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Gains (losses) from operating activities in the statement of income of expenses, included according to their nature (Tables)

12 Months Ended

Dec. 31, 2024

Gains (Losses) From Operating Activities In The Statement Of Income Of Expenses, Included According To Their Nature

Schedule of revenue from operating activities customer activities

The Group derives revenues from the sale of goods (which are recognized at one point in time) and from the provision of services (which are recognized over time) and are distributed among the following geographical areas and main product and service lines:

(a)Geographic areas:

For the year ended December 31, 2024
Geographic areas						Specialty plant nutrition						Iodine and derivatives						Lithium and derivatives						Potassium						Industrial chemicals						Other						Total ThUS$
Chile						110,282						2,012						600						36,506						1,129						21,022						171,551
Latin America and the Caribbean						113,524						20,933						4,300						89,473						7,749						4,650						240,629
Europe						156,500						368,448						97,000						40,270						18,919						470						681,607
North America						367,530						158,253						57,900						61,145						43,519						1,447						689,794
Asia and Others						194,104						418,666						2,081,450						43,389						6,839						732						2,745,180
Total						941,940						968,312						2,241,250						270,783						78,155						28,321						4,528,761

For the year ended December 31, 2023
Geographic areas						Specialty plant nutrition						Iodine and derivatives						Lithium and derivatives						Potassium						Industrial chemicals						Other						Total ThUS$
Chile						109,669						1,603						2,327						31,356						1,136						23,590						169,681
Latin America and the Caribbean						76,157						21,523						7,289						93,868						10,489						973						210,299
Europa						128,370						368,696						278,360						30,357						21,054						1,275						828,112
North America						411,586						122,025						134,768						67,232						47,074						926						783,611
Asia and Others						188,130						378,304						4,757,370						56,237						95,470						276						5,475,787
Total						913,912						892,151						5,180,114						279,050						175,223						27,040						7,467,490

For the year ended December 31, 2022
Geographic areas						Specialty plant nutrition						Iodine and derivatives						Lithium and derivatives						Potassium						Industrial chemicals						Other						Total ThUS$
Chile						128,829						1,523						1,854						64,409						1,199						25,334						223,148
Latin America and the Caribbean						125,712						16,328						5,275						179,621						11,820						1,185						339,941
Europa						196,930						288,854						390,832						27,275						27,725						942						932,558
North America						489,327						141,683						151,152						71,711						59,402						912						914,187
Asia and Others						231,536						305,951						7,603,826						94,164						65,054						213						8,300,744
Total						1,172,334						754,339						8,152,939						437,180						165,200						28,586						10,710,578

Schedule of main product and service lines

Main product and service lines:

Products and Services						For the period from January to December of the year
						2024						2023						2022
						ThUS$						ThUS$						ThUS$
Specialty plant nutrition						941,940						913,912						1,172,334
-Sodium Nitrates						16,906						25,056						21,294
-Potassium nitrate and sodium potassium nitrate						531,961						502,349						700,081
-Specialty Blends						246,219						235,290						285,027
-Other specialty fertilizers						146,854						151,217						165,932
Iodine and derivatives						968,312						892,151						754,339
Lithium and derivatives						2,241,250						5,180,114						8,152,939
Potassium						270,783						279,050						437,180
Industrial chemicals						78,155						175,223						165,200
Other						28,321						27,040						28,586
Total						4,528,761						7,467,490						10,710,578

Schedule of cost of sales

Cost of sales

Cost of sales broken down by nature of expense:

