SIGMA LITHIUM REPORTS 4Q24 AND FY24 RESULTS: STRONG MARGIN GENERATION, RECORD PRODUCTION AND SIGNIFICANT COST REDUCTIONS
1. Sigma Lithium reports strong growth in FY2024 production and revenues.
2. New Greentech plant construction is underway to double production capacity.
3. Operating costs have significantly decreased due to improved efficiencies.
4. The Company strengthened commercial strategies against market price fluctuations.
5. Updated mineral resource estimates show a 23% increase in potential supply.
The company's growth metrics and expansion plans suggest positive market performance, reminiscent of past upward price movements in lithium stocks during expansion phases.
How important is it?
The article contains proactive growth initiatives and solid financial performance indicators that are crucial for investor sentiment towards SGML, especially in a high-demand sector.
Why Long Term?
The construction of new facilities and increased production capacity will enhance market positioning over time, similar to outcomes observed with other lithium producers who expanded operational capacity effectively.
The Company will hold a conference call to discuss its financial results for the fourth quarter at 8:00 a.m. ET on Monday, March 31, 2025. Participating in the call will be Ana Cabral, Co-Chairperson and Chief Executive Officer, and Rogerio Marchini, Chief Financial Officer. To register for the call, please proceed through the following link Register here. For access to the webcast, please Click here.
SÃO PAULO, March 31, 2025 /PRNewswire/ -- Sigma Lithium Corporation (TSXV/NASDAQ: SGML, BVMF: S2GM34), a leading global lithium producer dedicated to powering the next generation of electric vehicles with carbon neutral, socially and environmentally sustainable lithium concentrate, reports its results for the full year ended December 31, 2024.
Ana Cabral, Co-Chairperson and CEO, said: "In 2024, Our continued focus on innovation and the introduction of advanced Greentech technologies, such as the new ultrafines reprocessing circuit, increased the overall efficiency of our industrial process. As a result, we significantly increased industrial lithium oxide concentrate production volumes, without a concomitant increase in mining footprint, thereby simultaneously creating value for both the environment and our shareholders."
"We are undergoing a transformational period as we accelerate our growth to become one of the world's leading integrated industrial-mineral lithium oxide producers. As we increase production volume, we see opportunities to further monetize economies of scale. We demonstrated operational resilience during the current lithium cycle, surpassing production targets, while maintaining one of the lowest cash cost positions in the industry. Our execution track record further reinforces our ability to deliver on our targets," she added.
The CEO concluded, "We are simultaneously constructing our second Greentech Industrial Plant to double our production capacity in 2025, while entering the planning stages for a third Greentech production line. This expansion, coupled with our disciplined approach to capital deployment and industry-leading low capex intensity, positions Sigma Lithium for sustainable long-term growth. As we look ahead, our unwavering focus on innovation, cost leadership, strategic partnerships, and environmental stewardship will continue to drive value creation for our stakeholders."
Table 1. Summary of FY 2024 and 4Q24 Key Operational and Financial Metrics
Production and Sales
Unit
FY2024
4Q24
Production Volumes
240,828 tonnes
77,034 tonnes
Sales Volumes
236,811 tonnes
73,900 tonnes
Financial Performance
Sigma Lithium reported revenues of US$151.4 million for the FY24. Revenues for the FY24 include non-cash provisional price adjustments for the shipments realized in 2023 in the amount of US$29.2 million...
Costs and FY25 Guidance
The Company reported cost of sales of US$119.7 million or US$506/t of sold products for the FY24...
Balance Sheet & Liquidity
As of December 31, 2024, the Company's cash and cash equivalents totaled US$45.9 million...
Phase 2 Expansion and CAPEX Update
In April 2024, the Board of Directors announced a Final Investment Decision for the Company's Phase 2 Greentech Plant expansion...
Updated Technical Report
The Company filed an updated technical report for its 100% owned Grota do Cirilio lithium project supporting 22 years of operational life...
ABOUT SIGMA LITHIUM
Sigma Lithium (NASDAQ: SGML, TSXV: SGML, BVMF: S2GM34) is a leading global lithium producer dedicated to powering the next generation of electric vehicle batteries...
FORWARD-LOOKING STATEMENTS
This news release includes certain "forward-looking information" under applicable Canadian and U.S. securities legislation...
Financial Tables
The consolidated financial statements for the periods ended December 31, 2024 and 2023 were audited by the Company's independent auditor...
