Sisecam Resources LP

In the fourth quarter of 2020, Ciner produced 686,000 short tons, in line with Q4 2019. Full-year 2020 production was 2.28 million tons versus 2.75 million tons in 2019, and total tons sold were 2.2 million, down 19.5% year over year. 2020 net sales were $392 million, down 25% from record 2019 net sales of $523 million. Average domestic price in 2020 declined 6.2% from 2019 and average international price declined 14.6%. In Q4, domestic volumes sold increased 9% sequentially to 265,000 tons, international volumes sold rose 10% to 327,000 tons, and net sales rose 5% from Q3 and 36% from Q2 lows. No EPS, gross margin, or formal forward guidance figures were stated on the call.

The CEO emphasized resilience through a difficult COVID-impacted year, saying the company minimized disruption by using production curtailments only as a last resort and by keeping employees active and safe. He pointed to zero lost workday incidents in 2020 and described the fourth quarter as a period of strong recovery, especially domestically, with export demand also improving from Q2 lows. Strategically, he sounded optimistic about long-term soda ash demand, citing emerging markets, leaching, and battery-related uses, and said exiting the former export cooperative should better position the company globally.

The CFO focused on operating and volume recovery plus the impact of pricing. He said Q4 production was 686,000 short tons, full-year production was 2.28 million tons versus 2.75 million tons in 2019, and total 2020 sales volumes were 2.2 million tons, down 19.5% year over year. He also noted the pricing declines of 6.2% domestically and 14.6% internationally, net sales of $392 million for 2020 versus $523 million in 2019, and that Q4 sales rose 5% sequentially. He said the company achieved $18 million of its $20 million cost-savings program, helped by lower labor, contractor, maintenance, and SG&A spending.

There was no analyst Q&A in the transcript. The call ended after management remarks, so no additional concerns, follow-up questions, or clarifications were raised on air.