Sociedad Química y Minera de Chile S.A. (SQM), a mining company, Wednesday reported income before taxes of $587.4 million for the first half, significantly lower than $1.836 billion in the comparable period last year, primarily due to decline in the lithium business line.
The company posted net loss of $655.9 million or $2.30 per share, compared with net profit of 1.33 billion or $4.66 per share a year ago.
EBITDA, or earnings before interest, taxes, depreciation, and amortization declined to $836.7 million from $2.025 billion last year.
Adjusted EBITDA was $816.8 million, down from $1.964 billion a year ago.
Revenue for the period fell to $2.378 billion from $4.316 billion in the previous year, with revenues for lithium and derivatives declined 61 percent to $1.212 billion from $3.111 billion recorded a year ago.
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