Iofina PLC - London-based iodine producer - Expects 2022 earnings before interest, tax, depreciation and amortisation to be materially ahead of previous market expectations, at not less than USD10.5 million. Revenue for the full year remains in line with current guidance. For 2021, Ebitda amounted to USD6.9 million. Revenue was USD39.0 million. Says global demand for both iodine and iodine-based derivatives are strong throughout 2022, with "prices rising during H1 2022 and remaining high in H2 2022". Consequently, Iofina's sales margins in the second half are robust and combined with its improved iodine production, it delivered stronger second half profitability than previously anticipated.
Chief Executive Officer Tom Becker says: "2022 was a year of significant progress for Iofina. Solid iodine production performance, higher prices and strong demand for iodine, and the beginning of construction of our newest plant IO#9 are all examples of the positive momentum that the company is carrying forward into 2023."
Current stock price: 27.50 pence each, up 12% on Monday morning in London
12-month change: up 77%
By Xindi Wei, Alliance News reporter
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Iofina (IOF)