Brief: Elkem Says Profitability In Q4 2023 Was Impacted By Challenging Markets

Elkem ASA

08/02/2024 06:17

Feb 8 (Reuters) - Elkem ASA  ELK.OL :
    * PROFITABILITY IN Q4 2023 WAS IMPACTED BY CHALLENGING
MARKETS
    * THERE ARE SIGNS OF RECOVERY AS COMMODITY SALES PRICES SEEM
TO
HAVE BOTTOMED OUT, AND INTERNAL IMPROVEMENT PROGRAMMES ARE
STARTING TO TAKE EFFECT
    * DUE TO LOW EPS, BOARD HAS PROPOSED TO ANNUAL GENERAL
MEETING NOT
TO PAY DIVIDENDS FOR 2023
    * RESULT FOR SILICONES DIVISION CLEARLY IMPROVED FROM A
NEGATIVE
EBITDA CONTRIBUTION IN Q3 2023
    * HIGH INFLATION, INTEREST RATE HIKES, SLOW RECOVERY IN
CHINA, AND
GEOPOLITICAL UNCERTAINTIES
    * MARKETS HAVE ALSO BEEN IMPACTED BY CHINESE EXPORTERS
DISCOUNTING
PRICES TO GET OVER A PROLONGED SLUMP IN DEMAND

Source text for Eikon:  ID:nObip5lMwa 
Further company coverage:  ELK.OL 

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