trending Market Intelligence /marketintelligence/en/news-insights/trending/4bslayikt687j6tanxs4vq2 content esgSubNav
Log in to other products


Looking for more?

Contact Us
In This List

Ferroglobe swings to net profit in Q1


Highlighting the Top Regional Aftermarket Research Brokers by Sector Coverage


COVID-19 Impact & Recovery: Metals and Mining Outlook for H2 2021


Q&A: Data That Delivers - Automating the Credit Risk Workflow


Mining M&A in 2020 — Deal activity bounces back in H2 after disrupted H1

Ferroglobe swings to net profit in Q1

Ferroglobe PLC on May 21 posted an attributable net profit of US$36.7 million in the first quarter, swinging from a year-ago net loss of US$6.6 million.

Sales in the period totaled US$560.7 million, up from US$396.0 million in the first quarter of 2017. EBITDA, meanwhile, soared to US$93.5 million in the quarter, from US$30.9 million a year earlier.

The leading producer of silicon metal in the world shipped a total of 91,615 tonnes of silicon, up from 75,753 tonnes shipped in the year-ago period. Shipments of silicon-based alloys reached 76,328 tonnes, higher from 75,386 tonnes on a yearly basis, with shipments of manganese-based alloys totaling 71,176 tonnes, rising from 63,700 tonnes.

Ferroglobe's board decided to reinstate the company's dividend, declaring an interim payment of 6 cents per share. The dividend is payable June 29 to shareholders on record as of June 8.

The company's net debt was about US$449.3 million at the end of March, up from US$386.9 million at the end of 2017, mainly due to the US$55.5 million working capital increase from the recent acquisition of Glencore International AG's France and Norway-based manganese plants.