Sustained demand and a strong Iodine spot price accelerated sales and profits in 2022: Revenue increased by 8% to
Gross profit increased by 47% to
Adjusted EBITDA improved by 65% to
Operating profit increased by 85% to
Profit before tax increased by 96% to
Strong balance sheet and further reduction in net debt:
Cash of
Net debt reduced from
Investing for growth: Capital investment into chemical and iodine plants was
Commenced site negotiations for future IOsorb plants in the Period.
2023 so far: Production of 107.1 MT of crystalline iodine in Q1 from Iofina's five IOsorb plants
The iodine global spot price remains steady at
IO9 is currently scheduled to be operational before the end of Q2 2023
Commenting, President and CEO, Dr.
Having commenced the construction on IO9 in Q4 2022, we remain on track to have this in operation by the end of Q2 2023. The new plant is expected to add
2023 has started well in terms of production from our existing plants and corresponding sales, with the market remaining strong and the Company on track to meet its H1 production targets. We look forward to confirming the completion and switch on of IO9 soon and updating shareholders on our further progress.'
Investor Presentation
Iofina will be hosting a presentation for retail investors via the
Contact:
Dr.
Tel: +44 (0)20 3006 3135
About Iofina
LEI: 213800QDMFYVRJYYTQ84
ISIN: GB00B2QL5C79
Iofina Resources
Iofina Resources develops, builds, owns, and operates iodine extraction plants using Iofina's WET IOsorb technology. Iofina currently operates five producing IOsorb plants in
Iofina Chemical
Iofina Chemical has manufactured high quality halogen speciality chemicals derived from raw iodine, as well as non-iodine-based products. Iofina Chemical will be celebrating its 40th anniversary in 2023 as a preeminent halogen-based specialty chemicals company.
(C) 2023 Electronic News Publishing, source