodine products.
The company posted higher sales volumes and revenues its potassium, industrial chemicals and lithium and derivatives business lines compared to 2011, as well as increased revenues and margins in iodine.
SQM also increased its potassium production last year following the completed expansion of its Salar de Atacama potassium project in 2012.
Commenting on the results, SQM CEO Patricio Contesse said: “We have recently seen increased downward price pressures in the fertiliser markets, and understand that broader financial markets, specifically in Europe, will have an impact on our business in 2013.”