Iofina has announced a seventh year of revenue growth in year end results announced today. Although revenues rose to $54.5m (up from $50.0m), profitability was impacted by the renegotiation of two brine water supply contracts which together with logistical delays in December pushed around $2m of confirmed sales into 2025. That said, a strong balance sheet with nearly $7m of cash , a new plant under constuction and due to be up and running in 2025, as well as a hugher iodine spot price, management are optimistic about the near term prospects for the group.

Commenting, President and CEO, Dr. Tom Becker, stated:

“In 2024, Iofina achieved record revenues for the seventh straight year. Profitability was somewhat impacted by the renegotiation of two brine water supply contracts as well as logistical delays in December that pushed $2m of confirmed sales into 2025. However, good progress was made in increasing iodine production by 13% to 634MT with the additional output from the Company’s newest plants. The Company also benefitted from higher average selling prices in the second half of 2024 as the spot iodine price increased.

“The Company continued to execute its growth strategy with the support of strong cash flow and completed its latest iodine plant, IO#10. The robust levels of sales of crystalline iodine mirrored those achieved in 2023, whilst sales of our iodine derivatives products increased by $4m. Further investment in product R&D was made during the year to support customer demand, with new products being introduced in 2025, including a new iodine-based animal feed additive.

“Moving into 2025, our investment for growth continues and we are pleased to report that IO#11 is on track to be operating in the first half of Q3 2025. This will become our eighth IOsorb® plant in operation and our third new plant in three years, hitting our target of adding a new plant each year.

“Since reporting our Q1 2025 update, we are pleased to confirm that brine water flows to our facilities are at expected levels after the prolonged effects of extreme winter conditions. We continue to work with our oil and gas partners to maximise the amounts of brine to our plants. We expect greater flows and higher iodine production efficiencies during the warmer months and are on track to produce about 300MT of crystalline iodine in H1 2025. At the same time, iodine spot prices have risen since 2024 and look set to remain above $70 per kilogram throughout 2025, which will support more profitable sales with Iofina continuing to sell all the iodine it is currently producing.”

News in full

In the video below, President & CEO Tom Becker outlines iofina’s business including the increasing global demand for iodine