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Sociedad Química y Minera de Chile (SQM) investor relations material
Sociedad Química y Minera de Chile Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Achieved record lithium sales volumes in Q3 2025, with improved pricing and strong demand from EV and ESS sectors, supported by operational efficiencies in Atacama and progress in Australia.
Third quarter 2025 revenue reached $1,173 million, up 12.5% quarter-on-quarter and 9% year-on-year, with net income rising 35.8% year-over-year to $178.4M.
Iodine and specialty plant nutrition segments delivered strong results, with high prices and sustainable growth in volumes and revenues.
Updated CAPEX plan for 2025–2027 totals $2.7B, focused on lithium, iodine, and water infrastructure expansion.
Earnings per share for the nine months were $1.42, compared to a loss of $1.84 per share in the prior year.
Financial highlights
Gross profit for Q3 was $346 million, up 36% quarter-on-quarter and 24% year-on-year, with adjusted EBITDA at $404 million and a margin of 34%.
Iodine revenues increased 5% year-over-year, with average prices near $73/kg.
Lithium segment contributed 40% to gross profit, with record sales volumes (+43%) but lower average prices (-15%) year-on-year.
Gross margin for the nine months was $904.1M (27.8% of revenues), down from $1,033.3M (29.9%) year-over-year.
Adjusted EBITDA for the nine months was $1,071.6M (32.9% margin), compared to $1,155.5M (33.4%) in the prior year.
Outlook and guidance
Lithium demand expected to exceed 1.5 million metric tons in 2025 (25% YoY growth), with 2026 demand projected over 1.7 million metric tons.
Upward trend in lithium prices anticipated for Q4, with robust demand from EV and ESS markets.
Iodine market demand projected to grow 3% in 2026, with prices expected to remain high.
Specialty plant nutrition market expected to return to 4% growth in 2025, with healthy demand and firmer prices.
No capital raise anticipated in 2026 due to a strong balance sheet and improving KPIs.
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