SANTIAGO, Chile, May 28, 2013 /PRNewswire/ -- Sociedad Quimica y Minera de Chile S.A. (SQM) (NYSE: SQM; Santiago Stock Exchange: SQM-B, SQM-A) reported today earnings for the first quarter of 2013 of US$151.8 million (US$0.58 per ADR), an increase of 1.2% with respect to the same period of 2012, when earnings totaled US$150.0 million (US$0.57 per ADR). Gross Margin2 reached US$238.9 million (38.3% of revenues), 1.1% higher than the US$263.3 million (44.6% of revenues) recorded during the first quarter of 2012. Revenues totaled US$623.4 million for the first quarter, representing an increase of 17.7% over the US$529.6 million reported in the same period of 2012.
SQM's Chief Executive Officer, Patricio Contesse, stated, "Gross profit during the first quarter of 2013 was slightly better than both the first and last quarter of 2012; however, we expect the remainder of 2013 to be lower than the first part of this year. It is anticipated that total market demand for potash will exceed market demand seen in 2012, although we have seen the impact of lower prices in our fertilizers markets. In the chemical markets we are seeing healthy demand growth, where new entrants to the lithium and iodine markets will capture some market share this year. For 2014 we expect markets to continue evolving positively and our sales to evolve accordingly."
Mr. Contesse continued, "During this year, we will continue our major capital expenditures focused on increasing production is the Salar de Atacama; these expansions will give us the flexibility to help meet market demands in the future."
For the complete version of this press release, please visit our Web site: www.sqm.com.
SQM is an integrated producer and distributor of specialty plant nutrients, iodine, lithium, potassium-related fertilizers and industrial chemicals. Its products are based on the development of high quality natural resources that allow the Company to be a leader in costs, supported by a specialized international network with sales in over 100 countries. SQM's development strategy aims to maintain and strengthen the Company's position in each of its businesses.
The leadership strategy is based on the Company's competitive advantages and on the sustainable growth of the different markets in which it participates. SQM's main competitive advantages in its different businesses include:
- Low production costs based on vast and high quality natural resources;
- Know-how and its own technological developments in its various production processes;
- Logistics infrastructure and high production levels that allow SQM to have low distribution costs;
- High market share in all its core products;
- International sales network with offices in almost 20 countries and sales in over 100 countries;
- Synergies from the production of multiple products that are obtained from the same two natural resources;
- Continuous new product development according to the specific needs of its different customers;
- Conservative and solid financial position.
For further information contact:
Kelly O'Brien 56-2-24252074 / [email protected]
Constanza Schulz 56-2-24252058 / [email protected]
Mark Fones 56-2-24252271 / [email protected]
For media inquiries, contact: Felipe Encinas 56-2-2425-2027 / [email protected]
Statements in this press release concerning the Company's business outlook, future economic performances, anticipated profitability, revenues, expenses, or other financial items, anticipated cost synergies and product or service line growth, together with other statements that are not historical facts, are "forward-looking statements" as that term in defined under Federal Securities Laws.
Any forward-looking statements are estimates that reflect the best judgment of SQM management based on currently available information and involve a number of risks, uncertainties and other factors that could cause actual results to differ materially from those stated in such statements. Risks, uncertainties, and factors that could affect the accuracy of such forward-looking statements should be considered in light of those factors.
SOURCE Sociedad Quimica y Minera de Chile, S.A.