Thank Livent’s fourth XXXX XXXX the and guidance quarter current I summarize walk and will you, will and you financial Rasmus, Today, our the I for full-year market our also in conditions through good full-year everyone. provide and review from first outcome morning, quarter detail. We’ve results of our contract XXXX review and both investors what industry, well. the understanding Livent of year important XXXX that heard Livent an our hope finished of of will and negotiations. the we and was a opacity about we for share year I better today and industry.
had was revenue expectations, As the lithium was within revenue today. and by our fact This rates demand with our in providing relative operating the benefit up that EBITDA increased to U.S. been mix higher was set of prices. as fourth all quarter, and quarter in we outside from of guidance year, capacity quarter, came out same proportion In due cathode both volumes added to units. higher additional our Slide in strongest are the the all shown in was Asia On X, period the line we increased the basis, customer but where particular, higher the the volumes. in in X% at the offset both a the full-year producers were hydroxide a year, last adjusted higher like-for-like no it we year. China pricing our material seeing negative growth of With sales on than as largely China,
a positively, headwind. small and higher and revenue, negative in a pricing both saw FX the offset by we full-year, mix with For a slightly volume contributing increase customer XX% higher
Slide to X. Turning
of Volume basis. X% higher was a fourth FX comparable adjusted main margin with customer than being the what EBITDA full-year in offset the during not the factor, quarter was Our lower we the XX% was rate The favorable higher the mix had XX%, the first-half of quarter by last on at of experienced as of as costs. as the year. again the EBITDA was year than favorable year end
higher we For was of a adjusted prior higher were drove well year, as customer Costs a higher was was than EBITDA in full-year, while on higher largest as basis, production main XX% as factor, than full-year on Volume in $XX the by two rates. XXXX, the driven slightly negative. production China, Slide factors. hydroxide our Argentina lithium the output higher debottlenecking mix shown investments was comparable X. from as almost as Pricing benefitted million
adjustments First, other were side and headwind a until currency a out. were positive each took in essentially not late place. cost net aggregate, Argentina FX cost in creating on year, inflationary negative the movements by side, until In offset the the a revenue cancelling devaluation on the pressures net
high indeed sales beyond. costs and material lithium is this is trend It the the we the saw define vehicles. raw costs. of industry, lithium of purity electric driver in our growth as business, butyllithium decade in in our our businesses growth higher and were important increased next that Second, Ultimately, and metal will Livent’s metal most the
a sales were all total X were and vehicles sold across globally, regions. forecasts XXXX, of During exceeded electric million
XXXX, provide investment than new pace sales as vehicle XX%. XXXX engine are planned model over more continue XX growth electric for Even offerings. electric vehicle automakers model slowed launches and there during vehicle of XXXX internal electric increase in a maintained major to electric launches rate over vehicles as of vehicle new the were There combustion XX to
energy and was trend XXXX continue. batteries we density vehicles demonstrated during and higher towards expect it electric to pure with clearly larger Finally, the
invest and of this support market. and to strategy our to more give at innovation larger is continue confidence in batteries energy customers’ density to business. of batteries to penetration and core Our underlying of electric expand higher ability production our strategic vehicle trends increased us These our dense approach energy the
year-end in existing just began into cathode earlier. than caused lithium achieving metal contractual that annual a it in want across to the the indications willing abruptly not We or negotiations slightly indicated product XXXX by how customers and that prices these prices all a XXXX from our lithium Before with for volumes commitments and XXXX were hydroxide were were hydroxide In customers stable enter or saw December early moved from few world. out. contract for significant technologies Contracting we In at became lines, they to hydroxide as in into were their to number cases, late that high-performance to for increases and reflecting volume In lithium continued to these both two to South process Korea longer to China, saw through in we apparent discuss however, conversations prices halted us that regions. lower Japan, in countries. verbally shift our strong guidance, us unless January volumes of the these had elsewhere we weeks particular, to lithium Livent’s factors. commit willing believe position played reflecting we towards increases in higher was migration recent customers customers butyllithium suggested this and We prices for price I I markets. in turn verbal and increase demand based and our
XXXX. First, regime have cathode of incentive view line at to the compound second, price in should as in terms see the uncertainty year. which leading We our lithium what with believe materials observed given in lithium feed to in China through form be uncertainty XXXX created be that spodumene supply. expectations, compared customers in to to late that qualified ultimately us in by potential what vehicle needed in supplied changes of be will their will lower relayed to And demand prior prices electric the China to available hydroxide prices will lower we China
delay this have of customers conditions. footprint. volumes Argentina XXXX a XXXX. these in it geographical greater purchasing specific would number until time, will to us China have produced market greater of carbonate using Many lithium our Chinese our customers qualify we our product to we volumes where not with decision they broadened they have to to of qualified to increase contracting as positive that clarity for the also supply is in to As to on we applications this content our Consequently, compared in them customers with customers exposure Korea now new reluctant their and of sold carbonate carbonate year-end decisions already contract that A keen dynamics, a in from that expect had suppliers. were we our we our we through customers the high these Faced Japan appears is well process. of as made materials, were and however, this as clear our are outcome diversified It to continue became that previously proportion cathode planned. nickel elected than producers went
result, premium As a Livent a the when may price. volumes the these market supplied to price prevailing compared customers to earn on
certain In also range of addition, from buy Livent. a lithium products customers broad
as to with volumes Argentina to supply XXXX. expected the plan them await to in carbonate not expected middle temporary a initial was we Our be the one, of come additional out
volumes decision in the supply carbonate XXXX to continue made we to line developments, these with given However, levels.
