SQM Reports Earnings for the First Nine Months of 2010

SANTIAGO, Chile, Nov. 23, 2010 /PRNewswire-FirstCall/ -- Sociedad Quimica y Minera de Chile S.A. (SQM) (NYSE: SQM; Santiago Stock Exchange: SQM-B, SQM-A) reported today earnings for the first nine months of 2010 of US$276.3 million (US$1.05 per ADR), an increase of 6.5% with respect to the same period of 2009, when earnings totaled US$259.4 million (US$0.99 per ADR). Gross Margin reached US$454.4 million (34.3% of revenues), 11.5% higher than the US$407.5 million (38.7% of revenues) recorded during the first nine months of 2009. Revenues totaled US$1,324.7 million for the first nine months, representing an increase of 25.9% over the US$1,052.2 million reported in the same period of 2009.

The Company also announced a year-over-year earnings increase of 11.3% for the third quarter of 2010, reporting quarterly net income of US$94.8 million (US$0.36 per ADR) compared to the 2009 figure of US$85.2 million (US$0.32 per ADR). Gross Margin for the third quarter reached US$151.2 million, 15.3% higher than the US$131.1 million recorded for the same period of 2009. Revenues totaled US$459.5 million, an increase of approximately 19.7% with respect to the third quarter of 2009, when revenues amounted to US$383.8 million.

Patricio Contesse, SQM's Chief Executive Officer, stated, "We have continued to observe positive demand recovery across all of our business lines as markets move passed 2009 lows. The market uncertainty that characterized 2009 has dissipated and consumer confidence has returned to markets, as the global economic situation improves."

Mr. Contesse continued, "During the first nine months of 2010 demand for all of our business segments has recovered more robustly than initially expected, reflecting the strong, underlying fundamentals in each market. We anticipate that this momentum will continue during the remaining months of the year and through next year, and considering that the Company is in a unique position to capture growth in each of its markets, we remain optimistic about the long term prospects for SQM."

For the complete version of this press release, please visit our Web site: www.sqm.com.

SQM is an integrated producer and distributor of specialty plant nutrients, iodine and lithium. Its products are based on the development of high quality natural resources that allow the Company to be leader in costs, supported by a specialized international network with sales in over 100 countries. SQM's development strategy aims to maintain and strengthen the Company's world leadership in its three core businesses: Specialty Plant Nutrition, Iodine and Lithium.

Statements in this press release concerning the Company's business outlook, future economic performances, anticipated profitability, revenues, expenses, or other financial items, anticipated cost synergies and product or service line growth, together with other statements that are not historical facts, are "forward-looking statements" as that term is defined under Federal Securities Laws.

Any forward-looking statements are estimates, reflecting the best judgment of SQM based on currently available information and involve a number of risks, uncertainties and other factors that could cause actual results to differ materially from those stated in such statements. Risks, uncertainties, and factors that could affect the accuracy of such forward-looking statements, are identified in the public filing made with the Securities and Exchange Commission, and forward-looking statements should be considered in light of those factors.

SOURCE SQM

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