Ferroglobe PLC (NASDAQ: GSM) (“Ferroglobe”, the “Company”, or the
“Parent”), a leading producer globally of silicon metal,
silicon-based and manganese-based specialty alloys, today announced
financial results for the fourth quarter and full year 2022.
Introducing 2023 adjusted EBITDA
guidance of approximately $290 million
FINANCIAL HIGHLIGHTS
- Record 2022 revenue of $2.6
billion, up 46% Y/Y
- Record 2022 adjusted EBITDA of $860
million, up 380% Y/Y
- Q4 adjusted EBITDA declined to $130
million, down 30% from Q3 and up 52% from Q4-21
- Q4 adjusted EBITDA margins were
strong at 29% versus 31% in the prior quarter and 15% in Q4-21
- Q4 Adjusted EPS was $.42 versus
$.64 in Q3 and $.19 in Q4-21
- Net debt declined to a record low
of $137 million, down from $194 million in Q3 and $397 in
Q4-21
- Total cash increased to $323
million, up from $237 million in Q3 and $116 million in Q4-21
BUSINESS
HIGHLIGHTS
- Good quarter performance in spite
of low market liquidity and high customer destocking
- Value creation plan has generated
approximately $150 million of cost savings and an additional $40
million in commercial excellence on a run-rate basis, and is
projected to increase to a total of $225 million by the end of
2023
- Started production of high purity
silicon used in batteries with limited volumes. Have begun to
receive orders
- Enhancing our global footprint with
22k tons of silicon metal capacity added in Selma, Alabama plant in
2022 and in the process of adding 55k tons at our plant in
Polokwane, South Africa
Dr. Marco Levi, Ferroglobe’s Chief Executive
Officer, commented, “2022 was a record year for Ferroglobe with
revenue and adjusted EBITDA at the highest in the Company’s
history. Our strong performance was the result of strong prices and
demand early in the year followed by a weaker environment in the
second half, driven by sluggish activity in our end markets. Our
performance in 2022 was amplified by the improvements we have made
to the business through our value creation plan. The value creation
plan has generated approximately $150 million of cost savings and
an additional $40 million in commercial excellence on a run-rate
basis, and is projected to increase to $225 million by the end of
2023.
“The prospects for Ferroglobe have never been
stronger. We have optimized the cost structure of the Company to
enable us to outperform throughout the cycle. In addition, we are
well positioned to capitalize on several trends taking place in the
market that will drive growth in the coming years. We expect the
battery market for electric vehicles and the solar market presents
an extraordinary opportunity, driven by the need for high purity
silicon. The use of silicon in batteries is still in its early
stages of development and we expect to see significant growth as
this technology is perfected. We are currently partnered with
battery developers and have recently started production, albeit at
low volumes. Solar is another market that requires high purity
silicon, which represents an enormous market that we expect to
continue to capitalize on, particularly as the trend to onshoring
gains momentum.
“In 2022, we added an additional 22k tons at our
Selma, Alabama facility and are currently in the process of
completing a 55k ton expansion at our Polokwane, South Africa
plant. These capacity additions required minimal investment and
enabled us to expand our access to low-cost silicon metal,
enhancing our flexible global footprint enabling us to move volume
to optimize our cost of production. During recent periods of
extreme energy volatility, particularly in Europe, we were able to
minimize our exposure by moving production from Spain and France to
lower cost regions. This flexibility enabled us to lower our costs
and still service our customers.
“Given our insights into customer orders and end
markets, we expect the first quarter to be down from Q4, but
increase throughout the remainder of the year. In an effort to
provide more insight to investors, we are introducing adjusted
EBITDA guidance for 2023, which we expect to be approximately $270
million to $300m,” concluded Dr. Levi.Fourth Quarter and
Full Year 2022 Financial Highlights
| |
|
Quarter Ended |
|
Quarter Ended |
|
Quarter Ended |
|
% |
|
% |
|
|
Twelve Months Ended |
|
Twelve Months Ended |
|
% |
| $,000
(unaudited) |
|
December 31, 2022 |
|
September 30, 2022 |
|
December 31, 2021 |
|
Q/Q |
|
Y/Y |
|
|
December 31, 2022 |
|
December 31, 2021 |
|
Y/Y |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Sales |
|
$ |
448,625 |
|
|
$ |
593,218 |
|
|
$ |
569,771 |
|
|
|
(24 |
%) |
|
|
(21 |
%) |
|
|
$ |
2,597,916 |
|
|
$ |
1,778,908 |
|
|
46 |
% |
| Raw materials and energy
consumption for production |
|
$ |
(281,303 |
) |
|
$ |
(285,210 |
) |
|
$ |
(371,519 |
) |
|
|
(1 |
%) |
|
|
(24 |
%) |
|
|
$ |
(1,276,817 |
) |
|
$ |
(1,184,896 |
) |
|
8 |
% |
| Operating profit (loss) |
|
$ |
55,800 |
|
|
$ |
154,424 |
|
|
$ |
55,888 |
|
|
|
(64 |
%) |
|
|
(0 |
%) |
|
|
$ |
686,653 |
|
|
$ |
31,386 |
|
|
2,088 |
% |
| Operating margin |
|
|
12.4% |
|
|
|
26.0% |
|
|
|
10% |
|
|
|
|
|
|
|
|
|
|
26.4% |
|
|
|
2% |
|
|
|
| Adjusted net income (loss)
attributable to the parent |
|
$ |
78,864 |
|
|
$ |
118,264 |
|
|
$ |
37,035 |
|
|
|
(33 |
%) |
|
|
113 |
% |
|
|
$ |
575,599 |
|
|
$ |
(42,387 |
) |
|
NA |
|
| Adjusted diluted EPS |
|
$ |
0.42 |
|
|
$ |
0.64 |
|
|
$ |
0.19 |
|
|
|
|
|
|
|
|
|
$ |
3.07 |
|
|
$ |
(0.23 |
) |
