Introducing 2024 adjusted EBITDA guidance of
FINANCIAL HIGHLIGHTS
- 2023 revenue of
$1.7 billion , down 36% Y/Y - 2023 adjusted EBITDA of
$315 million , down 63% Y/Y - Q4 adjusted EBITDA declined to
$60 million , down 42% from Q3 and down 54% from Q4-22 - Q4 adjusted EBITDA margins were at 16% versus 25% in the prior quarter and 29% in Q4-22
- Q4 adjusted EPS was
$0.09 versus$0.27 in Q3 and$0.39 in Q4-22 - Net debt increased to
$101 million , up from$71 million in Q3 and down from$127 million in Q4-22 - Total cash decreased to
$138 million , down from$166 million in Q3 and$323 million in Q4-22
BUSINESS HIGHLIGHTS
- Posted solid financial and operational performance for the quarter and the full year despite softening demand and weak pricing
- Adjusted gross debt remained flat in Q4; declining to less than
$100 million in February as a result of a$148 million redemption onFebruary 16, 2024 - Initiated a quarterly cash dividend of
$0.013 per share, payable onMarch 28, 2024 , to shareholders of record as of the close of business onMarch 22, 2024 - Expecting to request the board of directors and shareholders to approve a share repurchase program
- Optimized French energy contract to drive strong results in 2023, received majority of related cash in 2024
- Signed a term sheet for a partnership with a leading battery materials company in
Europe and a memorandum of understanding with an advanced silicon-rich EV battery technology company in the US
Dr.
“Despite the current softness in our end markets, we are very bullish about the company’s long-term prospects as we expect strong secular growth in the solar and EV battery markets to boost the demand for silicon metal in the coming years. We have positioned
“We are introducing 2024 adjusted EBITDA guidance of
Fourth Quarter and Full Year 2023 Financial Highlights
Quarter Ended | Quarter Ended | Quarter Ended | % | % | Twelve Months Ended | Twelve Months Ended | % | ||||||||||||||||||||||
Q/Q | Y/Y | Y/Y | |||||||||||||||||||||||||||
Sales | $ | 375,951 | $ | 416,810 | $ | 448,625 | (10%) | (16%) | $ | 1,650,034 | $ | 2,597,916 | (36%) | ||||||||||||||||
Raw materials and energy consumption for production | $ | (199,911 | ) | $ | (195,600 | ) | $ | (289,572 | ) | 2% | (31%) | $ | (879,625 | ) | $ | (1,285,086 | ) | (32%) | |||||||||||
Energy consumption for production (PPA impact) | 339 | — | — | 339 | — | ||||||||||||||||||||||||
Operating profit (loss) | $ | 14,224 | $ | 75,419 | $ | 29,696 | (81%) | (52%) | $ | 196,940 | $ | 660,547 | (70%) | ||||||||||||||||
Operating margin | 3.8% | 18.1% | 6.6% | 11.9% | 25.4% | ||||||||||||||||||||||||
Adjusted net income attributable to the parent | $ | 16,300 | $ | 53,722 | $ | 75,896 | (70%) | (79%) | $ | 134,943 | $ | 572,630 | (76%) | ||||||||||||||||
Adjusted diluted EPS | $ | 0.09 | $ | 0.27 | $ | 0.39 | $ | 0.71 | $ | 3.04 | |||||||||||||||||||
Adjusted EBITDA | $ | 60,262 | $ | 104,496 | $ | 130,442 | (42%) | (54%) | $ | 315,198 | $ | 860,006 | (63%) | ||||||||||||||||
Adjusted EBITDA margin | 16.0% | 25.1% | 29.1% | 19.1% | 33.1% | ||||||||||||||||||||||||
Operating cash flow | $ | 25,139 | $ | (8,727 | ) | $ | 114,111 | 388% | (78%) | $ | 174,768 | $ | 410,016 | (57%) | |||||||||||||||
