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

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