Iofina, specialists in the exploration and production of iodine and manufacturers of specialty chemical
products, announces its audited final results for the 12 months to 31 December 2019 and Notice of its
2020 Annual General Meeting. Paper copies of these documents, together with a Form of Proxy, are
being mailed to shareholders today, and will be made available on our website at

2019 saw the Group achieve its second consecutive year of record crystalline iodine production and
record EBITDA. These milestones were hit all while reducing debt through the completion of a
successful fundraise, which not only allowed the Company to focus on growing its core business of
iodine production but also expand into the emerging CBD space. Construction began on IO#8 plant
during the period, which was subsequently completed on time during Q1 2020 and on budget,
incorporating many design improvements and improved process flow.

2019 Financial Highlights:
• Revenue increased by 22% from $24.0m to $29.2m
• Gross profit increased by $1.9m (31%) from $6.3m (26% of sales) to $8.2m (28% of sales)
• EBITDA improved by $1.8m (67%) from $2.6m to $4.4m
• Operating profit increased by $1.7m (164%) from $1.1m to $2.8m
• Finance expense decreased from $3.1m to $2.7m
• Profit before tax was $0.6m compared to a loss before tax of $1.1m
• An equity fundraise generated net proceeds of $8.3m
• Debt balances reduced from $25.6m to $18.2m through repayment and equity conversion
• There was an investment of $0.9m into a hemp seeds production company

Download the Entire Press Release Here

Translate »