Nature of expense						For the period from January to December of the year
						2024						2023						2022
						ThUS$						ThUS$						ThUS$
Raw materials and consumables used						(1,187,712)						(1,109,139)						(1,035,451)
Classes of employee benefit expenses						(344,078)						(308,972)						(308,744)
Depreciation expense						(312,001)						(252,746)						(218,714)
Depreciation of Right-of-use Assets (contracts under IFRS 16)						(17,746)						(11,719)						(6,549)
Amortization expense						(7,622)						(12,415)						(16,413)
Investment plan expenses						(49,499)						(25,638)						(18,293)
Provision for materials, spare parts and supplies						(3,292)						(10,065)						(7,099)
Contractors						(265,729)						(226,180)						(194,295)
Operating leases						(85,117)						(84,423)						(71,420)
Mining patents						(17,861)						(7,560)						(14,585)
Operational transportation						(94,734)						(107,074)						(91,130)
Freight / product transportation costs						(288,135)						(263,285)						(247,889)
Insurance						(42,237)						(55,204)						(43,323)
Corfo rights and other agreements						(397,473)						(1,868,850)						(3,272,897)
Expenses related to variable lease payments (contracts under IFRS 16)						(6,138)						(4,700)						(3,631)
Variation in gross inventory						(91,544)						20,024						628,671
Variation in inventory provision						19,136						(29,711)						(27,324)
Other						(9,872)						(34,779)						(24,867)
Total						(3,201,654)						(4,392,436)						(4,973,953)

Schedule of other income

Other income						For the period from January to December of the year
						2024						2023						2022
						ThUS$						ThUS$						ThUS$
Discounts obtained from suppliers						1,958						2,002						1,404
Fines charged to suppliers						46						4,118						593
Amounts recovered from insurance						1,240						1,242						1,646
Overestimate of provisions for third-party obligations						309						1,272						86
Sale of assets classified as property, plant and equipment						43						11						365
Sales of materials, spare parts and supplies						842						147						246
Reimbursement of mining patents and notary expenses						8,511						5,205						2,106
Options on mining properties						2,112						376						1,126
Easements, pipelines and roads						414						—						—
Government Grants (1)						13,076						24,387						—
reimbursements Royalty						2,000						—						—
Others						1,678						1,797						2,282
Total						32,229						40,557						9,854

(1) The Company received an unconditional government grant for US$13,076 in December 2024 and US$ 24,387 in September 2023, respectively, related to the permanence of its commercial office of SQM Shanghai Chemicals Co. Ltd. in the current district, which was recognized as part of this category.

Schedule of administrative expenses

Administrative expenses						For the period from January to December of the year
						2024						2023						2022
						ThUS$						ThUS$						ThUS$
Employee benefit expenses						(93,824)						(75,450)						(63,713)
Marketing costs						(6,433)						(6,611)						(5,661)
Amortization expenses						(136)						(444)						(126)
Entertainment expenses						(6,384)						(6,067)						(5,576)
Advisory services						(29,860)						(32,562)						(27,235)
Lease of buildings and facilities						(1,755)						(4,331)						(3,829)
Insurance						(6,254)						(3,778)						(3,011)
Office expenses						(9,165)						(9,230)						(8,596)
Contractors						(8,957)						(11,067)						(7,283)
Depreciation of Right-of-use Assets (contracts under IFRS 16)						(4,919)						(3,463)						(2,656)
Other expenses						(18,272)						(22,762)						(14,958)
Total						(185,959)						(175,765)						(142,644)

Schedule of other expenses

Other expenses						For the period from January to December of the year
						2024						2023						2022
						ThUS$						ThUS$						ThUS$
Impairment (losses) /reversals of impairment losses recognized in income for the year
Properties, plant and equipment						(10,759)						(47,059)						(8,084)
Intangible assets other than goodwill						—						—						(520)
Impairment of materials, spare parts, and supplies						3,625						—						—
Goodwill						—						(9)						(33,629)
Subtotal						(7,134)						(47,068)						(42,233)
Other expenses, by nature
Legal expenses						(47,887)						17,127						(6,841)
VAT and other unrecoverable taxes						(1,779)						(2,683)						(5,694)
Fines paid						(326)						(542)						(617)
Investment plan expenses						(11,546)						(13,255)						(727)
Exploration expenses						—						—						—
Contributions and donations						(35,250)						(38,756)						(19,096)
Other operating expenses						(776)						(8,223)						(763)
Subtotal						(97,564)						(46,332)						(33,738)
Total						(104,698)						(93,400)						(75,971)