|
NA |
|
| Adjusted EBITDA |
|
$ |
130,442 |
|
|
$ |
185,293 |
|
|
$ |
85,579 |
|
|
|
(30 |
%) |
|
|
52 |
% |
|
|
$ |
860,008 |
|
|
$ |
179,330 |
|
|
380 |
% |
| Adjusted EBITDA margin |
|
|
29.1% |
|
|
|
31.2% |
|
|
|
15.0% |
|
|
|
|
|
|
|
|
|
|
33.1% |
|
|
|
10.1% |
|
|
|
| Operating cash flow |
|
$ |
118,059 |
|
|
$ |
54,822 |
|
|
$ |
21,707 |
|
|
|
115 |
% |
|
|
444 |
% |
|
|
$ |
405,018 |
|
|
$ |
(1,341 |
) |
|
NA |
|
| Free cash flow1 |
|
$ |
93,598 |
|
|
$ |
40,345 |
|
|
$ |
14,249 |
|
|
|
132 |
% |
|
|
557 |
% |
|
|
$ |
343,335 |
|
|
$ |
(25,189 |
) |
|
NA |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Working Capital |
|
$ |
705,888 |
|
|
$ |
717,283 |
|
|
$ |
464,870 |
|
|
|
(2 |
%) |
|
|
52 |
% |
|
|
$ |
705,888 |
|
|
$ |
464,870 |
|
|
52 |
% |
| Cash and Restricted Cash |
|
$ |
322,943 |
|
|
$ |
236,789 |
|
|
$ |
116,663 |
|
|
|
36 |
% |
|
|
177 |
% |
|
|
$ |
322,943 |
|
|
$ |
116,663 |
|
|
177 |
% |
| Adjusted Gross Debt2 |
|
$ |
459,620 |
|
|
$ |
431,207 |
|
|
$ |
513,794 |
|
|
|
7 |
% |
|
|
(11 |
%) |
|
|
$ |
459,620 |
|
|
$ |
513,794 |
|
|
(11 |
%) |
| Equity |
|
$ |
771,143 |
|
|
$ |
700,340 |
|
|
$ |
320,031 |
|
|
|
10 |
% |
|
|
141 |
% |
|
|
$ |
771,143 |
|
|
$ |
320,031 |
|
|
141 |
% |
(1) Free cash flow is calculated as operating cash
flow plus investing cash flow(2) Adjusted gross debt
excludes bank borrowings on factoring program and impact of leasing
standard IFRS16 at December 31, 2022 September 30, 2022 &
December 31, 2021
Sales
In the fourth quarter of 2022, Ferroglobe
reported net sales of $448.6 million, a decrease of 24% over the
prior quarter and a decrease of 21% over the year-ago period. For
the full year 2022, sales were $2.6 billion versus $1.8 billion in
the prior year, an increase of 46%. The decrease in our fourth
quarter results is primarily attributable to lower volumes across
our product portfolio, and lower pricing in our main products. The
$145 million decrease in sales over the prior quarter was primarily
driven by silicon metal, which accounted for $80 million of the
decrease, silicon-based alloys, which accounted for $52 million and
manganese-based alloys, which accounted for $7 million. The
increase in sales for the full year 2022 was driven by higher
volumes and a significant increase in prices, particularly during
the first half of the year.
Raw materials and energy consumption for
production
Raw materials and energy consumption for
production was $281.3 million in the fourth quarter of 2022 versus
$285.2 million in the prior quarter, a decrease of 1%. As a
percentage of sales, raw materials and energy consumption for
production was 63% in the fourth quarter of 2022 versus 48% in the
prior quarter. This variance was mainly due to higher energy costs,
higher raw material costs and lower fixed cost absorption as a
result of the decrease in production in France. For full year 2022,
raw materials and energy consumption for production was $1.3
billion, or 49% of sales, versus $1.2 billion, or 67% of sales. The
improvement in these costs as a percent of sales was driven by
operating leverage as a result of higher pricing.
Net Income (Loss) Attributable to the
Parent
In the fourth quarter of 2022, net profit
attributable to the parent was $25.3 million, or $0.13 per diluted
share, compared to a net profit attributable to the parent of $97.6
million, or $0.52 per diluted share in the third quarter. For the
full year 2022, net profit attributable to the parent was
$459.5million, or $2.43 per diluted share, compared to negative
$110.6 million, or negative $0.63.eps
Adjusted EBITDA
In the fourth quarter of 2022, Adjusted EBITDA
was $130.4 million, or 29% of sales, a decrease of 30% compared to
adjusted EBITDA of $185.3 million, or 31% of sales in the third
quarter of 2022. The decrease in the fourth quarter of 2022
Adjusted EBITDA as a percentage of sales is primarily attributable
to a decrease in sales volumes and prices.
For the full year 2022, Adjusted EBITDA was
$860.1 million, or 33% of sales, compared to Adjusted EBITDA of
$179.3 million, or 10% of sales, for the full year 2021.
Total Cash
The total cash balance was $322.9 million as of
December 31, 2022, up $86.1 million from $236.8 million as of
September 30, 2022.
During the fourth quarter of 2022, we generated
positive operating cash flow of $118.1 million, had negative cash
flow from investing activities of $24.5 million, and $7.7 million
in negative cash flow from financing activities.
Total Working Capital
Total working capital was $705.9 million at
December 31, 2022, decreasing from $717.3 million at September 30,
2022. The $11.5 million decrease in working capital during the
quarter was due primarily to a decrease in inventories.
Beatriz García-Cos, Ferroglobe’s Chief Financial
Officer, commented, “Our balance sheet improved dramatically in the
fourth quarter as we continued to reduce our net debt balance from
$194 million in the third quarter to $137 million, an improvement
of $57 million. This improvement was a result of strong cash flow
generation, aided by a reduction in working capital. We expect the
release working capital to continue in the first and second
quarters of 2023 driving continued improvement to our balance
sheet.
“We are targeting a positive net cash position
in 2023. As our balance sheet continues to improve, we are focused
on optimizing our capital structure and how best to return money to
our shareholders,” concluded Mrs.
