In the second quarter of 2023, Elkem’s Silicon Products Division and Carbon Solutions Division performed strongly, and the company’s overall performance was satisfactory. Affected by factors such as poor market environment, shutdown for maintenance, and inventory write-down, the performance of the Silicone Division was poor.
Due to the decline in sales volume and price, Elkem’s total operating income in the second quarter of 2023 will be NOK 9.258 billion (US$902 million), a decrease from the same period in 2022. Earnings before interest, taxes, depreciation and amortization (EBITDA) of NOK 1,039 million (USD 101 million) and a record high of NOK 3,924 million in the second quarter of 2022. Earnings per share (EPS) were NOK 0.06 for the second quarter and NOK 1.56 year-to-date cumulatively.
Silicon Products and Carbon Solutions continued to perform well thanks to favorable cost advantages and market positions. However, the Silicon Products Division is under the control of Tamshavin (Tha
Mshavn) and Rana (Rana) two factories were shut down for maintenance, and the loss is estimated to be about NOK 80 million. Due to the drop in sales volume and price, as well as the loss of approximately NOK 100 million due to the suspension of production and maintenance of Chinese factories, and a write-down of NOK 70 million in inventory, the performance of the Silicone Division was poor.
Elkem CEO Helge Olsen said, “After two consecutive years of record performance, Elkem is facing an even more challenging market environment. The overall performance in the second quarter is still satisfactory. In order to cooperate with the company’s “dual growth” and “green leadership” strategies, we have deliberately carried out production shutdown and maintenance and made growth investments to prepare for the recovery of market demand and the improvement of market conditions. Long-term Looking at it, the global green transformation and digital transformation trends are still strong, which will drive the market’s continued growth in demand for advanced materials and jointly shape a better and more sustainable future.”
Elkem was founded in 1904
, is one of the world’s leading suppliers of advanced silicon-based materials. Elkem operates across the entire value chain, from quartz to specialty silicones, and has an attractive market position in specialty ferrosilicon and carbon materials. The company is headquartered in Oslo with
27 production sites and a worldwide network of sales offices and agents ensure close contact with customers and access to attractive end markets.
微信扫一扫打赏