Schedule of other gains (losses)

Other (losses) income						For the period from January to December of the year
						2024						2023						2022
						ThUS$						ThUS$						ThUS$
Sale of investments in associates						—						—						60
Adjust previous year application method of participation						209						(378)						(1)
Reversal/Impairment of interests in associates						246						626						1,349
Sale of investments in joint ventures						—						(2,599)						—
Others						(2,597)						97						(1,291)
Total						(2,142)						(2,254)						117

Schedule of (impairment) reversal of losses of financial assets

Impairment of financial assets and reversal of impairment losses						For the period from January to December of the year
						2024						2023						2022
						ThUS$						ThUS$						ThUS$
(Impairment) reversal of value of financial assests (See Note 12.2)						(639)						202						3,369
Totals						(639)						202						3,369

Schedule of expenses by nature

The following summary considers notes 21.2, 21.4 and 21.5.

						For the period from January to December of the year
Expenses by nature						2024						2023						2022
						ThUS$						ThUS$						ThUS$
Raw materials and consumables						(1,187,712)						(1,109,139)						(1,035,451)
Employee benefit expenses						(437,902)						(384,422)						(372,457)
Depreciation expense						(312,001)						(252,746)						(218,714)
Depreciation of right-of-use assets						(22,665)						(15,182)						(9,205)
Impairment of properties, plant and equipment, intangible and Goodwill						(7,134)						(47,068)						(42,233)
Amortization expense						(7,758)						(12,859)						(16,539)
Legal expenses						(47,887)						17,127						(6,841)
Investment plan expenses						(61,045)						(38,893)						(19,020)
Provision for materials, spare parts and supplies						(3,292)						(10,065)						(7,099)
Contractors						(274,686)						(237,247)						(201,578)
Operational leases						(86,872)						(88,754)						(75,249)
Mining patents						(17,861)						(7,560)						(14,585)
Operational transportation						(94,734)						(107,074)						(91,130)
Freight and product transportation costs						(288,135)						(263,285)						(247,889)
Corfo rights and other agreements						(432,723)						(1,907,606)						(3,272,897)
Expenses related to variable lease payments (contracts under IFRS 16)						(6,138)						(4,700)						(3,631)
Insurance						(48,491)						(58,982)						(46,334)
Consultant and advisor services						(29,860)						(32,562)						(27,235)
Variation in gross inventory						(91,544)						20,024						628,671
Variation in inventory provision						19,136						(29,711)						(27,324)
Other expenses						(53,007)						(90,897)						(85,828)
Total expenses by nature						(3,492,311)						(4,661,601)						(5,192,568)

Schedule of finance expenses

Finance expenses						For the period from January to December of the year
						2024						2023						2022
						ThUS$						ThUS$						ThUS$
Interest expense from bank borrowings and overdrafts						(5,485)						(3,890)						(3,065)
Interest expense from bonds						(162,258)						(106,871)						(108,387)
Interest expense from loans						(84,821)						(55,926)						(2,098)
Reversal of capitalized interest expenses						67,126						43,331						24,708
Financial expenses for restoration and rehabilitation provisions						2,103						2,368						9,357
Interest on lease agreement						(2,820)						(2,038)						(1,226)
Loss on debt redemption and extinguishment						(982)						—						—
Other finance costs						(10,407)						(15,376)						(5,940)
Total						(197,544)						(138,402)						(86,651)

Schedule of finance income

Finance income						For the period from January to December of the year
						2024						2023						2022
						ThUS$						ThUS$						ThUS$
Interest from term deposits						67,407						81,981						31,122
Interest from marketable securities						11,193						31,920						10,252
Interest from maintenance of minimum bank balance in current account						3,246						12						6
Other finance income						21,086						4,614						3,318
Other finance interests						710						4,199						2,340
Total						103,642						122,726						47,038

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