SQM boosted by 30% lithium price rise in Q1
Published: Thursday, 19 May 2016
Overall income for Chilean lithium, potash, iodine and nitrates producer Sociedad Quimica y Minera SA (SQM) fell by 18% y-o-y, the result of weaker potash and iodine prices. A significant price rise in lithium coupled with increased volumes saw this sector post strong results, however, as demand for the battery mineral continues to rise.
Overall net income for Q1 2016 stood at $58.5m, down from
$71.7m in Q1 2015. Revenues of $391.8m for Q1 2016 up slightly
from $387.5m in Q1 2015. EBITDA* margin of 40% in Q1 2016
compared to 46% in Q1 2015. SQM's CEO, Patricio de Solminhac
noted that "as anticipated, the downward trend...