García-Cos. Product
Category Highlights
Silicon Metal
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Quarter Ended |
|
Quarter Ended |
|
|
|
Quarter Ended |
|
|
|
Twelve Months Ended |
|
Twelve Months Ended |
|
| |
|
December 31, 2022 |
|
September 30, 2022 |
|
% Q/Q |
|
December 31, 2021 |
|
% Y/Y |
|
December 31, 2022 |
|
December 31, 2021 |
|
% Y/Y |
|
Shipments in metric tons: |
|
|
39,459 |
|
|
|
50,545 |
|
|
(21.9 |
)% |
|
|
63,681 |
|
|
(38.0 |
)% |
|
|
209,342 |
|
|
|
253,991 |
|
|
(17.6 |
)% |
|
Average selling price ($/MT): |
|
|
4,655 |
|
|
|
5,220 |
|
|
(10.8 |
)% |
|
|
2,944 |
|
|
58.1 |
% |
|
|
5,332 |
|
|
|
2,511 |
|
|
112.3 |
% |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Silicon Metal Revenue
($,000) |
|
|
183,682 |
|
|
|
263,845 |
|
|
(30.4 |
)% |
|
|
187,477 |
|
|
(2.0 |
)% |
|
|
1,116,212 |
|
|
|
637,695 |
|
|
75.0 |
% |
| Silicon Metal
Adj.EBITDA ($,000) |
|
|
89,064 |
|
|
|
113,151 |
|
|
(21.3 |
)% |
|
|
32,501 |
|
|
174.0 |
% |
|
|
529,355 |
|
|
|
72,346 |
|
|
631.7 |
% |
| Silicon Metal
Adj.EBITDA Mgns |
|
|
48.5% |
|
|
|
42.9% |
|
|
|
|
|
17.3% |
|
|
|
|
|
47.4% |
|
|
|
11.3% |
|
|
|
Silicon metal revenue in the fourth quarter was
$183.7 million, a decrease of 30.4% over the prior quarter. The
average realized selling price decreased by 10.8%, primarily due to
a pricing market decline of 22% in the US and 8% in Europe. Total
shipments decreased due to weak demand in chemicals and aluminum in
Europe. Adjusted EBITDA for silicon metal decreased to $89.1
million during the fourth quarter, a decrease of 21.3% compared
with $113.2 million for the prior quarter. EBITDA margin in the
quarter improved mainly driven by the energy compensation in
France.
Silicon-Based Alloys
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Quarter Ended |
|
Quarter Ended |
|
|
|
Quarter Ended |
|
|
|
Twelve Months Ended |
|
Twelve Months Ended |
|
| |
|
December 31, 2022 |
|
September 30, 2022 |
|
% Q/Q |
|
December 31, 2021 |
|
% Y/Y |
|
December 31, 2022 |
|
December 31, 2021 |
|
% Y/Y |
|
Shipments in metric tons: |
|
|
39,847 |
|
|
|
48,977 |
|
|
(18.6 |
)% |
|
|
60,078 |
|
|
(33.7 |
)% |
|
|
204,076 |
|
|
|
242,766 |
|
|
(15.9 |
)% |
|
Average selling price ($/MT): |
|
|
3,182 |
|
|
|
3,655 |
|
|
(12.9 |
)% |
|
|
2,770 |
|
|
14.9 |
% |
|
|
3,694 |
|
|
|
2,058 |
|
|
79.5 |
% |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Silicon-based Alloys
Revenue ($,000) |
|
|
126,793 |
|
|
|
179,011 |
|
|
(29.2 |
)% |
|
|
166,439 |
|
|
(23.8 |
)% |
|
|
753,857 |
|
|
|
499,584 |
|
|
50.9 |
% |
| Silicon-based Alloys
Adj.EBITDA ($,000) |
|
|
37,102 |
|
|
|
59,668 |
|
|
(37.8 |
)% |
|
|
51,174 |
|
|
(27.5 |
)% |
|
|
272,322 |
|
|
|
81,022 |
|
|
236.1 |
% |
| Silicon-based Alloys
Adj.EBITDA Mgns |
|
|
29.3% |
|
|
|
33.3% |
|
|
|
|
|
30.7% |
|
|
|
|
|
36.1% |
|
|
|
16.2% |
|
|
|
Silicon-based alloy revenue in the fourth
quarter was $126.8 million, a decrease of 29.2% over the prior
quarter. The average realized selling price decreased by 12.9%, due
to a decline in demand for ferrosilicons linked to general industry
declines in the steel sector. Total shipments of silicon-based
alloys decreased 18.6%, driven by weak demand from steel
manufacturers. Adjusted EBITDA for the silicon-based alloys
portfolio decreased to $37.1 million in the fourth quarter of 2022,
a decrease of 37.8% compared with $59.7 million for the prior
quarter. EBITDA margin decreased in the quarter mainly due to the
decrease in sale prices driven by a reduction in the indexes.
Manganese-Based Alloys
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Quarter Ended |
|
Quarter Ended |
|
|
|
Quarter Ended |
|
|
|
Twelve Months Ended |
|
Twelve Months Ended |
|
| |
|
December 31, 2022 |
|
September 30, 2022 |
|
% Q/Q |
|
December 31, 2021 |
|
% Y/Y |
|
December 31, 2022 |
|
December 31, 2021 |
|
% Y/Y |
|
Shipments in metric tons: |
|
|
61,917 |
|
|
|
61,583 |
|
|
0.5 |
% |
|
|
97,053 |
|
|
(36.2 |
)% |
|
|
295,589 |
|
|
|
314,439 |
|
|
(6.0 |
)% |
|
Average selling price ($/MT): |
|
|
1,466 |
|
|
|
1,584 |
|
|
(7.4 |
)% |
|
|
1,720 |
|
|
(14.8 |
)% |
|
|
1,778 |
|
|
|
1,492 |
|
|
19.2 |
% |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Manganese-based Alloys
Revenue ($,000) |
|
|
90,770 |
|
|
|
97,547 |
|
|
(6.9 |
)% |
|
|
166,953 |
|
|
(45.6 |
)% |
|
|
525,557 |
|
|
|
469,138 |
|
|
12.0 |
% |
| Manganese-based Alloys
Adj.EBITDA ($,000) |
|
|
19,696 |
|
|
|
14,681 |
|
|
34.2 |
% |
|
|
28,620 |
|
|
(31.2 |
)% |
|
|
87,619 |
|
|
|
76,950 |
|
|
13.9 |
% |
| Manganese-based Alloys
Adj.EBITDA Mgns |
|
|
21.7% |
|
|
|
15.1% |
|
|
|
|
|
17.1% |
|
|
|
|
|
16.7% |
|
|
|
16.4% |
|
|
|
Manganese-based alloy revenue in the fourth
quarter was $90.7 million, a decrease of 6.9% over the prior
quarter. The average realized selling price decreased by 7.4% and
total shipments increased 0.5%. Adjusted EBITDA for the
manganese-based alloys portfolio increased to $19.7 million in the
fourth quarter of 2022, an increase of 34.2% compared with $14.7
million for the prior quarter. EBITDA margin in the quarter
improved mainly driven by the energy compensation in France.
