Business
Itafos Reports Outstanding Operational and Financial Q4 and FY 2024 Results
HOUSTON, March 19, 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 Q4 and FY 2024 Results\n\n\n\n HOUSTON, March 19, 2025 (GLOBE NEWSWIRE) -- Itafos Inc. (TSX-V: IFOS) (the “Company”) today reported its Q4 2024 and full year 2024 financial results and provided a corporate update. The Company’s financial statements and management’s discussion and analysis for the three months and year ended December 31, 2024 are available under the Company’s profile at\n \n www.sedarplus.ca\n \n and on the Company’s website at\n \n www.itafos.com\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, “2024 marked another year of outstanding performance from both operational and financial perspectives. Conda production exceeded 2023 production levels, despite an additional 12 days of planned maintenance and at Arraias sulfuric acid production increased by 26.6% compared to last year. This was achieved while maintaining our culture of safety, recording a TRIFR for the year of 0.89. These factors allowed us to record revenues of $491.2 million and adjusted EBITDA\n \n 1\n \n of $159.5 million, increases of 6% and 21% compared to 2023, respectively.\n \n\n Looking forward, we expect our mine life extension program at Husky 1 / North Dry Ridge to deliver first ore shipments to the Conda plant in the second half of 2025. This year we have actively commenced work on identifying incremental opportunities to extend our mining operations in Southeast Idaho to take advantage of the abundant phosphate resources in the basin where we operate.  These nearfield opportunities have the potential to provide further utilization of the H1/NDR infrastructure.\n \n\n We are committed to creating long-term shareholder value, and following the sale of the Araxa project we are pleased to announce that our Board of Directors has approved a CAD$0.05 per share special dividend payable on April 25, 2025 with a record date of April 9, 2025. The Board continues to evaluate all alternatives to return capital to our shareholders considering current fertilizer markets, future capital requirements and the overall financial liquidity of the company. The special dividend has been made possible by the sale of our non-core Araxa asset and our ...