Latest news with #AfarakGroupSE
Business Upturn
2 days ago
- Business
- Business Upturn
AFARAK GROUP: INTERIM REPORT H1 2025
07:00 London, 09:00 Helsinki, 15 August 2025 – Afarak Group SE ('Afarak' or 'the Company') (LSE: AFRK, NASDAQ: AFAGR) FINANCIAL INTERIM RELEASE H1 2025 H1/25 H1/ 24 2024 Revenue EUR million 77.1 71.4 128.6 EBITDA EUR million 6.9 4.2 2.6 EBIT EUR million 5.9 3.1 -0.1 Earnings before taxes EUR million 3.4 1.9 -5.3 Profit EUR million 2.4 0.5 -7.2 Earnings per share EUR 0.01 0.00 -0.03 EBITDA margin 9.0% 5.9% 2.0% EBIT margin 7.7% 4.3% -0.1% Earnings margin 4.5% 2.6% -4.1% Personnel (end of period) 613 588 602 FIRST HALF 2025 HIGHLIGHTS Revenue increased by 8% to EUR 77.1 (H1/2024: 71.4) million; Afarak successfully completed the sale of its Ilitha and Zeerust mining assets in South Africa, generating a gain of EUR 2.4 million; Processed material sold increased by 28.8% to 15,354 (H1/2024: 11,922) tonnes; Tonnage mined decreased significantly by 20.5% to 149,410 (H1/2024: 187,958) tonnes; The Group's EBITDA was EUR 6.9 (H1/2024: 4.2) million and the EBITDA margin was 9% (H1/2024: 5.9%); EBIT was EUR 5.9 (H1/2024: 3.1) million, with the EBIT margin at 7.7% (H1/2024: 4.3%); Profit for the period totalled EUR 2.4 (H1/2024: 0.5) million; Cash flow from operations stood at EUR 0.1 (H1/2024: -5.4) million; The interest-bearing debt amounted to EUR 4.9 (30 June 2024: 4.6) (31 December 2024: 2.6) million; Cash and cash equivalents at 30 June totalled EUR 5.8 (30 June 2024: 10.1) (31 December 2024: 3.9) million. OUTLOOK FOR THE SECOND HALF OF 2025 The market for standard grade low carbon ferro-chrome is expected to be stable throughout the year with some modest upwards potential. The weak US$ could easily wipe out any price increases, and cheap imports especially from Kazakhstan, and in a lesser way from Turkey and India/China will continue to weigh on the market price development. The specialty segment may be seeing more substantial improvements in demand and prices. The chrome ore business, on the other hand, is expected to produce better margins. We have been finalizing investment decisions that will enable us to swiftly increase the output of chrome ore concentrates in South Africa. A new wash plant is planned to be commissioned by end of September in our Vlaakport mine, together with a solar energy plant which will make us independent from the grid there and allow us to produce on steady and regular basis concentrates with high quality ratios. The Mecklenburg mine is also expected to increase output substantially. By selling Ilitha and Zeerust, our South African team is now able to focus fully on these two assets. CEO Mr. Guy Konsbruck Afarak managed to present substantially improved EBITDA and profit margins compared to H1/2024 in an extremely competitive and complicated market. The tariff escalation between USA and Europe, the geopolitical uncertainties did not support a positive evolution of the business environment. Internally, unexpected boulder zones caused set-backs in the mining operations in Mecklenburg, which entailed a low production of Chrome ore. Hence, we could not achieve the expected results in that segment. The fact that 80% of our sales happen in the USD currency which has strongly devaluated, added another adverse condition to this picture. Under the light of all the above, we can be satisfied with the results of H1/2025. Afarak has been for many years now the only Western producer of low carbon ferro-chrome, a critical material for production for Aerospace, Defense, Automotive, Green energies, and various other industries. Helsinki, August 15, 2025 Afarak Group SE Board of Directors For additional information, please contact: Guy Konsbruck, CEO, +356 2122 1566, [email protected] Financial reports and other investor information are available on the Company's website: Afarak Group is a specialist alloy producer focused on delivering sustainable growth with a Speciality Alloys business in southern Europe and a FerroAlloys business in South Africa. The Company is listed on NASDAQ Helsinki (AFAGR) and the Main Market of the London Stock Exchange (AFRK). Distribution:NASDAQ HelsinkiLondon Stock ExchangeMain media
Yahoo
28-05-2025
- Business
- Yahoo
AFARAK GROUP SE: REDUCTION OF THE SHARE PREMIUM RESERVE
15:45 London, 17:45 Helsinki, 28 May 2025 - Afarak Group SE ("Afarak" or "the Company") (LSE: AFRK, NASDAQ: AFAGR) AFARAK GROUP SE: REDUCTION OF THE SHARE PREMIUM RESERVE The resolution adopted by Afarak's Extraordinary General Meeting held on 29 January 2025 regarding the reduction of the Company's share premium reserve by EUR 25,223,189.79 has been executed today. Following the reduction, the amount of the share premium reserve recorded in Afarak's balance sheet is zero. The reduced amount has been transferred to the reserve for invested unrestricted equity. The reduction of the share premium reserve had no effect on the number of shares in the Company. IN HELSINKI, ON 28 MAY 2025 AFARAK GROUP SEGuy KonsbruckCEO For additional information, please contact: Guy Konsbruck, CEO, +356 2122 1566, Financial reports and other investor information are available on the Company's website: Afarak Group is a specialist alloy producer focused on delivering sustainable growth with a Speciality Alloys business in southern Europe and a FerroAlloys business in South Africa. The Company is listed on NASDAQ Helsinki (AFAGR) and the Main Market of the London Stock Exchange (AFRK). Distribution: NASDAQ HelsinkiLondon Stock ExchangeMain media
