AT A GLANCE: Lithium producer Albemarle sales earnings jump in Q1 on greater demand

A summary of United States-based lithium producer Albemarle’s results for the first quarter of 2021, as stated in its quarterly report published on Wednesday May 5.

In brief

  • The company attributed the 17.8% annual growth in net lithium sales in the first quarter to higher sales volumes after some customers accelerated orders under long-term deals.
  • It expects sales volumes to be marginally higher during 2021 compared with 2020 due to productivity improvements.
  • Total sales guidelines for 2021 across the lithium, catalysts and bromine divisions is is $3.2-3.3 billion.
  • Production capacity expansion projects are under way and are due to be finalized by the end of this year. This will allow the company to double its nameplate capacity to 175,000 tonnes of lithium carbonate equivalent by 2022.

Key figures for lithium division, Q1 2021
(year-on-year change)

Net sales
$279 million, up 17.8% from $236.8 million

Adjusted earnings before interest, taxes, depreciation and amortization (Ebitda)
$106.4 million, up 35.37% from $78.6 million

What to read next
Access the replay and read the five key takeaways from our recent webinar ‘Addressing risks in the European and US battery and EV markets’
Despite high lithium prices and supply chain issues, EV uptake in the UK and demand for lithium-based EV batteries continues to increase
Weakening sentiment in the domestic Chinese nickel sulfate market has pushed payables for nickel mixed-hydroxide precipitate (MHP) lower
Muthu Krishna, battery cost modeller at Fastmarkets, discusses the impact of high battery raw material prices and the increasing popularity of LFP
There is strong political will and demand growth supporting Europe’s natural and synthetic graphite supply chains, but gaining permits for new projects will be the biggest stumbling block
Strong growth in battery materials demand in the US is expected from the introduction of the Inflation Reduction Act (IRA) and the country’s strides in the energy transition
We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
Proceed