Sociedad Química y Minera (SQM) Q3 2022 Earnings Call Transcript

For the period ending September 30, 2022

November 17, 2022 10:00 a.m. ET

Prepared Remarks

Questions and Answers

Call Participants

Prepared Remarks:

Operator

Good morning, and welcome to the SQM Third Quarter 2022 Earnings Conference Call. All participants will be in a listen-only mode. [Operator Instructions] After today’s presentation, there will be an opportunity to ask questions. [Operator Instructions] Please note, this event is being recorded.

I would now like to turn the conference over to Kelly O'Brien, Head of Investor Relations. Please, go ahead.

Kelly O'Brien

Good morning. Thank you for joining SQM's earnings conference call for the nine months ended September 30, 2022. This conference call will be recorded and is being webcast live. Our earnings press release and our presentation with a summary of the results have been uploaded to our website where you can also find a link to this webcast.

Speaking on the call today will be Ricardo Ramos, CEO; and Gerardo Illanes, CFO; Felipe Smith, Senior Commercial Vice President of Lithium and Pablo Altimiras, Executive Vice President of Iodine and Nitrates, will be available to answer any questions.

Before we begin, let me remind you that, statements in this conference 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 is defined under federal securities laws.

Any forward-looking statements are estimates, reflecting the best judgment of SQM based on currently available information and involves a number of risks, uncertainties and other factors that could cause actual results to differ materially from those stated in such statements, including our ability to successfully implement the sustainable development plan, risks, uncertainties and factors that could affect the accuracy of such forward-looking statements are identified in our public filings made with the United States Securities and Exchange Commission and in our earnings release issued last night. And these forward-looking statements should be considered in light of those factors. We assume no obligation to update such statements, whether as a result of our new information, future developments or otherwise, except, as required by law.

I now leave you with our Chief Executive Officer, Ricardo Ramos.

Ricardo Ramos

Thank you, Kelly. Good morning, and thank you for joining the call today. We are very pleased with the results we published. These results were influenced by positive market conditions in iodine and lithium, where we saw record high prices. During the first nine months of the year, lithium represented 77% of our gross profit. This success did not happen overnight. For decades, we have a belief in the lithium market and that enthusiasm has only grown in recent years.