By segment, billing for the lithium and derivatives business reached US$ 547.4 million, which represents a decrease of 66.7% compared to the first quarter of the previous year.

The Chilean lithium producer Sociedad Química y Minera (SQM) has recorded losses of US$ 869.5 million in the first quarter of 2024, compared to a net profit of almost US$ 750 million in the same period of the previous year.

The company's income has contracted 52.1% year-on-year, leaving it with a turnover of US$ 1,084 million.

These figures cast a shadow over the company's announcement Wednesday as an "Industry Leader" in Benchmark's prestigious Lithium Sustainability Index.

By segment, turnover for the lithium and derivatives business reached US$ 547.4 million, which represents a decrease of 66.7% compared to the first three months of the previous year. Sales of the specialty plant nutrition business fell 6% year-over-year and those of industrial chemicals plummeted 66.9%.

For its part, revenue from sales of other fertilizers was reduced by 50% compared to the previous year, and revenue from sales of iodine and derivatives grew by 0.2%, the only segment that has improved in the first quarter in terms interannual.

Meanwhile, sales costs have been reduced by 43.36% compared to the period between January and March 2023, falling to US$ 642.6 million.

The adjusted gross operating result (Ebitda) fell to US$ 403.6 million, 62.9% less than in the same period of the previous year. The Ebitda margin was 37.2%, which is equivalent to 10.8 percentage points less.

The general manager of SQM, Ricardo Ramos, has been satisfied with the positive year-on-year result in sales volumes in all the company's business lines.