Earnings Call Summary | Sigma Lithium(SGML.US) Q4 2023 Earnings Conference
Earnings Call Summary | Sigma Lithium(SGML.US) Q4 2023 Earnings Conference
The following is a summary of the Sigma Lithium Corporation (SGML) Q4 2023 Earnings Call Transcript:
以下是西格玛锂业公司（SGML）2023年第四季度财报电话会议记录摘要：
Financial Performance:
财务业绩：
Sigma Lithium reported revenues of $135 million in 2023 with 102k tons of material shipped at an average realized price per tonne of $1,321.
Operating margins were strong at 67%-63% due to costs at the plant and at Port of Vitoria being $427 per tonne and $485 per tonne respectively.
The company delivered an accounting EBITDA of $24 million, which after adjustment for non-recurring and non-cash items, increased to $49 million, and ended the year with a cash position of $109.4 million.
They reported non-recurring expenses and an estimated run rate cash operating margin per tonne of $584, projecting to generate $158 million estimated cash operations in 2024 and $249 million mid-cycle.
Net cash position dropped by approx $30 million in Q1, but unutilized trade lines left them with a net position of $110 million in long-term debt plus unused trade finance lines.
西格玛锂业报告称，2023年收入为1.35亿美元，出货量为10.2万吨，平均每吨已实现价格为1321美元。
由于该工厂和维多利亚港的成本分别为每吨427美元和每吨485美元，营业利润率强劲，为67％-63％。
该公司的会计息税折旧摊销前利润为2400万美元，经非经常性和非现金项目调整后，增至4900万美元，年底现金状况为1.094亿美元。
他们报告了非经常性支出，预计每吨的现金运营利润率为584美元，预计2024年将产生1.58亿美元的现金业务，周期中期将产生2.49亿美元的现金业务。
第一季度净现金状况下降了约3000万美元，但未使用的贸易额度使他们的长期债务净头寸为1.1亿美元，外加未使用的贸易融资额度。
Business Progress:
业务进展：
Sigma Lithium expanded their production capacity from 270k tons of lithium concentrate per year to 520k tons, becoming the fourth largest mineral industrial lithium complex globally.
The company successfully delivered Phase 1 on budget and on time, and increased project life to over 25 years.
Sigma has initiated the construction to double production capacity to 520k tonnes per year, which can be started immediately with the available cash.
Their strategic partnership with Glencore provides them with significant trade finance and marketing/commercial expertise.
Looking forward, the company has plans to go into lithium sulfate production using Brazil's low-cost energy resources and has plans to reduce operating costs as Phase 2 ramps up.
Sigma's pricing for Q4 was comparable to Q1, despite some fluctuations. The company is on track to become the third largest lithium industrial mining complex in hard rock.
Sigma Lithium 将其产能从每年 27 万吨锂精矿扩大到 52 万吨，成为全球第四大矿业工业锂综合体。
该公司成功按预算按时交付了第一阶段，并将项目寿命延长至25年以上。
西格玛已启动建设，将产能翻一番，达到每年52万吨，可用现金可以立即开始。
他们与嘉能可的战略合作伙伴关系为他们提供了重要的贸易融资和营销/商业专业知识。
展望未来，该公司计划利用巴西的低成本能源生产硫酸锂，并计划随着第二阶段的推进降低运营成本。
尽管有一些波动，但西格玛第四季度的定价与第一季度相当。该公司有望成为硬岩领域第三大锂工业采矿综合体。
More details: Sigma Lithium IR
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