16:25 London, 18:25 Helsinki, 21 February 2025– Afarak Group SE (“Afarak” or “the Company”) (LSE: AFRK, NASDAQ: AFAGR)
REVENUE CAUTION– REDUCE 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 firm mentioned the adhering to assumptions: We dream to offer our investors an upgrade concerning these:
EXPECTATION FOR THE 2ND FIFTY PERCENT OF 2024
On the reduced carbon ferro-chrome side, the permissions versus Russian product will just be totally carried out by end of 2024. Increased need in aeronautics and protection applications ought to additionally begin to reveal some favorable effect on the supply and need equilibriums. Domestic cost degrees in China appear to have actually bad also. We anticipate additional renovations in our expense 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 constantly affordable throughout the year.
Update:
The year 2024 misbehaved for the stainless-steel market, and signals are showing that additionally 2025 can come to be one more 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 controlled.
On the production side we efficiently proceeded the decrease of our expense of manufacturing. We can typically verify that the need for the Low Carbon unique qualities, made use of for specialized applications, has actually raised and the marketplace costs have actually revealed some upside, however the cost scenario of the conventional qualities, particularly as a result of the imports of Russian product from various Countries, bypassing the permissions, has actually influenced our margins greatly because sector.
The chrome ore market, on the various other hand, is anticipated to stay solid. We have actually been wrapping up 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 unanticipated and substantial decline in Cr Ore costs, as a result of the weak economic situation inChina Since mid January, this fad has actually been turned around and the marketplace indications for Cr Ore are extra favorable once again.
Helsinki, February 21, 2025
AFARAK TEAM SE
Board of Directors
For extra 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 offered on the Company’s site: www.afarak.com
Afarak Group is a professional alloy manufacturer concentrated on providing lasting development with a Speciality Alloys organization in southerly Europe and a FerroAlloys organization in South Africa The Company is noted 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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