Free cash flow1 | $ | 1,888 | $ | (27,357 | ) | $ | 99,559 | 107% | (98%) | $ | 92,962 | $ | 358,242 | (74%) | |||||||||||||||
Working Capital | $ | 510,709 | $ | 510,064 | $ | 700,898 | 0% | (27%) | $ | 510,709 | $ | 700,898 | (27%) | ||||||||||||||||
Cash and Restricted Cash | $ | 137,649 | $ | 165,973 | $ | 322,943 | (17%) | (57%) | $ | 137,649 | $ | 322,943 | (57%) | ||||||||||||||||
Adjusted Gross Debt2 | $ | 238,506 | $ | 237,056 | $ | 449,711 | 1% | (47%) | $ | 238,506 | $ | 449,711 | (47%) | ||||||||||||||||
Equity | $ | 876,180 | $ | 859,723 | $ | 756,813 | 2% | 16% | $ | 876,180 | $ | 756,813 | 16% |
(1) Free cash flow is calculated as operating cash flow plus investing cash flow
(2) Adjusted gross debt excludes bank borrowings on factoring program and impact of leasing standard IFRS16 at
Sales
In the fourth quarter of 2023,
Raw materials and energy consumption for production
Raw materials and energy consumption for production was
Net Income (Loss) Attributable to the Parent
In the fourth quarter of 2023, net loss attributable to the parent was
Adjusted EBITDA
In the fourth quarter of 2023, adjusted EBITDA was
For the full year 2023, adjusted EBITDA was
Total Cash
The total cash balance was
During the fourth quarter of 2023, we generated positive operating cash flow of
Total working capital was
“After generating
Product Category Highlights
Silicon Metal
Quarter Ended | Quarter Ended | Quarter Ended | Twelve Months Ended | Twelve Months Ended | |||||||||||||||||||||||||
% Q/Q | % Y/Y | % Y/Y | |||||||||||||||||||||||||||
Shipments in metric tons: | 49,761 | 57,031 | (12.7 | )% | 39,459 | 26.1 | % | 194,385 | 209,342 | (7.1 | )% | ||||||||||||||||||
Average selling price ($/MT): | 3,371 | 3,481 | (3.2 | )% | 4,655 | (27.6 | )% | 3,715 | 5,332 | (30.3 | )% | ||||||||||||||||||
Silicon Metal Revenue ( | 167,744 | 198,525 | (15.5 | )% | 183,682 | (8.7 | )% | 722,140 | 1,116,212 | (35.3 | )% | ||||||||||||||||||
Silicon Metal Adj.EBITDA ( | 22,188 | 80,823 | (72.5 | )% | 89,064 | (75.1 | )% | 216,534 | 529,355 | (59.1 | )% | ||||||||||||||||||
Silicon Metal Adj.EBITDA Mgns | 13.2% | 40.7% | 48.5% | 30.0% | 47.4% |
Silicon metal revenue in the fourth quarter was
Silicon-Based Alloys
Quarter Ended | Quarter Ended | Quarter Ended | Twelve Months Ended | Twelve Months Ended | |||||||||||||||||||||||||
% Q/Q | % Y/Y | % Y/Y | |||||||||||||||||||||||||||
Shipments in metric tons: | 46,446 | 46,427 | 0.0 | % | 39,847 | 16.6 | % | 191,431 | 204,076 | (6.2 | )% | ||||||||||||||||||
Average selling price ($/MT): | 2,300 | 2,475 | (7.1 | )% | 3,182 | (27.7 | )% | 2,562 | 3,694 | (30.6 | )% | ||||||||||||||||||
Silicon-based Alloys Revenue ( | 106,826 | 114,907 | (7.0 | )% | 126,793 | (15.7 | )% | 490,446 | 753,857 | (34.9 | )% | ||||||||||||||||||
Silicon-based Alloys Adj.EBITDA ( | 34,973 | 25,402 | 37.7 | % | 37,102 | (5.7 | )% | 114,111 | 257,144 | (55.6 | )% | ||||||||||||||||||
Silicon-based Alloys Adj.EBITDA Mgns | 32.7% | 22.1% | 29.3% | 23.3% | 34.1% |
Silicon-based alloy revenue in the fourth quarter was
Manganese-Based Alloys
Quarter Ended | Quarter Ended | Quarter Ended | Twelve Months Ended | Twelve Months Ended | |||||||||||||||||||||||||