Russia – Ukraine War
The ongoing war between Russia and Ukraine has
disrupted supply chains and caused instability in the global
economy, while the United States, United Kingdom and European
Union, among other countries, announced sanctions against Russia.
The ongoing conflict could result in the imposition of further
economic sanctions against Russia. Sanctions imposed on coal and
assimilated products such as anthracite and metallurgical coke have
obliged Ferroglobe to redirect its sourcing of such products to
other origins at a moment of strong market demand, leading to a
temporary increase in raw materials prices. The uncertain supply
and logistical conditions in Russia have also led Ferroglobe to
diversify its sourcing of carbon electrodes. New sourcing was put
in place in the previous quarter allowing Ferroglobe to ensure
supply continuity to its operations worldwide while maintaining
compliance with applicable sanctions.
Subsequent events
Reindus loan
On January 25, 2022, the Ministry opened a
hearing regarding repayment of the loan. The company presented its
allegations on February 15, 2022. On January 19, 2023, a new
Resolution was signed by the Ministry terminating the reimbursement
procedure initiated in January
2022.
On February 10, 2023, €16.3 million was repaid.
A formal confirmation of the amortization calendar is expected to
be received soon from the Ministry.
Conference Call
Ferroglobe invites all interested persons to
participate on its conference call at 8:30 AM, Eastern Time on
February 23, 2023. Please dial-in at least five minutes prior to
the call to register. The call may also be accessed via an audio
webcast.
To join via
phone: Conference
call participants should pre-register using this
link: https://register.vevent.com/register/BI8d32353732624463a89c30a381b5df28 Once
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About Ferroglobe
Ferroglobe is one of the world’s leading
suppliers of silicon metal, silicon- and manganese-based specialty
alloys, and other ferroalloys serving a customer base across the
globe in dynamic and fast-growing end markets, such as solar,
automotive, consumer products, construction and energy. The Company
is based in London. For more information, visit
http://investor.ferroglobe.com.
Forward-Looking Statements
This release contains “forward-looking
statements” within the meaning of U.S. securities laws.
Forward-looking statements are not historical facts but are based
on certain assumptions of management and describe the Company’s
future plans, strategies and expectations. Forward-looking
statements often use forward-looking terminology, including words
such as “anticipate”, “believe”, “could”, “estimate”, “expect”,
“forecast”, “guidance”, “intends”, “likely”, “may”, “plan”,
“potential”, “predicts”, “seek”, “target”, “will” and words of
similar meaning or the negative thereof.
Forward-looking statements contained in this
press release are based on information currently available to the
Company and assumptions that management believe to be reasonable,
but are inherently uncertain. As a result, Ferroglobe’s actual
results, performance or achievements may differ materially from
those expressed or implied by these forward-looking statements,
which are not guarantees of future performance and involve known
and unknown risks, uncertainties and other factors that are, in
some cases, beyond the Company’s control.
Forward-looking financial information and other
metrics presented herein represent the Company’s goals and are not
intended as guidance or projections for the periods referenced
herein or any future periods.
All information in this press release is as of
the date of its release. Ferroglobe does not undertake any
obligation to update publicly any of the forward-looking statements
contained herein to reflect new information, events or
circumstances arising after the date of this press release. You
should not place undue reliance on any forward-looking statements,
which are made only as of the date of this press release.
Non-IFRS Measures
This document may contain summarized,
non-audited or non-GAAP financial information. The information
contained herein should therefore be considered as a whole and in
conjunction with all the public information regarding the Company
available, including any other documents released by the Company
that may contain more detailed information. Adjusted EBITDA,
