16:25 London, 18:25 Helsinki, 21 February 2025– Afarak Group SE (“Afarak” or “the Company”) (LSE: AFRK, NASDAQ: AFAGR)
EARNINGS CAUTION– LOWER OF TURN OVER AND EBITDA
Stock Exchange Release
The Board of Directors of Afarak Group SE (“Company”) worth quotes, that the EBITDA for the whole yr 2024 goes to round 2.6 Million Euro, which stands for a decline of 85% contrasted to 2023.
Furthermore, the flip over for the whole yr 2024 is anticipated to be at round 128.6 Million Euro which stands for a decline of 16.3%
In the Interim financial launch H1 2024 launched on 16 August 2024, the enterprise talked about the complying with assumptions: We dream to present our buyers an improve relating to these:
EXPECTATION FOR THE 2ND FIFTY PERCENT OF 2024
On the decreased carbon ferro-chrome aspect, the permissions versus Russian product will simply be fully carried out by finish of 2024. Increased want in aeronautics and safety purposes should moreover start to disclose some favorable affect on the availability and want equilibriums. Domestic value levels in China seem to have truly unhealthy additionally. We anticipate further enhancements in our worth framework all through the 2nd half-year and stay to create brand-new earnings streams inEurope The marketplace for decreased carbon ferro-chrome will definitely be frequently reasonably priced all year long.
Update:
The yr 2024 misbehaved for the stainless steel market, and indicators are displaying that moreover 2025 can find yourself being an extra powerful yr.
During 2024 the necessity of stainless-steel, particularly in Germany, continued to be decreased and moreover the entire European market continued to be suppressed.
On the manufacturing aspect we successfully proceeded the lower of our worth of producing. We can often validate that the necessity for the Low Carbon distinctive qualities, made use of for specialised purposes, has truly enhanced and {the marketplace} charges have truly revealed some upside, nonetheless the fee state of affairs of the essential qualities, particularly on account of the imports of Russian product from varied Countries, bypassing the permissions, has truly influenced our margins drastically as a result of part.
The chrome ore market, on the assorted different hand, is anticipated to remain strong. We have truly been settling monetary funding selections that can actually permit us to promptly improve the results of chrome ore focuses inSouth Africa
Update: The third and particularly 4th quarter noticed an unexpected and appreciable discount in Cr Ore charges, on account of the weak financial local weather inChina Since mid January, this sample has truly been rotated and {the marketplace} indications for Cr Ore are rather more favorable as soon as extra.
Helsinki, February 21, 2025
AFARAK TEAM SE
Board of Directors
For added particulars, please get in contact with:
Guy Konsbruck, CHIEF EXECUTIVE OFFICER, +356 2122 1566, man.konsbruck@afarak.com
Financial data and varied different capitalist particulars are available on the Company’s website: www.afarak.com
Afarak Group is knowledgeable alloy producer focused on offering lasting improvement with a Speciality Alloys service in southerly Europe and a FerroAlloys service in South Africa The Company is offered on NASDAQ Helsinki (AFAGR) and the Main Market of the London Stock Exchange ( AFRK).
Distribution:
NASDAQ Helsinki
London Stock Exchange
Main media
www.afarak.com
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