% Q/Q | % Y/Y | % Y/Y | |||||||||||||||||||||||||||
Shipments in metric tons: | 61,404 | 56,399 | 8.9 | % | 61,917 | (0.8 | )% | 227,243 | 295,589 | (23.1 | )% | ||||||||||||||||||
Average selling price ($/MT): | 985 | 1,046 | (5.8 | )% | 1,466 | (32.8 | )% | 1,141 | 1,778 | (35.8 | )% | ||||||||||||||||||
Manganese-based Alloys Revenue ( | 60,483 | 58,993 | 2.5 | % | 90,770 | (33.4 | )% | 259,284 | 525,557 | (50.7 | )% | ||||||||||||||||||
Manganese-based Alloys Adj.EBITDA ( | 23,886 | 11,000 | 117.1 | % | 19,696 | 21.3 | % | 37,994 | 69,966 | (45.7 | )% | ||||||||||||||||||
Manganese-based Alloys Adj.EBITDA Mgns | 39.5% | 18.6% | 21.7% | 14.7% | 13.3% |
Manganese-based alloy revenue in the fourth quarter was
Implemented a Capital Return Policy
The board of directors declared a quarterly cash dividend of
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About Ferroglobe
Forward-Looking Statements
This release contains “forward-looking statements” within the meaning of
Forward-looking statements contained in this press release are based on information currently available to the Company and assumptions that management believe to be reasonable, but are inherently uncertain. As a result, Ferroglobe’s actual results, performance or achievements may differ materially from those expressed or implied by these forward-looking statements, which are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors that are, in some cases, beyond the Company’s control.
Forward-looking financial information and other metrics presented herein represent the Company’s goals and are not intended as guidance or projections for the periods referenced herein or any future periods.
All information in this press release is as of the date of its release.
Non-IFRS Measures
This document may contain summarized, non-audited or non-GAAP financial information. The information contained herein should therefore be considered as a whole and in conjunction with all the public information regarding the Company available, including any other documents released by the Company that may contain more detailed information. Adjusted EBITDA, adjusted EBITDA as a percentage of sales, working capital as a percentage of sales, adjusted EBITDA margin, adjusted net profit, adjusted profit per share, working capital, adjusted gross debt and net debt, are non-IFRS financial metrics that management uses in its decision making.
INVESTOR CONTACT:
Vice President, Investor Relations
Email: investor.relations@ferroglobe.com
MEDIA CONTACT:
Executive Director, Communications & Public Affairs
Email: corporate.comms@ferroglobe.com
Unaudited Condensed Consolidated Income Statement (in thousands of | |||||||||||||||||||||
Quarter Ended | Quarter Ended | Quarter Ended | Twelve Months Ended | Twelve Months Ended | |||||||||||||||||
Sales | $ | 375,951 | $ | 416,810 | $ | 448,625 | $ | 1,650,034 | $ | 2,597,916 | |||||||||||
Raw materials and energy consumption for production | (199,911 | ) | (195,600 | ) | (289,572 | ) | (879,625 | ) | (1,285,086 | ) | |||||||||||
Energy consumption for production (PPA impact) | 339 | — | — | 339 | — | ||||||||||||||||
Other operating income | 34,944 | 23,546 | 78,414 | 100,992 | 147,356 | ||||||||||||||||