adjusted EBITDA as a percentage of sales, working capital as a
percentage of sales, adjusted EBITDA margin, adjusted net profit,
adjusted profit per share, working capital, adjusted gross debt and
net debt, are non-IFRS financial metrics that management uses in
its decision making. Ferroglobe has included these financial
metrics to provide supplemental measures of its performance. The
Company believes these metrics are important and useful to
investors because they eliminate items that have less bearing on
the Company’s current and future operating performance and
highlight trends in its core business that may not otherwise be
apparent when relying solely on IFRS financial
measures.INVESTOR CONTACT:
Anis BarodawallaVice President – Investor
Relations Email: investor.relations@ferroglobe.com
MEDIA CONTACT:
Cristina Feliu RoigExecutive Director – Communications &
Public
AffairsEmail: corporate.comms@ferroglobe.com
Ferroglobe PLC and
SubsidiariesUnaudited Condensed Consolidated
Income Statement(in thousands of U.S. dollars,
except per share amounts)
| |
|
Quarter Ended |
|
Quarter Ended |
|
Quarter Ended |
|
Twelve Months Ended |
|
Twelve Months Ended |
|
| |
|
December 31, 2022 |
|
September 30, 2022 |
|
December 31, 2021 |
|
December 31, 2022 |
|
December 31, 2021 |
|
|
Sales |
|
$ |
448,625 |
|
|
$ |
593,218 |
|
|
$ |
569,771 |
|
|
$ |
2,597,916 |
|
|
$ |
1,778,908 |
|
|
| Raw
materials and energy consumption for production |
|
|
(281,303 |
) |
|
|
(285,210 |
) |
|
|
(371,519 |
) |
|
|
(1,276,817 |
) |
|
|
(1,184,896 |
) |
|
| Other
operating income |
|
|
78,414 |
|
|
|
19,711 |
|
|
|
39,619 |
|
|
|
147,356 |
|
|
|
110,085 |
|
|
| Staff
costs |
|
|
(75,891 |
) |
|
|
(75,689 |
) |
|
|
(72,068 |
) |
|
|
(314,270 |
) |
|
|
(280,917 |
) |
|
| Other
operating expense |
|
|
(49,833 |
) |
|
|
(77,954 |
) |
|
|
(87,016 |
) |
|
|
(341,956 |
) |
|
|
(296,809 |
) |
|
|
Depreciation and amortization charges, operating allowances and
write-downs |
|
|
(20,547 |
) |
|
|
(19,719 |
) |
|
|
(24,549 |
) |
|
|
(81,559 |
) |
|
|
(97,328 |
) |
|
|
Impairment losess |
|
|
(44,000 |
) |
|
|
— |
|
|
|
501 |
|
|
|
(44,000 |
) |
|
|
137 |
|
|
| Other
gain (loss) |
|
|
335 |
|
|
|
67 |
|
|
|
1,149 |
|
|
|
(17 |
) |
|
|
2,206 |
|
|
|
Operating profit (loss) |
|
|
55,800 |
|
|
|
154,424 |
|
|
|
55,888 |
|
|
|
686,653 |
|
|
|
31,386 |
|
|
| Net
finance expense |
|
|
(13,862 |
) |
|
|
(16,630 |
) |
|
|
(18,516 |
) |
|
|
(55,776 |
) |
|
|
(148,936 |
) |
|
|
Exchange differences |
|
|
4,048 |
|
|
|
(1,770 |
) |
|
|
9,874 |
|
|
|
(9,997 |
) |
|
|
(2,386 |
) |
|
|
Profit (loss) before tax |
|
|
45,986 |
|
|
|
136,024 |
|
|
|
47,246 |
|
|
|
620,880 |
|
|
|
(119,936 |
) |
|
|
Income tax benefit (loss) |
|
|
(18,259 |
) |
|
|
(37,184 |
) |
|
|
2,789 |
|
|
|
(158,466 |
) |
|
|
4,562 |
|
|
|
Profit (loss) for the period |
|
|
27,727 |
|
|
|
98,840 |
|
|
|
50,035 |
|
|
|
462,414 |
|
|
|
(115,374 |
) |
|
|
Profit (loss) attributable to non-controlling interest |
|
|
(2,382 |
) |
|
|
(1,212 |
) |
|
|
1,412 |
|
|
|
(2,952 |
) |
|
|
4,750 |
|
|
|
Profit (loss) attributable to the parent |
|
$ |
25,345 |
|
|
$ |
97,628 |
|
|
$ |
51,447 |
|
|
$ |
459,462 |
|
|
$ |
(110,624 |
) |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
EBITDA |
|
$ |
76,347 |
|
|
$ |
174,143 |
|
|
$ |
80,437 |
|
|
$ |
768,212 |
|
|
$ |
128,714 |
|
|
|
Adjusted EBITDA |
|
$ |
130,442 |
|
|
$ |
185,293 |
|
|
$ |
85,579 |
|
|
$ |
860,008 |
|
|
$ |
179,330 |
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Weighted average
shares outstanding |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic |
|
|
187,523 |
|
|
|
187,424 |
|
|
|
187,358 |
|
|
|
187,471 |
|
|
|
176,508 |
|
|
|
Diluted |
|
|
188,949 |
|
|
|
188,850 |
|
|
|
188,587 |
|
|
|
188,853 |
|
|
|
176,508 |
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Profit (loss) per
ordinary share |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic |
|
$ |
0.14 |
|
|
$ |
0.52 |
|
|
$ |
0.27 |
|
|
$ |
2.45 |
|
|
$ |
(0.63 |
) |
|
|
Diluted |
|
$ |
0.13 |
|
|
$ |
0.52 |
|
|
$ |
0.27 |
|
|
$ |
2.43 |
|
|
$ |
(0.63 |
) |
|
Ferroglobe PLC and
SubsidiariesUnaudited Condensed Consolidated
Statement of Financial Position(in thousands of
U.S. dollars)
| |
|
December 31, |
|
September 30, |
|
December 31, |
| |
|
2022 |
|
2022 |
|
2021 |
|
ASSETS |
|
Non-current assets |
|
|
|
|
|
|
|
|
|
|
|
Goodwill |
|
$ |
|
29,702 |
|
$ |
