AUS
NZ
UK
CA
USA
IND
Highlights
- Iofina reported a sixth consecutive year of revenue growth in FY23, with an 18.5% uptick in revenue compared to the previous year
- Iofina's crystalline iodine production grew by 15.5% year-on-year
- FY24 EBITDA guidance for Iofina lies in the range of US$ 8.5 to US$ 9 million.
Iofina PLC (LSE: IOF) is a company listed on the FTSE AIM All-Share index, specialising in exploring and producing iodine, along with manufacturing specialty chemical derivatives.
In FY23, Iofina posted a notable increase in revenue, growing approximately 18.5% compared to the previous year. This was the company’s sixth consecutive year of revenue growth. The company also saw a substantial uptick in production, with a year-on-year growth of about 15.5%, rising from 107.1 metric tonnes (mt) in Q1 FY23 to 123.7 mt of crystalline iodine in Q1 FY24.
In the first half of FY23, the company posted a higher current ratio of 2.78x compared to the industry median of 1.96x and a higher net margin of 14.7%, versus the industry median of 6.5%.
Recent business update
As per the company’s latest update dated 16 April 2024, Iofina has produced 123.7 mt of crystalline iodine from its six IOsorb® iodine plants in Oklahoma. The company anticipates the spot price of iodine to remain stable in the mid to upper sixties per kg in Q2 FY24.
Company outlook
Iofina is expecting its IOsorb® iodine plant, IO#10 to be operational in Q3 FY24, with an estimated production of 100-150 mt of crystalline iodine per annum.
The company is also expecting increased production in H1 FY24. Iofina Resources anticipates production of between 275 and 295 metric tons of crystalline iodine in the first half of fiscal year 2024 from its six operating plants, surpassing 241.5 metric tons produced in the same period of fiscal year 2023.
FY24 EBITDA guidance for the company lies in the range of US$ 8.5 to US$ 9 million.
Top 10 shareholders
Iofina’s top 10 shareholders collectively form around 41.12% of the total shareholdings. Sneller (Richard) and David John and Monique Newlands hold maximum stake in the company at around 19.09% and 7.47%, respectively.
Stock performance
The stock price of Iofina has declined by ~0.01% in the last one month and it has decreased by ~21.57% over the last 6 months. Moreover, the stock has a 52-week low and high price of GBX 18.68 & GBX 38.00, respectively. It is currently trading below the average of 52-week high-low.
Note 1: Past performance is not a reliable indicator of future performance.
Note 2: The reference data for all price data, currency, technical indicators, support, and resistance levels is 03 May 2024. The reference data in this report has been partly sourced from EODHD/Others.
