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 diminished carbon ferro-chrome aspect, the permissions versus Russian product will simply be completely carried out by finish of 2024. Increased want in aeronautics and safety purposes should moreover start to disclose some favorable impact on the provision and want equilibriums. Domestic value levels in China seem to have truly unhealthy additionally. We anticipate extra renovations in our expense framework all through the 2nd half-year and stay to create brand-new income streams inEurope The marketplace for diminished carbon ferro-chrome will definitely be continuously reasonably priced all year long.
Update:
The yr 2024 misbehaved for the chrome steel market, and alerts are exhibiting that moreover 2025 can come to be yet another powerful yr.
During 2024 the necessity of stainless-steel, particularly in Germany, continued to be diminished and moreover the entire European market continued to be managed.
On the manufacturing aspect 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 purposes, has truly raised and {the marketplace} prices have truly revealed some upside, nonetheless the associated fee state of affairs of the traditional qualities, notably because of the imports of Russian product from numerous Countries, bypassing the permissions, has truly influenced our margins vastly as a result of sector.
The chrome ore market, on the assorted different hand, is anticipated to remain strong. We have truly been wrapping up monetary funding selections 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, because of the weak financial state of affairs inChina Since mid January, this fad has truly 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 numerous different capitalist particulars are supplied 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
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