Half Year 2026 Elkem ASA Earnings Call Transcript
Key Points
- Elkem ASA (ELKEF) successfully raised NOK 1.8 billion in new equity and refinanced its main bank facilities, significantly reducing net debt and improving the leverage ratio from 5 to 3.2.
- The Silicon Products division improved its performance compared to the first quarter, partly due to resumed production at the Rana and Salten facilities.
- Elkem ASA (ELKEF) has launched a new platform for low-carbon materials, FeSi Leap, which helps customers reduce Scope 3 emissions.
- The company achieved a Gold rating from EcoVadis for 2026, placing it among the top 5% of companies rated, with an improved overall score compared to 2025.
- Elkem ASA (ELKEF) is actively pursuing strategic options to maximize value across its portfolio, including potential partnerships and business model innovations.
- Elkem ASA (ELKEF) continues to face challenging market conditions, with weak demand in key markets such as automotive and construction.
- The Iceland facility has been reclassified as a discontinued operation due to weak performance and a structurally higher cost base.
- The Silicon Products division is still experiencing challenging market conditions, with expected impacts from seasonally lower activity levels in the third quarter.
- Elkem ASA (ELKEF) reported a 19% reduction in EBITDA from the second quarter last year, primarily due to lower sales prices for silicon metal.
- The Carbon Solutions segment reported a 29% reduction in EBITDA from the second quarter last year, driven by lower sales volumes and average sales prices.
Warm welcome to Elkem's second quarter results presentation. My name is Odd-Geir Lyngstad. I'm responsible for Investor Relations in Elkem. To take us through today's agenda, we have, as usual, CEO Helge Aasen and CFO Morten Viga. Helge will cover the highlights and the business update, followed by a market update and outlook for the third quarter.
Morten will then present the results for the second quarter. We are pleased to welcome Elkem's next CEO, Dag Teigland, today. Helge will shortly introduce Dag, and he will give a short introduction. We will then open for Q&A after Helge and Morten's presentation. And with that, I hand over to our CEO, Helge.
Yes. Thank you, and welcome, and good morning. I'm doing this without a jacket today. It's quite warm in here. It's actually my last quarterly presentation before handing over the CEO role to Dag. So it's been a privilege to lead Elkem. I've had this role almost
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