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Itafos Reports Outstanding Operational and Financial Q1 2025 Results
HOUSTON, May 07, 2025 (GLOBE NEWSWIRE) -- Itafos Inc. (TSX-V: IFOS) (the “Company”)...
About this update from Itafos Inc
[{"type":"text","content":"Itafos Reports Outstanding Operational and Financial Q1 2025 Results\n\n\n\n HOUSTON, May 07, 2025 (GLOBE NEWSWIRE) -- Itafos Inc. (TSX-V: IFOS) (the “Company”) today reported its Q1 2025 financial results and provided a corporate update. The Company’s financial statements and management’s discussion and analysis for the three months ended March 31, 2025 are available under the Company’s profile at\n \n\n www.sedarplus.ca\n \n\n and on the Company’s website at\n \n\n www.itafos.com\n \n\n . All figures are in thousands of US Dollars except as otherwise noted.\n \n\n\n CEO Commentary\n \n\n\n Chief Executive Officer David Delaney commented, “the Company recorded another outstanding quarter from an operational perspective, with production volumes exceeding prior year levels at both Conda and Arraias. This was achieved without incurring a recordable incident at the Company. Our continued emphasis on safety and operational efficiency directly led to another strong quarter of financial results including revenue growth of 6 percent on a year-over-year basis and adjusted EBITDA\n \n 1\n \n of over $39 million despite meaningfully higher non controllable input costs.\n \n\n We continue to make progress on our mine life extension program at Husky 1 / North Dry Ridge (“H1/NDR”) in Idaho and reiterate our expectation to deliver the first ore shipments to the Conda plant in the second half of this year. Uncertainty surrounding the US tariff policy and international trade flows have created volatility in commodity prices resulting in market prices increasing in Q2 2025 to date. These higher prices coupled with constructive long-term supply and demand fundamentals in phosphate markets continue to be positive for the performance of the Company. In the near term, higher product prices are likely to be largely offset by higher non controllable input costs (particularly sulfur) impacting gross margin realizations.\n \n\n During Q1 2025, the Company achieved a significant milestone when our net debt\n \n 1\n \n was reduced to below $0 helping us weather the near-term market uncertainties and allowing us to continue to fund our capital requirements.\n \n\n The Company was also pleased to announce the successful closure of the Araxa project sale during the quarter and the declaration of ...