Staff costs | (79,761 | ) | (83,582 | ) | (76,431 | ) | (305,859 | ) | (314,810 | ) | |||||||||||
Other operating expense | (73,071 | ) | (65,708 | ) | (54,129 | ) | (270,090 | ) | (346,252 | ) | |||||||||||
Depreciation and amortization charges | (20,090 | ) | (19,000 | ) | (20,547 | ) | (73,532 | ) | (81,559 | ) | |||||||||||
Impairment (loss) gain | (23,614 | ) | (1,035 | ) | (56,999 | ) | (25,290 | ) | (56,999 | ) | |||||||||||
Other gain (loss) | (563 | ) | (12 | ) | 335 | (29 | ) | (19 | ) | ||||||||||||
Operating profit | 14,224 | 75,419 | 29,696 | 196,940 | 660,547 | ||||||||||||||||
Net finance income (expense) | (7,681 | ) | (9,165 | ) | (16,830 | ) | (28,722 | ) | (58,741 | ) | |||||||||||
Exchange differences | (4,897 | ) | 1,258 | 4,051 | (7,551 | ) | (9,995 | ) | |||||||||||||
Profit before tax | 1,646 | 67,512 | 16,917 | 160,667 | 591,811 | ||||||||||||||||
Income tax (loss) | (4,160 | ) | (23,399 | ) | (7,775 | ) | (57,540 | ) | (147,983 | ) | |||||||||||
Profit for the period | (2,514 | ) | 44,113 | 9,142 | 103,127 | 443,828 | |||||||||||||||
Profit (loss) attributable to non-controlling interest | (3,954 | ) | (3,229 | ) | (2,943 | ) | (15,816 | ) | (3,514 | ) | |||||||||||
Profit attributable to the parent | $ | (6,468 | ) | $ | 40,884 | $ | 6,199 | $ | 87,311 | $ | 440,314 | ||||||||||
EBITDA | $ | 34,314 | $ | 94,419 | $ | 50,243 | $ | 270,472 | $ | 742,106 | |||||||||||
Adjusted EBITDA | $ | 60,262 | $ | 104,496 | $ | 130,442 | $ | 315,198 | $ | 860,006 | |||||||||||
Weighted average shares outstanding | |||||||||||||||||||||
Basic | 187,872 | 187,872 | 187,523 | 187,872 | 187,816 | ||||||||||||||||
Diluted | 190,801 | 190,531 | 188,949 | 190,290 | 189,625 | ||||||||||||||||
Profit (loss) per ordinary share | |||||||||||||||||||||
Basic | $ | (0.03 | ) | $ | 0.22 | $ | 0.03 | $ | 0.46 | $ | 2.34 | ||||||||||
Diluted | $ | (0.03 | ) | $ | 0.21 | $ | 0.03 | $ | 0.46 | $ | 2.32 |
Unaudited Condensed Consolidated Statement of Financial Position (in thousands of | ||||||||||
2023 | 2023 | 2022 | ||||||||
ASSETS | ||||||||||
Non-current assets | ||||||||||
$ | 29,702 | $ | 29,702 | $ | 29,702 | |||||
Other intangible assets | 133,097 | 120,602 | 111,797 | |||||||
Property, plant and equipment | 506,644 | 494,912 | 486,247 | |||||||
Other non-current financial assets | 19,792 | 15,591 | 14,186 | |||||||
Deferred tax assets | 8,760 | 7,169 | 7,136 | |||||||
Non-current receivables from related parties | 1,658 | 1,589 | 1,600 | |||||||
Other non-current assets | 22,156 | 19,410 | 18,218 | |||||||
Non-current restricted cash and cash equivalents | — | 2,119 | 2,133 | |||||||
Total non-current assets | 721,809 | 691,094 | 671,019 | |||||||
Current assets | ||||||||||
Inventories | 383,841 | 383,452 | 500,080 | |||||||
Trade and other receivables | 310,243 | 293,234 | 420,484 | |||||||
Current receivables from related parties | 2,772 | 2,657 | 2,675 | |||||||
Current income tax assets | 17,558 | 12,500 | 6,104 | |||||||
Other current financial assets | 2 | 359 | 3 | |||||||
Other current assets | 186,477 | 155,767 | 30,608 | |||||||
Assets and disposal groups classified as held for sale | 0 | 795 | 1,067 | |||||||
Current restricted cash and cash equivalents | 1,179 | 2,406 | 2,875 | |||||||
