12 May 2025
Iofina plc
(“Iofina”, the “Company” or the “Group”)
(AIM: IOF)
2024 FULL YEAR RESULTS
Revenue up 9% to record $54.5 million
Iofina plc, specialists in the exploration and production of iodine and manufacturers of specialty chemical products, announces its audited full-year results for the 12 months to 31 December 2024 (the “Period”).
Higher sales of iodine derivatives and increased iodine production drive 9% revenue growth:
Robust balance sheet and further increase in net cash position:
Investing for growth:
2025 so far:
1Non-IFRS measure – please refer to the Consolidated Statement of Comprehensive Income for calculation
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.”
Enquiries:
Dr. Tom Becker
CEO & President
Iofina plc
Tel: +44 (0)20 3006 3135
Nomad & Broker:
Henry Fitzgerald-O’Connor/Harry Rees
Canaccord Genuity Limited
Tel: +44 (0)20 7523 8000
Media Contact:
Charles Goodwin/Shivantha Thambirajah/Zara McKinlay
Yellow Jersey PR Limited
Tel: +44 (0)7747 788 221/+44 (0)7983 521 488
About Iofina:
Iofina plc (AIM: IOF) is a vertically integrated company that specialises in the production of Iodine and the manufacturing of specialty chemical products. Iofina is the second largest producer of iodine in North America and operates the manufacturing entities Iofina Resources and Iofina Chemical.
LEI: 213800QDMFYVRJYYTQ84
ISIN: GB00B2QL5C79
Iofina Resources
Iofina Resources develops, builds, owns, and operates iodine extraction plants using Iofina’s WET® IOsorb® technology. Iofina currently operates seven producing IOsorb® plants in Oklahoma and is consistently using technology and innovation to improve and expand its operations.
Iofina Chemical
Iofina Chemical has manufactured high-quality halogen speciality chemicals derived from raw iodine, as well as non-iodine-based products. Iofina Chemical celebrated its 40th anniversary in 2023 as a preeminent halogen-based specialty chemicals company.