Yahoo
28-05-2025
- Business
- Yahoo
AFARAK GROUP SE: REDUCTION OF SHARE CAPITAL REGISTERED IN THE FINNISH TRADE REGISTER
15:45 London, 17:45 Helsinki, 28 May 2025 - Afarak Group SE ("Afarak" or "the Company") (LSE: AFRK, NASDAQ: AFAGR) AFARAK GROUP SE: REDUCTION OF SHARE CAPITAL REGISTERED IN THE FINNISH TRADE REGISTER The resolution adopted by Afarak's Extraordinary General Meeting held on 29 January 2025 regarding the reduction of the Company's share capital by EUR 22,642,049.60 has been registered in the Finnish Trade Register today. The reduced amount has been transferred to the reserve for invested unrestricted equity in accordance with the resolution. Following the registration, the Company's share capital amounts to EUR 1,000,000. The reduction of share capital has no effect on the number of the Company's shares. IN HELSINKI, ON 28 MAY 2025 AFARAK GROUP SEGuy KonsbruckCEO For additional information, please contact: Guy Konsbruck, CEO, +356 2122 1566, Financial reports and other investor information are available on the Company's website: Afarak Group is a specialist alloy producer focused on delivering sustainable growth with a Speciality Alloys business in southern Europe and a FerroAlloys business in South Africa. The Company is listed on NASDAQ Helsinki (AFAGR) and the Main Market of the London Stock Exchange (AFRK). Distribution: NASDAQ HelsinkiLondon Stock ExchangeMain media in to access your portfolio
Yahoo
28-05-2025
- Business
- Yahoo
AFARAK GROUP SE: REDUCTION OF THE SHARE PREMIUM RESERVE
15:45 London, 17:45 Helsinki, 28 May 2025 - Afarak Group SE ("Afarak" or "the Company") (LSE: AFRK, NASDAQ: AFAGR) AFARAK GROUP SE: REDUCTION OF THE SHARE PREMIUM RESERVE The resolution adopted by Afarak's Extraordinary General Meeting held on 29 January 2025 regarding the reduction of the Company's share premium reserve by EUR 25,223,189.79 has been executed today. Following the reduction, the amount of the share premium reserve recorded in Afarak's balance sheet is zero. The reduced amount has been transferred to the reserve for invested unrestricted equity. The reduction of the share premium reserve had no effect on the number of shares in the Company. IN HELSINKI, ON 28 MAY 2025 AFARAK GROUP SEGuy KonsbruckCEO For additional information, please contact: Guy Konsbruck, CEO, +356 2122 1566, Financial reports and other investor information are available on the Company's website: Afarak Group is a specialist alloy producer focused on delivering sustainable growth with a Speciality Alloys business in southern Europe and a FerroAlloys business in South Africa. The Company is listed on NASDAQ Helsinki (AFAGR) and the Main Market of the London Stock Exchange (AFRK). Distribution: NASDAQ HelsinkiLondon Stock ExchangeMain media in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
28-03-2025
- Business
- Yahoo
AFARAK GROUP SE PUBLISHES FINANCIAL STATEMENTS 2024
12:15 London, 14:15 Helsinki, 28 March 2025 - Afarak Group SE ("Afarak" or "the Company") (LSE: AFRK, OMX: AFAGR) Annual Financial Report AFARAK GROUP SE'S PUBLISHES FINANCIAL STATEMENTS 2024 Afarak Group announces that it has published today its Board of directors report, Financial Statement for the year 2024, the Auditor's Report and the Corporate Governance Statement which is available from the Company's website Afarak publishes the Financial Statements in accordance with European Single Electronic Format (ESEF) reporting requirements with the XHTML format labelled with XBRL tags, which are available as zip file attached to this release. A copy of the Board of Directors report and the Financial Statements for the year 2024 has been submitted to the UK's National Storage Mechanism. Afarak will hold its 2025 Annual General Meeting in Helsinki within the time stipulated in the Finnish Companies Act. Helsinki 28 March 2025 Guy KonsbruckCEO For additional information, please contact: Afarak Group SE Guy Konsbruck, CEO, +356 2122 1566, Financial reports and other investor information are available on the Company's website: Afarak Group is a specialist alloy producer focused on delivering sustainable growth with a Speciality Alloys business in southern Europe and a FerroAlloys business in South Africa. The Company is listed on NASDAQ Helsinki (AFAGR) and the Main Market of the London Stock Exchange (AFRK). Distribution:NASDAQ HelsinkiLondon Stock ExchangeMain media Attachments Afarak_BoD 2024_EN Corporate Governance Statement 2024 ESEF Report 2024_EN Afarak_Remuneration Report 2024 Auditor's Report 2024 Audtor's report - ESEF 2024 Auditor's report - Sustainability Report 2024