29,702 |
|
$ |
29,702 |
|
Other intangible assets |
|
|
|
111,797 |
|
|
97,467 |
|
|
100,642 |
|
Property, plant and equipment |
|
|
|
515,983 |
|
|
511,256 |
|
|
554,914 |
|
Other non-current financial assets |
|
|
|
14,186 |
|
|
3,904 |
|
|
4,091 |
|
Deferred tax assets |
|
|
|
2,514 |
|
|
158 |
|
|
7,010 |
|
Non-current receivables from related parties |
|
|
|
1,600 |
|
|
1,462 |
|
|
1,699 |
|
Other non-current assets |
|
|
|
18,218 |
|
|
17,072 |
|
|
18,734 |
|
Non-current restricted cash and cash equivalents |
|
|
|
2,133 |
|
|
1,950 |
|
|
2,272 |
|
Total non-current assets |
|
|
|
696,133 |
|
|
662,971 |
|
|
719,064 |
|
Current assets |
|
|
|
|
|
|
|
|
|
|
|
Inventories |
|
|
|
500,080 |
|
|
511,557 |
|
|
289,797 |
|
Trade and other receivables |
|
|
|
425,474 |
|
|
413,722 |
|
|
381,073 |
|
Current receivables from related parties |
|
|
|
2,675 |
|
|
2,445 |
|
|
2,841 |
|
Current income tax assets |
|
|
|
6,046 |
|
|
1,155 |
|
|
7,660 |
|
Other current financial assets |
|
|
|
3 |
|
|
2 |
|
|
104 |
|
Other current assets |
|
|
|
30,608 |
|
|
35,581 |
|
|
8,408 |
|
Assets and disposal groups classified as held for sale |
|
|
|
1,067 |
|
|
— |
|
|
— |
|
Current restricted cash and cash equivalents |
|
|
|
2,875 |
|
|
— |
|
|
— |
|
Cash and cash equivalents |
|
|
|
317,935 |
|
|
234,839 |
|
|
114,391 |
|
Total current assets |
|
|
|
1,286,763 |
|
|
1,199,301 |
|
|
804,274 |
|
Total assets |
|
$ |
|
1,982,896 |
|
$ |
1,862,272 |
|
$ |
1,523,338 |
|
|
|
|
|
|
|
|
|
|
|
|
|
EQUITY AND LIABILITIES |
|
Equity |
|
$ |
|
771,143 |
|
$ |
700,340 |
|
$ |
320,031 |
|
Non-current liabilities |
|
|
|
|
|
|
|
|
|
|
|
Deferred income |
|
|
|
17,813 |
|
|
23,130 |
|
|
895 |
|
Provisions |
|
|
|
44,169 |
|
|
53,487 |
|
|
60,958 |
|
Bank borrowings |
|
|
|
15,774 |
|
|
2,534 |
|
|
3,670 |
|
Lease liabilities |
|
|
|
12,942 |
|
|
9,181 |
|
|
9,968 |
|
Debt instruments |
|
|
|
330,655 |
|
|
330,990 |
|
|
404,938 |
|
Other financial liabilities |
|
|
|
38,279 |
|
|
34,695 |
|
|
4,549 |
|
Other Obligations (1) |
|
|
|
37,502 |
|
|
43,009 |
|
|
38,082 |
|
Other non-current liabilities (1) |
|
|
|
12 |
|
|
— |
|
|
1,476 |
|
Deferred tax liabilities |
|
|
|
35,854 |
|
|
34,461 |
|
|
25,145 |
|
Total non-current liabilities |
|
|
|
533,000 |
|
|
531,487 |
|
|
549,681 |
|
Current liabilities |
|
|
|
|
|
|
|
|
|
|
|
Provisions |
|
|
|
145,507 |
|
|
121,826 |
|
|
137,625 |
|
Bank borrowings |
|
|
|
62,059 |
|
|
68,446 |
|
|
95,297 |
|
Lease liabilities |
|
|
|
8,929 |
|
|
7,800 |
|
|
8,390 |
|
Debt instruments |
|
|
|
12,787 |
|
|
5,146 |
|
|
35,359 |
|
Other financial liabilities |
|
|
|
60,382 |
|
|
56,078 |
|
|
62,464 |
|
Payables to related parties |
|
|
|
1,790 |
|
|
848 |
|
|
9,545 |
|
Trade and other payables |
|
|
|
219,666 |
|
|
207,996 |
|
|
206,000 |
|
Current income tax liabilities |
|
|
|
53,521 |
|
|
70,564 |
|
|
1,775 |
|
Other Obligations (1) |
|
|
|
9,580 |
|
|
7,171 |
|
|
22,843 |
|
Other current liabilities (1) |
|
|
|
104,532 |
|
|
84,570 |
|
|
74,328 |
|
Total current liabilities |
|
|
|
678,753 |
|
|
630,445 |
|
|
653,626 |
|
Total equity and liabilities |
|
$ |
|
1,982,896 |
|
$ |
1,862,272 |
|
$ |
1,523,338 |
(1) In 2021 we disaggregated “Other
liabilities” into an additional line to the balance sheet “Other
obligations“ to separately present certain contractual obligations
whose nature and function differs from other items presented in the
“Other liabilities line”, so as to allow a better understanding of
the Company´s financial position.
Ferroglobe PLC and
SubsidiariesUnaudited Condensed Consolidated
Statement of Cash Flows
| |
|
Quarter Ended |
|
Quarter Ended |
|
Quarter Ended |
|
Twelve Months Ended |
|
|
Twelve Months Ended |
|
| |
|
December 31, 2022 |
|
September 30, 2022 |
|
December 31, 2021 |
|
December 31, 2022 |
|
|
December 31, 2021 |
|
| Cash flows from
operating activities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Profit (loss) for the period |
|
$ |
27,727 |
|
|
$ |
98,840 |
|
|
$ |
50,035 |
|
|
$ |
462,414 |
|
|
|
$ |
(115,374 |
) |
|
| Adjustments to
reconcile net (loss) profit to net cash used by
operating activities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income tax (benefit) expense |
|
|
18,259 |
|
|
|
37,184 |
|
|
|
(2,789 |
) |
|
|
158,466 |
|
|
|
|
(4,562 |
) |
|
|
Depreciation and amortization charges, operating allowances and
write-downs |
|
|
20,547 |
|
|
|
19,719 |
|
|
|
24,549 |
