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Iofina plc ( (GB:IOF) ) has issued an update.
Iofina plc announced a record iodine production in 2024, achieving 634.1 metric tonnes, marking a 13.4% increase from the previous year. Despite logistical issues delaying $2 million in sales to January 2025, thus affecting their 2024 EBITDA, the company remains optimistic about 2025 with iodine prices above $70/kg and the commencement of construction for its IO#11 plant. The company anticipates higher production in 2025 and is making progress on plans for IO#12, showcasing a strong growth trajectory.
More about Iofina plc
Iofina plc is a vertically integrated company specializing in the production of iodine and manufacturing of specialty chemical products. It is the second largest producer of iodine in North America and operates through its entities Iofina Resources and Iofina Chemical. Iofina Resources focuses on developing and operating iodine extraction plants using its WET® IOsorb® technology, while Iofina Chemical produces high-quality halogen specialty chemicals.
YTD Price Performance: 6.58%
Average Trading Volume: 177,874
Technical Sentiment Consensus Rating: Hold
Current Market Cap: £38.85M
For detailed information about IOF stock, go to TipRanks’ Stock Analysis page.
