Investing.com
Published Feb 08, 2024 07:42
Elkem's total operating income for the fourth quarter 2023 was
The result for the Silicones division clearly improved from a negative EBITDA contribution in the third quarter 2023. The division delivered positive results in challenging markets, helped by lower raw material costs, improved sales of specialties, and positive effects from the internal improvement programmes. The Silicon Products divisions' result declined compared to third quarter 2023, mainly due to lower realised contract prices. In addition, the maintenance stop in
"The macro-economic sentiment has been challenging in 2023, characterised by high inflation, interest rate hikes, slow recovery in
Elkem's operating income for 2023 was
Elkem has introduced a comprehensive improvement programme to counter the weak market conditions, particularly in Silicones. The target is to improve EBITDA by at least
"Elkem celebrates its 120 years anniversary in 2024, having grown from being an industrial start-up into a position as one of the world's leading providers of advanced silicon-based materials. Our focus is always on the future “ with more than 600 researchers around the world innovating to create new solutions for the green transition, digitalisation and other global megatrends," adds Aasen.
On
A fire broke out at the Salten plant in
In
The group's equity as at
In
Markets are still challenging going into the first quarter 2024. Elkem is focusing on extraordinary EBITDA improvements to counter weak demand, especially in Silicones. The Silicones markets are expected to remain challenging in the first quarter. The demand in
For further information, please contact:
VP Finance & Investor Relations
Tel: +47 976 72 806
Email: odd-geir.lyngstad@elkem.com
VP Corporate Communications & Public Affairs
Tel: +47 918 66 567
E-mail: fredrik.normann@elkem.com
About Elkem
Elkem is one of the world's leading providers of advanced silicon-based materials shaping a better and more sustainable future. The company develops silicones, silicon products and carbon solutions by combining natural raw materials, renewable energy and human ingenuity. Elkem helps its customers create and improve essential innovations like electric mobility, digital communications, health and personal care as well as smarter and more sustainable cities. With a strong track record since 1904, its global team of more than 7,400 people has a joint commitment to stakeholders: Delivering your potential. In 2023, Elkem achieved an operating income of
The following files are available for download:
https://mb.cision.com/Main/16930/3924272/2588955.pdf | Elkem ASA - 4Q-2023 - Report |
https://mb.cision.com/Public/16930/3924272/99f1c5a0468a6dc4.pdf | Elkem ASA - 4Q-2023 - Press release |
https://mb.cision.com/Public/16930/3924272/8d31e0261c92ccb4.pdf | Elkem ASA - 4Q-2023 - Presentation |
View original content:https://www.prnewswire.com/news-releases/elkem-fourth-quarter-2023-concludes-a-challenging-year-signs-of-recovery-302057122.html
SOURCE Elkem
Written By: Investing.com
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