|
|
|
81,559 |
|
|
|
|
97,328 |
|
|
|
Net finance expense |
|
|
13,862 |
|
|
|
16,630 |
|
|
|
18,516 |
|
|
|
55,776 |
|
|
|
|
148,936 |
|
|
|
Exchange differences |
|
|
(4,048 |
) |
|
|
1,770 |
|
|
|
(9,874 |
) |
|
|
9,997 |
|
|
|
|
2,386 |
|
|
|
Impairment losses |
|
|
44,000 |
|
|
|
— |
|
|
|
(501 |
) |
|
|
44,000 |
|
|
|
|
(137 |
) |
|
|
Net loss (gain) due to changes in the value of asset |
|
|
(209 |
) |
|
|
(124 |
) |
|
|
(70 |
) |
|
|
(349 |
) |
|
|
|
(758 |
) |
|
|
Gain on disposal of non-current assets |
|
|
(120 |
) |
|
|
142 |
|
|
|
(1,036 |
) |
|
|
459 |
|
|
|
|
(1,386 |
) |
|
|
Share-based compensation |
|
|
1,941 |
|
|
|
1,118 |
|
|
|
1,464 |
|
|
|
5,836 |
|
|
|
|
3,627 |
|
|
|
Other adjustments |
|
|
(7 |
) |
|
|
(85 |
) |
|
|
(43 |
) |
|
|
(93 |
) |
|
|
|
(62 |
) |
|
| Changes in operating
assets and liabilities |
|
|
|
|
|
|
|
|
|
|
|
— |
|
|
|
|
— |
|
|
|
(Increase) decrease in inventories |
|
|
41,566 |
|
|
|
(129,210 |
) |
|
|
(11,137 |
) |
|
|
(220,823 |
) |
|
|
|
(60,296 |
) |
|
|
(Increase) decrease in trade receivables |
|
|
14,518 |
|
|
|
60,654 |
|
|
|
(83,434 |
) |
|
|
(72,558 |
) |
|
|
|
(161,434 |
) |
|
|
Increase (decrease) in trade payables |
|
|
(130 |
) |
|
|
1,656 |
|
|
|
12,908 |
|
|
|
30,640 |
|
|
|
|
64,382 |
|
|
|
Other |
|
|
(23,392 |
) |
|
|
(40,991 |
) |
|
|
26,037 |
|
|
|
(69,782 |
) |
|
|
|
29,803 |
|
|
| Income taxes paid |
|
|
(36,455 |
) |
|
|
(12,481 |
) |
|
|
(2,918 |
) |
|
|
(80,524 |
) |
|
|
|
(3,794 |
) |
|
| Net cash provided
(used) by operating activities |
|
|
118,059 |
|
|
|
54,822 |
|
|
|
21,707 |
|
|
|
405,018 |
|
|
|
|
(1,341 |
) |
|
| Cash flows from
investing activities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Interest and finance income
received |
|
|
257 |
|
|
|
1,055 |
|
|
|
23 |
|
|
|
1,520 |
|
|
|
|
207 |
|
|
| Payments due to
investments: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other intangible assets |
|
|
(918 |
) |
|
|
(229 |
) |
|
|
— |
|
|
|
(1,147 |
) |
|
|
|
— |
|
|
|
Property, plant and equipment |
|
|
(13,891 |
) |
|
|
(15,303 |
) |
|
|
(10,480 |
) |
|
|
(52,153 |
) |
|
|
|
(27,597 |
) |
|
|
Other |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
6 |
|
|
|
|
— |
|
|
|
Disposals: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
— |
|
|
|
Other non-current assets |
|
|
— |
|
|
|
— |
|
|
|
1,376 |
|
|
|
— |
|
|
|
|
1,919 |
|
|
|
Other |
|
|
— |
|
|
|
— |
|
|
|
1,623 |
|
|
|
— |
|
|
|
|
1,623 |
|
|
|
Loan to affiliates |
|
|
(9,909 |
) |
|
|
— |
|
|
|
— |
|
|
|
(9,909 |
) |
|
|
|
— |
|
|
| Net cash (used)
provided by investing activities |
|
|
(24,461 |
) |
|
|
(14,477 |
) |
|
|
(7,458 |
) |
|
|
(61,683 |
) |
|
|
|
(23,848 |
) |
|
| Cash flows from
financing activities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Payment for debt and equity
issuance costs |
|
|
(60 |
) |
|
|
(693 |
) |
|
|
— |
|
|
|
(853 |
) |
|
|
|
(43,755 |
) |
|
| Proceeds from equity
issuance |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
|
40,000 |
|
|
| Proceeds from debt
issuance |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
|
60,000 |
|
|
| Repayment of debt
instruments |
|
|
— |
|
|
|
(60,000 |
) |
|
|
— |
|
|
|
(84,823 |
) |
|
|
|
|
|
| Increase/(decrease) in
bank borrowings: |
|
|
|
|
|
|
|
|
|
|
|
— |
|
|
|
|
— |
|
|
|
Borrowings |
|
|
168,516 |
|
|
|
193,644 |
|
|
|
221,587 |
|
|
|
908,495 |
|
|
|
|
659,083 |
|
|
|
Payments |
|
|
(168,230 |
) |
|
|
(219,415 |
) |
|
|
(210,902 |
) |
|
|
(919,932 |
) |
|
|
|
(671,467 |
) |
|
| Amounts paid due to
leases |
|
|
(4,383 |
) |
|
|
(2,412 |
) |
|
|
(2,617 |
) |
|
|
(11,590 |
) |
|
|
|
(11,232 |
) |
|
| Proceeds from other financing
liabilities |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
38,298 |
|
|
|
|
— |
|
|
| Other amounts received/(paid)
due to financing activities |
|
|
— |
|
|
|
(179 |
) |
|
|
— |
|
|
|
678 |
|
|
|
|
— |
|
|
| Interest paid |
|
|
(3,569 |
) |
|
|
(20,078 |
) |
|
|
(704 |
) |
|
|
(60,822 |
) |
|
|
|
(22,177 |
) |
|
| Net cash (used)
provided by financing activities |
|
|
(7,726 |
) |
|
|
(109,133 |
) |
|
|
7,364 |
|
|
|
(130,549 |
) |
|
|
|
10,452 |
|
|
| Total net cash flows
for the period |
|
|
85,872 |
|
|
|
(68,788 |
) |
|
|
21,613 |
|
|
|
212,786 |
|
|
|
|
(14,737 |
) |
|
|
Beginning balance of cash and cash equivalents |
|
|
236,789 |
|
|
|
306,511 |
|
|
|
95,043 |
|
|
|
116,663 |
|
|
|
|
131,557 |
|
|
|
Exchange differences on cash and cash equivalents in foreign
