Brief: Elkem Says Silicon Market Conditions Remain Challenging

Elkem ASA

12/07/2024 06:25

July 12 (Reuters) - Elkem ASA  ELK.OL :
    * MARKET CONDITIONS HAVE REMAINED CHALLENGING IN QUARTER
    * MARKET CONDITIONS ARE STILL WEAK, DUE TO SOFT DEMAND AND
CHINESE
OVERCAPACITY HITTING  COMMODITY SALES PRICES
    * TARGET IS TO IMPROVE EBITDA BY AT LEAST NOK 1.5 BILLION
AND TO
REDUCE CAPITAL EXPENDITURES BY NOK 2.0 BILLION COMPARED TO 2023.
    * MARKET SENTIMENT IS RELATIVELY WEAK BUT SHOWING SIGNS OF
GRADUAL
IMPROVEMENT.
    * EXPECTS IMPROVED DEMAND IN EUROPE AND US, BUT CHINESE
MARKET IS
STILL HAMPERED BY OVERCAPACITY

Source text for Eikon:  ID:nWkr98KCCT 
Further company coverage:  ELK.OL 

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