Business
Final Results
Final Results.
About this update from Iofina Plc
[{"type":"text","content":"\n\n \n\n \n12 May 2025\n \nIofina plc\n(\"Iofina\", the \"Company\" or the \"Group\")\n(AIM: IOF)\n \n2024 FULL YEAR RESULTS \nRevenue up 9% to record $54.5 million\nIofina plc, specialists in the exploration and production of iodine and manufacturers of specialty chemical products, announces its audited full-year results for the 12 months to 31 December 2024 (the \"Period\").\n \nHigher sales of iodine derivatives and increased iodine production drive 9% revenue growth:\n· Revenue of $54.5m (2023: $50.0m); Seventh successive year of revenue growth\no Iodine derivatives sales increased by 31% to $16.9m (2023: $12.9m)\no Crystallised iodine sales of $24.7m (2023: $24.9m)\n· Iodine production increased by 74.8MT (13%) to 634.1MT\n· Gross profit of $13.2m (2023: $15.7m)\n· Adjusted EBITDA1 of $7.6m (2023: $10.8m)\n· Operating profit of $5.0m (2023: $8.6m)\n· Profit before tax of $4.8m (2023: $8.3m)\n \nRobust balance sheet and further increase in net cash position:\n· Cash of $6.8m at year-end up (2023: $6.5m)\n· Net cash increased by $1.7m from $1.2m to $2.9m\n \nInvesting for growth:\n· Capital investment into new iodine plants and Iofina Chemical processes grew to $9.5m (2023: $6.2m)\n· Signed an agreement for IO#11 in Q3 2024 and began construction in Q4 2024\n· Investment to upgrade the website has generated an increase in sales enquiries\n \n2025 so far:\n· Production of 124.1MT of crystalline iodine in Q1 2025 from Iofina's seven IOsorb® plants\n· Expect H1 2025 crystalline iodine production to be near 300MT\n· Demand for Iofina's crystalline iodine is strong\n· The iodine global spot price remains steadily above $70/kg, and prices are expected to stay at these levels into the second half of 2025\n· IO#11 is currently on schedule and expected to be operational in the first half of Q3 2025 \n· Potential sites for IO#12 identified, with construction targeted to commence by the end of 2025\n \n1Non-IFRS measure - please refer to the Consolidated Statement of Co...