WE Soda is the largest producer of natural soda ash and, we believe, the fastest growing producer of natural soda ash and one of the lowest cost producers of soda ash in the world
We benefit from a modern, well invested asset base and the most environmentally friendly and sustainable production process within our industry.
Large, global market with steady, non-cyclical volume growth
Clean, simple product
Resilient industrial end markets and no meaningful substitution risk
Tightening supply-demand balances, within disciplined supply additions
Robust price growth, driven by supply-demand and forecast to continue
Largest natural soda ash producer globally
Modern, efficient, well-invested assets
By far the lowest cost natural soda ash producer globally
Barriers to entry: access to Trona and solution extraction 'know-how'
We export to ~80 countries around the world
Cleanest and most environmentally-friendly production
By far the lowest CO₂ energy/water consumption and waste, compared with other production methods
Gold EcoVadis (sustainability) and A-grade CDP (environmental) ratings
Multiple social projects supporting the communities in which we operate
Strong governance, with balanced Board
Exceptional EBITDA margins and growth
'Right-way' FX exposure, low price volatility
100% of WE Soda’s sales are in hard currency: c.50% USD, c.50% EUR
~80% average Cash Conversion during last 3 years
Low leverage: 1.6x LTM June 2023 net debt/adj. EBITDA
We believe that we are growing faster than any other soda ash producer
Kazan Soda (Turkey) expansion project: additional 900k mtpa by by Q1 2026
Pacific Soda (US): +~2.7-5.4 mtpa by YE 2027
West Soda (US): +~2.5-3.0 mtpa (initially) before 2030
All numbers are as of 6 October 2023