Cash and cash equivalents | 136,470 | 161,448 | 317,935 | |||||||
Total current assets | 1,038,542 | 1,012,618 | 1,281,831 | |||||||
Total assets | $ | 1,760,351 | $ | 1,703,712 | $ | 1,952,850 | ||||
EQUITY AND LIABILITIES | ||||||||||
Equity | $ | 876,180 | $ | 859,723 | $ | 756,813 | ||||
Non-current liabilities | ||||||||||
Deferred income | 26,980 | 49,467 | 3,842 | |||||||
Provisions | 49,775 | 52,515 | 47,670 | |||||||
Bank borrowings | 14,913 | 15,073 | 15,774 | |||||||
Lease liabilities | 20,304 | 11,570 | 12,942 | |||||||
Debt instruments | 149,015 | 150,167 | 330,655 | |||||||
Other financial liabilities | 65,231 | 64,592 | 38,279 | |||||||
Other Obligations | 31,170 | 30,363 | 37,502 | |||||||
Other non-current liabilities | 199 | 166 | 12 | |||||||
Deferred tax liabilities | 32,582 | 35,449 | 35,854 | |||||||
Total non-current liabilities | 390,169 | 409,362 | 522,530 | |||||||
Current liabilities | ||||||||||
Provisions | 122,926 | 84,308 | 145,507 | |||||||
Bank borrowings | 31,635 | 52,071 | 57,069 | |||||||
Lease liabilities | 8,083 | 7,058 | 8,929 | |||||||
Debt instruments | 5,765 | 2,321 | 12,787 | |||||||
Other financial liabilities | 16,052 | 13,538 | 60,382 | |||||||
Payables to related parties | 2,429 | 3,065 | 1,790 | |||||||
Trade and other payables | 183,375 | 166,622 | 219,666 | |||||||
Current income tax liabilities | 8,351 | 11,901 | 53,234 | |||||||
Other Obligations | 14,183 | 11,780 | 9,580 | |||||||
Other current liabilities | 101,203 | 81,963 | 104,563 | |||||||
Total current liabilities | 494,002 | 434,627 | 673,507 | |||||||
Total equity and liabilities | $ | 1,760,351 | $ | 1,703,712 | $ | 1,952,850 |
Unaudited Condensed Consolidated Statement of Cash Flows | |||||||||||||||||||||
Quarter Ended | Quarter Ended | Quarter Ended | Twelve Months Ended | Twelve Months Ended | |||||||||||||||||
Cash flows from operating activities: | |||||||||||||||||||||
Profit for the period | $ | (2,514 | ) | $ | 44,113 | $ | 9,142 | $ | 103,127 | $ | 443,828 | ||||||||||
Adjustments to reconcile net (loss) profit to net cash used by operating activities: | |||||||||||||||||||||
Income tax (benefit) expense | 4,160 | 23,399 | 7,775 | 57,540 | 147,983 | ||||||||||||||||
Depreciation and amortization charges | 20,090 | 19,000 | 20,547 | 73,532 | 81,559 | ||||||||||||||||
Net finance expense | 7,681 | 9,165 | 16,830 | 28,722 | 58,741 | ||||||||||||||||
Exchange differences | 4,897 | (1,258 | ) | (4,051 | ) | 7,551 | 9,995 | ||||||||||||||
Impairment losses | 23,614 | 1,035 | 56,999 | 25,290 | 56,999 | ||||||||||||||||
Net loss (gain) due to changes in the value of asset | 504 | 4 | (209 | ) | 139 | (349 | ) | ||||||||||||||
Gain on disposal of non-current assets | — | — | (120 | ) | (116 | ) | 459 | ||||||||||||||
Share-based compensation | 683 | 2,773 | 1,941 | 7,402 | 5,836 | ||||||||||||||||
Other adjustments | 58 | 8 | (6 | ) | 6 | (91 | ) | ||||||||||||||
Changes in operating assets and liabilities | |||||||||||||||||||||
(Increase) decrease in inventories | (1,746 | ) | (12,482 | ) | 41,566 | 102,179 | (220,823 | ) | |||||||||||||
(Increase) decrease in trade receivables | (5,399 | ) | (16,183 | ) | 10,570 | 126,458 | (67,560 | ) | |||||||||||||