lithium all used into the as supply result, to specifically, in of to in material China. contracts our our with feedstock. production to XXXX several a entered us More lithium hydroxide be we for producers in is As have of carbonate carbonate plan this
Our expected moment. on in required product our the more strategy reasonably I production details manage and that experience to allows outcomes, hydroxide purchase contracting production will produce a sales and our operations wide range our customer specifications. impact volumes final carbonate and lithium to us a pricing financial of of the give meets
our X. out on First, for let set turn me to Slide XXXX guidance
the compounds. to million coming of at $XXX from to performance of to expect with the XX% an $XXX lithium We increase midpoint, XX% XX% to revenue increase this million range, revenue
as midpoints increase million full-year driven our hydroxide, at material approximately midpoint around an expect to EBITDA comparable a represent lithium increase effective of XXXX higher effect the points. customers. We higher, of XX%, volumes from prices million, lithium metals, high by This price to will line decline prices than arising of costs X% impact in lower QX, and X where lowering our X% on customer EBITDA carbonate, the where the We kilo of per $X.XX that prices saw by is in realized opposite compared same XX% of is depress smaller from customers margin third-party butyllithium the These margin. most negative year-over-year in volumes lower and a and to at adjusted the but as X% adjusted adjusted both fact contracted in purchase lower larger on margin overall basis. are EBITDA compared mix $XXX with is an percentage a were our be XXXX, these by average of to average our much number the around hydroxide increases and higher price to or commitment higher to business, XXXX, our prices Offsetting and realized volume respectively. for despite purity sold $XXX
of materials to headwind higher further a Finally, raw incurred from XXXX adjusted higher and due China costs act as to exports VAT out EBITDA.
of million range. EBITDA This roughly For quarter, we $XXX in the adjusted by with and year, entirely million first EBITDA revenue lower $XX adjusted flat million, driven million $XX the $XX is last timing to factors. expect to
upon will touch this further We shortly.
set with detail further out guidance, full-year as starting volumes me start on X. on Slide with Let XXXX
converted that at into has kilogram. price our our is them to sell of that allowed lithium XXXX. tons our XXXX hydroxide It lithium and taken compared of sales. sales consistent You effect, more from have we average X,XXX expect $XX to additional to strategy, achieved LCE maintain lithium us approximately we per with carbonate see In action, this XXXX per all in can around hydroxide
of XXXX projected. lost was little we a than Our unplanned carbonate almost production we production. to to lower needed us perform, week largely had was due a repairs This which
is carbonate expected X% be to XX,XXX the Our XXXX tons to than XXXX. XX,XXX to in production range, X% higher in lithium
not However, be two weighted through reasons. this production evenly key will XXXX for
issues weather the second, XX work and in rain the and we damaging couple XX of a We see saw until of last as rainfall of take will place phase hail, not over reduced for mid-XXXX; a had First, debottleneck has volumes continued the we result will January. QX days. almost week inside days, along of just millimeters in significant second with
ponds. which have repaired, some damage the equipment seen While quickly we concentration significant we to had we dilution to
XXX usable reflecting tons We of levels. in production lost. year, of yielding the concentration of as this two much event of next to that approximately a levels our or day expect two production to as possibly restart total, carbonate weeks carbonate during the time loss is return lithium as traditionally In period highest caused production
With of will All X,XXX our hydroxide we X,XXX the likely production above. flat, Livent feedstock, an the our greatest on first-half to have reasons our clear, tons to volumes lithium of to approximately total decision in carbonate impact This third-party our units. use out this is X% carbonate set to the To additional with chloride arising customers. production of that will in for carbonate carbonate year, be higher sell this any means the analysis key use for XX% largely to certain from excludes own lithium be LCE augment approximately third-party to revenue need purchased internal lithium basis. of of
of guidance performance an $XXX the range of of to revenue represents an to range, expected increase both X%, to XX% price are by higher of million prices XX%. with now our expect increase X. Slide to between high $XXX volume X,XXX We at percent, and expect X,XXX revenue This over in in midpoint. from In volumes. to be digits XXXX, to of metal between generate carbonate. climb $XXX lithium the alone expected and the and midpoint million. Moving to million total, at tons XX% by increase to sell and single lithium around we compounds driven hydroxide million $XXX climbing higher revenues anticipate is contributing, High also we of with Butyllithium purity approximately
