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”) value 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 agency talked about the adhering to assumptions: We dream to supply our buyers an improve regarding these:
EXPECTATION FOR THE 2ND FIFTY PERCENT OF 2024
On the decreased carbon ferro-chrome facet, the permissions versus Russian product will simply be completely carried out by finish of 2024. Increased want in aeronautics and safety functions must moreover start to disclose some favorable impact on the provision and wish equilibriums. Domestic price levels in China seem to have really dangerous additionally. We anticipate further renovations in our expense 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 consistently inexpensive all year long.
Update:
The yr 2024 misbehaved for the chrome steel market, and indicators are exhibiting that moreover 2025 can come to be another 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 managed.
On the manufacturing facet we effectively proceeded the lower of our expense of producing. We can sometimes confirm that the necessity for the Low Carbon distinctive qualities, made use of for specialised functions, has really raised and {the marketplace} prices have really revealed some upside, nonetheless the price situation of the traditional qualities, significantly on account of the imports of Russian product from varied Countries, bypassing the permissions, has really influenced our margins vastly as a result of sector.
The chrome ore market, on the varied different hand, is anticipated to remain strong. We have really been wrapping up monetary funding decisions that may definitely permit us to promptly improve the results of chrome ore focuses inSouth Africa
Update: The third and particularly 4th quarter noticed an unanticipated and substantial decline in Cr Ore prices, on account of the weak financial state of affairs inChina Since mid January, this fad has really been rotated and {the marketplace} indications for Cr Ore are additional favorable as soon as once more.
Helsinki, February 21, 2025
AFARAK TEAM SE
Board of Directors
For additional 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 provided on the Company’s web site: www.afarak.com
Afarak Group is an expert alloy producer focused on offering lasting improvement with a Speciality Alloys group in southerly Europe and a FerroAlloys group in South Africa The Company is famous 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
Disclaimer: The over information launch issues you underneath a setup with GlobeNewswire. Business Upturn takes no content material responsibility for the exact same.