currencies |
|
|
282 |
|
|
|
(934 |
) |
|
|
7 |
|
|
|
(6,506 |
) |
|
|
|
(157 |
) |
|
| Ending balance of cash
and cash equivalents |
|
$ |
322,943 |
|
|
$ |
236,789 |
|
|
$ |
116,663 |
|
|
$ |
322,943 |
|
|
|
$ |
116,663 |
|
|
| Cash from continuing
operations |
|
|
317,935 |
|
|
|
234,839 |
|
|
|
114,391 |
|
|
|
317,935 |
|
|
|
|
114,391 |
|
|
| Current/Non-current restricted
cash and cash equivalents |
|
|
5,008 |
|
|
|
1,950 |
|
|
|
2,272 |
|
|
|
5,008 |
|
|
|
|
2,272 |
|
|
| Cash and restricted
cash in the statement of financial position |
|
$ |
322,943 |
|
|
$ |
236,789 |
|
|
$ |
116,663 |
|
|
$ |
322,943 |
|
|
|
$ |
116,663 |
|
|
Adjusted EBITDA ($,000):
| |
|
Quarter Ended |
|
Quarter Ended |
|
Quarter Ended |
|
Twelve Months Ended |
|
Twelve Months Ended |
|
| |
|
December 31, 2022 |
|
September 30, 2022 |
|
December 31, 2021 |
|
December 31, 2022 |
|
December 31, 2021 |
|
|
Profit (loss) attributable to the parent |
|
$ |
25,345 |
|
|
$ |
97,628 |
|
$ |
51,447 |
|
|
$ |
459,462 |
|
$ |
(110,624 |
) |
|
| Profit (loss) attributable to
non-controlling interest |
|
|
2,382 |
|
|
|
1,212 |
|
|
(1,412 |
) |
|
|
2,952 |
|
|
(4,750 |
) |
|
| Income tax (benefit)
expense |
|
|
18,259 |
|
|
|
37,184 |
|
|
(2,789 |
) |
|
|
158,466 |
|
|
(4,562 |
) |
|
| Net finance expense |
|
|
13,862 |
|
|
|
16,630 |
|
|
18,516 |
|
|
|
55,776 |
|
|
148,936 |
|
|
| Exchange differences |
|
|
(4,048 |
) |
|
|
1,770 |
|
|
(9,874 |
) |
|
|
9,997 |
|
|
2,386 |
|
|
| Depreciation and amortization
charges, operating allowances and write-downs |
|
|
20,547 |
|
|
|
19,719 |
|
|
24,549 |
|
|
|
81,559 |
|
|
97,328 |
|
|
| EBITDA |
|
|
76,347 |
|
|
|
174,143 |
|
|
80,437 |
|
|
|
768,212 |
|
|
128,714 |
|
|
| Impairment |
|
|
44,000 |
|
|
|
— |
|
|
(501 |
) |
|
|
44,000 |
|
|
(137 |
) |
|
| Restructuring and termination
costs |
|
|
— |
|
|
|
— |
|
|
455 |
|
|
|
9,315 |
|
|
27,368 |
|
|
| New strategy
implementation |
|
|
4,442 |
|
|
|
7,354 |
|
|
5,188 |
|
|
|
29,032 |
|
|
22,700 |
|
|
| Pension Plan buyout |
|
|
— |
|
|
|
— |
|
|
— |
|
|
|
— |
|
|
685 |
|
|
| Subactivity |
|
|
5,653 |
|
|
|
3,796 |
|
|
— |
|
|
|
9,449 |
|
|
— |
|
|
| Adjusted
EBITDA |
|
$ |
130,442 |
|
|
$ |
185,293 |
|
$ |
85,579 |
|
|
$ |
860,008 |
|
$ |
179,330 |
|
|
Adjusted profit attributable to
Ferroglobe ($,000):
| |
|
Quarter Ended |
|
Quarter Ended |
|
Quarter Ended |
|
Twelve Months Ended |
|
Twelve Months Ended |
| |
|
December 31, 2022 |
|
September 30, 2022 |
|
December 31, 2021 |
|
December 31, 2022 |
|
December 31, 2021 |
|
Profit (loss) attributable to the parent |
|
$ |
25,345 |
|
$ |
97,628 |
|
$ |
51,447 |
|
|
$ |
459,462 |
|
$ |
(110,624 |
) |
|
Tax rate adjustment |
|
|
9,604 |
|
|
11,584 |
|
|
(17,908 |
) |
|
|
41,616 |
|
|
33,818 |
|
|
Impairment |
|
|
35,719 |
|
|
— |
|
|
(341 |
) |
|
|
35,719 |
|
|
(93 |
) |
|
Restructuring and termination costs |
|
|
— |
|
|
— |
|
|
309 |
|
|
|
7,562 |
|
|
18,610 |
|
|
New strategy implementation |
|
|
3,606 |
|
|
5,970 |
|
|
3,528 |
|
|
|
23,568 |
|
|
15,436 |
|
|
Pension Plan buyout |
|
|
— |
|
|
— |
|
|
— |
|
|
|
— |
|
|
466 |
|
|
Subactivity |
|
|
4,589 |
|
|
3,082 |
|
|
— |
|
|
|
7,671 |
|
|
— |
|
| Adjusted profit (loss)
attributable to the parent |
|
$ |
78,864 |
|
$ |
118,264 |
|
$ |
37,035 |
|
|
$ |
575,599 |
|
$ |
(42,387 |
) |
Adjusted diluted profit per
share:
| |
|
Quarter Ended |
|
Quarter Ended |
|
Quarter Ended |
|
Twelve Months Ended |
|
Twelve Months Ended |
| |
|
December 31, 2022 |
|
September 30, 2022 |
|
December 31, 2021 |
|
December 31, 2022 |
|
December 31, 2021 |
|
Diluted profit (loss) per ordinary share |
|
$ |
0.13 |
|
$ |
0.52 |
|
$ |
0.27 |
|
|
$ |
2.43 |
|
$ |
(0.63 |
) |
|
Tax rate adjustment |
|
|
0.05 |
|
|
0.06 |
|
|
(0.10 |
) |
|
|
0.22 |
|
|
0.20 |
|
|
Impairment |
|
|
0.19 |
|
|
— |
|
|
(0.00 |
) |
|
|
0.20 |
|
|
(0.00 |
) |
|
Restructuring and termination costs |
|
|
0.01 |
|
|
0.01 |
|
|
0.00 |
|
|
|
0.04 |
|
|
0.11 |
|
|
New strategy implementation |
|
|
0.02 |
|
|
0.03 |
|
|
0.02 |
|
|
|
0.13 |
|
|
0.09 |
|
|
Subactivity |
|
|
0.02 |
|
|
0.02 |
|
|
— |
|
|
|
0.04 |
|
|
— |
|
| Adjusted diluted
profit (loss) per ordinary share |
|
$ |
0.42 |
|
$ |
0.64 |
|
$ |
0.19 |
|
|
$ |
3.07 |
|
$ |
(0.23 |
) |
Ferroglobe (NASDAQ:GSM)
Graphique Historique de l'Action
De Nov 2024 à Déc 2024
Ferroglobe (NASDAQ:GSM)
Graphique Historique de l'Action
De Déc 2023 à Déc 2024