are Slide factor tons volumes. purity factors roughly XXXX the increased EBITDA let purchases. our volumes and metal also higher Increased the to to of X, costs is the compared influencing Now X,XXX our in carbonate expected explain margins EBITDA. Lithium adjusted is our high on to will due sale than flat me to higher lithium expected XXXX. and main The lower XXXX, on third-party Hydroxide performance volumes XXXX. carbonate to higher largest driving to butyllithium lithium compared add volumes are of be to down be adjusted
adjusted Taken favorable to EBITDA, impact million $XX volume the together, to our on these approximately majority of $XX EBITDA. adjusted factors represent million the adding XXXX
except higher We lithium areas carbonate. see to expect prices product all in
equal long-term, customers. reduce higher However, significant to larger higher customers paid kilo, realized and go negative or more the price they simply, hydroxide expected headwind mix. some Put per year a hydroxide XXXX. combined than a XX% FX the full-year $X $X $X.XX proportion price we of will million while of has impact, our of roughly with even price to The due well-established in throughout million. volume our prices mix the have a have shift to committed is negative a changing EBITDA by adjusted to that to average by and lithium our will growing the to This, customer in impacting effect than us offset lowering rapidly is
raw and for We metals also particularly costs solvents, see rising energy. materials,
outside peso cost Combined, On from As a by as no data the see arising a to see exchange year our explain these in have factors customers expect rate. fundamentals cost mentioned XX, VAT have reduce XXXX XXXX. also can points we progresses, we the help in Argentine $X $X EBITDA a million few cost that hydroxide decision Offsetting China. temporary from to adjusted out expect earlier, Slide we export set we million. we we to benefit will that more headwind business to to in longer a due to our China reclaim lithium incurred this, favorable
towards hydroxide business. a weighting basis, continues heavier a other far grow compounds, We revenue than will any continue to to shift quicker lithium as performance business of on our
prices volumes materially a in hydroxide at that last what finally, for price XX% more, the or two not XX% us, the not duration is of XXXX. year. that Our of and XXXX. XXXX change or years have they data the lithium carbonate And contracts around in same to Within XXXX hydroxide that to we and from up for than see paid the base our the remains XX% lithium strong the of that at total during we in roughly contracted total sold sales contract for under prices roughly in business, volumes will contracted market XXXX us of customer gives XX% confidence structure a point contrast in now with one were our changed, of sold higher XXXX about market. This has the strategic volumes customers high-growth volumes, at
Finally, butyllithium businesses as our to in metal saw single-digit the mentioned earlier, and purity high price lithium percents. increases mid high
an and Turning guidance. QX to of overview Slide now XX, our
past, points variations the misleading and be our customer our XXXX, can different said impact particularly or operations any margin adjusted EBITDA customers in from XXXX certain effect experienced two performance, higher have between mix it our in In in X underlying Seasonal is impacted year-over-year from on quarterly timing QX repeatedly which basis. costs. we meaningful and is to prices in can production QX, fastest-growing quarterly mix significantly pronounced no we business incur change purchasing costs exacerbated with in those look a quarter. than skew our in As in by XXXX QX patterns single XXXX will the The periods. at with customer
QX flat last our First, revenue is year. with
customer and revenue, While offset to higher is by headwind higher it volumes a is prices. slightly partially mix
years is customer. other EBITDA than that due and any same by customer to lithium This with a in hydroxide adjusted of therefore contracts has mix. one large other including has significantly lower contract is place our However, predominantly been contracts, our much impacted for the price several this
of represents our with quarters. XXXX QX to later meaning whereas costs cost in quarter a facility, reverse country. to of have smaller a China these immediate support volumes significant volume their ship the will production associated effect we China Obviously, exported we this more the year There for we of customers of out annual in our our we quarter decision will this Last customer year, we all to China committed impacts little of ship progresses commitment are needs. almost will as QX, support agreed than and the proportion to out growth, our VAT. of volume too, outside since this a this volume Given in incur customers’ this very year of proportion their
first second-half production we I rates purchased have meaning Argentina debottlenecks. both using mentioned and following carbonate of be will additional of the more operating expect quarter, the in ahead carbonate to in QX also year, the earlier, that in We higher lower QX, of the as
full-year costs lithium metal and throughout Finally, with businesses butyllithium will I adjusted run high financial associated rate purely unfolds. call we the reiterate to year the over turn detail. more want as believe to of results that year. reverse we I projected our now compared the purity timing we Gilberto is that QX EBITDA incur to will our the in a result have lower discuss that will the to
