Iofina (IOF) Q1 2025 TU earnings summary

Executive summary

• Produced 124.1 MT of crystalline iodine in Q1 2025, slightly up from 123.7 MT in Q1 2024, despite severe winter weather impacting operations.

• All produced iodine sold amid strong demand and spot prices above $70/kg, exceeding H2 2024 averages.

• IO #11 plant construction progressing on schedule, expected to be operational in Q3 2025; IO #12 in planning phase.

Financial highlights

• Q1 2025 iodine production was lower than anticipated due to extreme cold, leading to a revised H1 2025 production forecast of ~300MT, down from 320–355MT.

• Brine water flow, critical for production, improved in March but not fully recovered to Q4 2024 levels.

Outlook and guidance

• H1 2025 iodine production expected to be closer to 300MT, with further updates to be provided in the year-end 2024 financial report.

• Iodine prices expected to remain strong throughout 2025, supporting positive business outlook.

• IO #11 plant on track for Q3 2025 start; IO #12 construction anticipated by end of 2025.