Elkem ASA Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2023
February 08, 2024 at 05:30 am EST
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Elkem ASA reported earnings results for the fourth quarter and full year ended December 31, 2023. For the fourth quarter, the company reported sales was NOK 8,028 million compared to NOK 10,181 million a year ago. Revenue was NOK 8,436 million compared to NOK 10,404 million a year ago. Net loss was NOK 461 million compared to net income of NOK 894 million a year ago. Basic loss per share from continuing operations was NOK 0.73 compared to basic earnings per share from continuing operations of NOK 1.41 a year ago. Diluted loss per share from continuing operations was NOK 0.73 compared to diluted earnings per share from continuing operations of NOK 1.41 a year ago.
For the full year, sales was NOK 34,364 million compared to NOK 45,018 million a year ago. Revenue was NOK 35,545 million compared to NOK 45,898 million a year ago. Net income was NOK 72 million compared to NOK 9,561 million a year ago. Basic earnings per share from continuing operations was NOK 0.11 compared to NOK 15.09 a year ago. Diluted earnings per share from continuing operations was NOK 0.11 compared to NOK 15.04 a year ago.
Elkem ASA is a Norway-based provider and developer of silicones, silicon products and carbon solutions by combining natural raw materials, renewable energy and human ingenuity. Elkem has three reportable segments: Silicones, Silicon Products and Carbon Solutions. The Silicones segment iis a producer and seller of a range of silicone-based products across various sub-sectors such as release coatings, engineering elastomers, healthcare products, specialty fluids, emulsions and Resins; the Silicon Products segment is a producer of various grades of metallurgical silicon, ferrosilicon, foundry alloys and microsilica for use in a wide range of end applications; while the Carbon Solutions segment is a producer of carbon electrode materials, lining materials as well as specialty carbon products for metallurgical processes for the production of a range of metals. The Company has numerous subsidiaries, including Elkem Iberia SLU, Elkem Korea Co Ltd and Elkem Silicones Germany GmbH.
ELKEM ASA 
