Sociedad Quimica Y Minera de Chile (SQM) Reports Q4 EPS of $0.30
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Sociedad Quimica Y Minera de Chile (NYSE: SQM) reported Q4 EPS of $0.30, versus $0.26 reported last year.
SQM's Chief Executive Officer, Patricio Contesse, stated, "During 2014, we were impacted by lower prices in the iodine market; prices fell over 20% during 2014 when compared to 2013. Despite this lower pricing environment, we remain confident in our strong competitive position that has been reinforced by our cost reduction efforts and efficient operational processes. We will work to increase our market share in the future."
"Fertilizer markets were positive during 2014; we estimate that global demand in the potassium chloride market reached approximately 60 million tons, and we saw some price recovery in this market during the second half of 2014. In the specialty plant nutrition business, sales volumes increased over 3% while prices remained stable compared to 2013; this led to increased revenues in this business line. We expect this momentum to continue into 2015, when increased sales volumes are anticipated."
Mr. Contesse closed by saying, "Despite lower prices in iodine, nitrates and lithium during the fourth quarter 2014 compared to the fourth quarter 2013, our EBITDA margin increased to 36.9% from 35.5% percent during this same period. These numbers prove that our cost saving program has been successful, and we look forward to maintaining lower costs and remaining well-positioned to move quickly to meet any changes in market demand or market dynamics in all of the main businesses in which we sell."
For earnings history and earnings-related data on Sociedad Quimica Y Minera de Chile (SQM) click here.
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