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”) price quotes, that the EBITDA for the complete year 2024 goes to around 2.6 Million Euro, which stands for a decline of 85% contrasted to 2023.
Furthermore, the turn over for the complete year 2024 is anticipated to be at around 128.6 Million Euro which stands for a decline of 16.3%
In the Interim economic launch H1 2024 released on 16 August 2024, the business mentioned the complying with assumptions: We dream to give our investors an upgrade regarding these:
EXPECTATION FOR THE 2ND FIFTY PERCENT OF 2024
On the reduced carbon ferro-chrome side, the permissions versus Russian product will just be completely carried out by end of 2024. Increased need in aeronautics and protection applications must additionally begin to reveal some favorable influence on the supply and need equilibriums. Domestic cost degrees in China appear to have actually bad also. We anticipate additional enhancements in our price framework throughout the 2nd half-year and remain to create brand-new profits streams inEurope The market for reduced carbon ferro-chrome will certainly be continually affordable throughout the year.
Update:
The year 2024 misbehaved for the stainless-steel market, and signals are showing that additionally 2025 can end up being an additional tough year.
During 2024 the need of stainless-steel, specifically in Germany, continued to be reduced and additionally the whole European market continued to be suppressed.
On the production side we effectively proceeded the decrease of our price of manufacturing. We can usually validate that the need for the Low Carbon unique qualities, made use of for specialized applications, has actually enhanced and the marketplace rates have actually revealed some upside, however the cost scenario of the basic qualities, specifically as a result of the imports of Russian product from various Countries, bypassing the permissions, has actually influenced our margins greatly because section.
The chrome ore market, on the various other hand, is anticipated to stay solid. We have actually been settling financial investment choices that will certainly allow us to promptly enhance the result of chrome ore focuses inSouth Africa
Update: The 3rd and specifically 4th quarter saw an unforeseen and considerable reduction in Cr Ore rates, as a result of the weak economic climate inChina Since mid January, this pattern has actually been turned around and the marketplace indications for Cr Ore are much more favorable once more.
Helsinki, February 21, 2025
AFARAK TEAM SE
Board of Directors
For added details, please get in touch with:
Guy Konsbruck, CHIEF EXECUTIVE OFFICER, +356 2122 1566, guy.konsbruck@afarak.com
Financial records and various other capitalist details are readily available on the Company’s site: www.afarak.com
Afarak Group is a professional alloy manufacturer concentrated on providing lasting development with a Speciality Alloys service in southerly Europe and a FerroAlloys service in South Africa The Company is provided 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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