OSLO, Norway, April 27, 2022 /PRNewswire/ -- In the first...

OSLO, Norway, April 27, 2022 /PRNewswire/ -- In the first quarter 2022, Elkem's results again reached all-time high, especially driven by strong performance in the Silicon Products and Carbon Solutions divisions. Elkem has benefitted from high prices and good demand in key markets. Broader industry conditions also include challenges due to high energy costs, raw material constraints and transportation problems, but Elkem's strong integrated business model has provided a competitive advantage. Elkem sees a strong outlook for the second quarter 2022.

Elkem's total operating income for the first quarter 2022 was NOK 11,876 million, which was all-time high and up 65% from the corresponding quarter last year. Earnings before interest, taxes, depreciation and amortisation (EBITDA) amounted to NOK 3,875 million in the quarter, compared to NOK 1,231 million in the first quarter 2021. Earnings per share (EPS) was NOK 4.20 in the quarter.

"Elkem is starting 2022 at an all-time high, delivering our third consecutive quarter of record results, after a record year in 2021. Our first quarter earnings have been more than tripled from the same period last year. Elkem sees strong demand going into the second quarter, explained by strong market positions, and robust integrated value chains. We also continue to position Elkem for the future in line with our strategy, having achieved a rating among the top 1% of companies on sustainability, investing in specialisation and innovation with a new R&I centre in Shanghai and announcing the partnership with Hydro and Altor to accelerate the growth of Vianode as a producer of sustainable battery materials," says Helge Aasen, Elkem's CEO.