- Expansion into battery value chain through strategic partnership with Natron Energy
- Glycine Leaching Technology and AI-powered mining optimization give Draslovka a total addressable market of more than $8 billion
Draslovka a.s (‘Draslovka’ or the ‘Company’), a global provider of sustainability-led technologies, reagents and services for mining and the energy transition, announces its financial results for the year ended 31 December 2024.
Financial highlights
- Revenue of US$454.8 million (2023: US$462.9 million), supported by strong sales of Glycine Leaching Technology and accretive investment in sodium-ion R&D
- Strong sales volumes of specialty chemical products marked by 40% year-on-year revenue growth
- Record demand for sodium cyanide (NaCN) with revenue of US$308 million, supported by strong gold prices and secured long-term offtake agreements
- GLT revenue more than tripled in 2024 to US$16 million
- EBITDA of US$73.7 million (2023: US$74.8 million)
- Supported by strong volume growth and new product development
- Negatively impacted by incurred costs associated and postponement of some GLT licencing opportunities
- Capex normalized to US$34.5 million for 2024
- 28% reduction year-on-year as significant in investment right to operate concluded in 2023
Operational highlights
- Entered strategic partnership with US-based battery producer Natron Energy (‘Natron’), a US technology company specializing in sodium-ion batteries
- Draslovka to develop largescale production of Prussian Blue active material
- Includes offtake agreement from Kolin facility in Czech Republic
- Continued growth of GLT
- Twelve global pilot projects testing GLT directly at customer sites
- Analyzed around 400 ore samples, most of which have turned into commercial opportunities with significant savings for customers
- Identified 7,200 mines suitable for GLT deployment
- Active investment in MetOptima and BlueCube Systems (‘BlueCube’)
- BlueCube operating over 100 active spectrometric ore analyzers across 13 countries
- MetOptima can access global opportunity valued at US$3.5 billion
- Both critical to accelerating global GLT mine adaptation
- Agricultural Solutions unit restructured to become standalone division under INTRESO Group brand
- Sale of INTRESO Group assets explored and process is ongoing
- Group records increasing sales of registered ozone friendly next-generation fumigants in international markets, with further registrations pending
- Diversified into other services and sectors such as structural fumigation, soil treatments and bespoke specialist applications to improve profitability
- Signed new agreement for hydrogen cyanide in Memphis, Tennessee with key customer, Mitsubishi Chemicals
- Agreement extends the offtake contract and provides production and financial stability
Sustainability highlights
- Refreshed double materiality assessment aligned to the EU’s Corporate Sustainability Reporting Directive
- Kolín site retained a silver EcoVadis ranking for the second consecutive year, placing Draslovka in the top 15% of companies overall
Pavel Bruzek, CEO of Draslovka, commented:
“2024 was a transformative year. By developing our proprietary GLT and AI-powered mining optimization tools, our total addressable market for GLT and mining optimization is now estimated at more than $8 billion.
“At the centre was GLT and while some licenses were postponed to 2025, we launched several new partnerships and GLT revenues more than tripled in 2024 to US$16 million. The future is promising as we currently have 12 pilot projects testing GLT at customer sites and we have identified 7,200 mines suitable for GLT deployment. Supporting this is our continued work on MetOptima and BlueCube, which are critical to accelerating GLT mine adaptation and giving us access to new metals and geographies.
“The signing of a long-term agreement with Natron marks the beginning of Draslovka becoming a global technology and service provider to industries addressing sustainable energy security. We are able to do this thanks to our high-quality NaCN, which is uniquely suitable for feedstock to produce sodium-ion battery active material. By increasing NaCN use beyond mining, we are accessing higher-margin sectors and diversifying the Company’s revenue streams.
“In the year, we successfully navigated European energy market volatility while maintaining strong production output at our Kolin facility. As we look ahead we remain focused on accelerating the commercialization of our technologies, deepening partnerships and capitalizing on market opportunities that drive sustainable growth.
“None of this would be possible without the dedication of our employees, partners and stakeholders whose expertise and commitment to innovation set Draslovka apart.”
Outlook
While there continues to be global uncertainty, Draslovka has built a foundation to deliver solutions that create lasting value for customers, investors and the industries it serves.
Draslovka will continue to invest in growth of production capabilities in the medium term, while ensuring financial stability to drive further sustainable growth. Following diversification into supplying materials to the sodium-ion battery value chain, the bulk of near-term growth capex is expected to be invested in Draslovka’s existing facility in Kolin, Czech Republic.
Financial performance
| In thousands of US dollars | 2024 | 2023 | Change |
|---|---|---|---|
| Revenue | 454,761 | 462,900 | (1.8%) |
| Gross profit | 9,504 | 34,937 | (72.8%) |
| Adj. EBITDA | 73,700 | 74,800 | (1.5%) |
Read Draslovka a.s. 2024 Annual Report
About Draslovka
Draslovka a.s. (‘Draslovka’) is a chemical technologies, products and services company creating value and improving sustainability in several industries, including mining, agriculture and manufacturing. Today, Draslovka is best known as one of the world’s largest producers of sodium cyanide, a chemical vital for gold mining however its most important contribution to the sector is its Glycine Leaching Technology (‘GLT’), the company’s proprietary technology that leaches metals (including gold, copper, nickel and cobalt) in a more sustainable and economic manner. Draslovka also manufactures other specialist chemicals and reagents and provides class-leading chemical application services to the mining and pest control industries as well as AI-enabled support services.
Contacts
Investor Enquiries:
Draslovka Holding a.s.
Martin Simonek
Head of Investor Relations
Email: martin.simonek@draslovka.com
Media Enquiries:
Draslovka Holding a.s.
Erik Svamberk
Head of Public Affairs
Tel: +420 723 893 400
Email: erik.svamberk@draslovka.com
FTI Consulting
Viktor Pomichal / Ariadna Peretz
Tel: +44 (0) 7890 417764
Email: draslovka@fticonsulting.com
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