Increase (decrease) in trade payables | 2,879 | (22,361 | ) | (130 | ) | (74,177 | ) | 30,640 | |||||||||||||
Other | (17,067 | ) | (46,796 | ) | (10,288 | ) | (169,577 | ) | (56,677 | ) | |||||||||||
Income taxes paid | (12,701 | ) | (9,144 | ) | (36,455 | ) | (113,308 | ) | (80,524 | ) | |||||||||||
Net cash provided (used) by operating activities | 25,139 | (8,727 | ) | 114,111 | 174,768 | 410,016 | |||||||||||||||
Cash flows from investing activities: | |||||||||||||||||||||
Interest and finance income received | 1,349 | 739 | 257 | 3,725 | 1,520 | ||||||||||||||||
Payments due to investments: | |||||||||||||||||||||
Other intangible assets | (1,331 | ) | (516 | ) | (918 | ) | (2,787 | ) | (1,147 | ) | |||||||||||
Property, plant and equipment | (24,204 | ) | (18,853 | ) | (13,891 | ) | (83,679 | ) | (52,153 | ) | |||||||||||
Other | — | — | — | — | 6 | ||||||||||||||||
Disposals: | |||||||||||||||||||||
Other non-current assets | 935 | — | — | 935 | — | ||||||||||||||||
Net cash (used) provided by investing activities | (23,251 | ) | (18,630 | ) | (14,552 | ) | (81,806 | ) | (51,774 | ) | |||||||||||
Cash flows from financing activities: | |||||||||||||||||||||
Payment for debt and equity issuance costs | — | — | (60 | ) | — | (853 | ) | ||||||||||||||
Repayment of debt instruments | (1,050 | ) | (150,000 | ) | — | (179,075 | ) | (84,823 | ) | ||||||||||||
Increase/(decrease) in bank borrowings: | |||||||||||||||||||||
Borrowings | 39,239 | 131,063 | 140,832 | 432,274 | 838,710 | ||||||||||||||||
Payments | (58,052 | ) | (129,714 | ) | (146,507 | ) | (456,506 | ) | (865,054 | ) | |||||||||||
Amounts paid due to leases | (3,309 | ) | (2,956 | ) | (4,383 | ) | (11,363 | ) | (11,590 | ) | |||||||||||
Proceeds from other financing liabilities | — | — | — | — | 38,298 | ||||||||||||||||
Other amounts received/(paid) due to financing activities | (4,289 | ) | — | — | (21,666 | ) | 678 | ||||||||||||||
Interest paid | (2,923 | ) | (19,371 | ) | (3,569 | ) | (42,207 | ) | (60,822 | ) | |||||||||||
Net cash (used) provided by financing activities | (30,384 | ) | (170,978 | ) | (13,687 | ) | (278,543 | ) | (145,456 | ) | |||||||||||
Total net cash flows for the period | (28,496 | ) | (198,335 | ) | 85,872 | (185,581 | ) | 212,786 | |||||||||||||
Beginning balance of cash and cash equivalents | 165,973 | 363,181 | 236,789 | 322,943 | 116,663 | ||||||||||||||||
Exchange differences on cash and cash equivalents in foreign currencies | 172 | 1,127 | 282 | 287 | (6,506 | ) | |||||||||||||||
Ending balance of cash and cash equivalents | $ | 137,649 | $ | 165,973 | $ | 322,943 | $ | 137,649 | $ | 322,943 | |||||||||||
Cash from continuing operations | 136,470 | 161,448 | 317,935 | 136,470 | 317,935 | ||||||||||||||||
Current/Non-current restricted cash and cash equivalents | 1,179 | 4,525 | 5,008 | 1,179 | 5,008 | ||||||||||||||||
Cash and restricted cash in the statement of financial position | $ | 137,649 | $ | 165,973 | $ | 322,943 | $ | 137,649 | $ | 322,943 |
Adjusted EBITDA ($,000):
Quarter Ended | Quarter Ended | Quarter Ended | Twelve Months Ended | Twelve Months Ended | ||||||||||||||
Profit attributable to the parent | $ | (6,468 | ) | $ | 40,884 | $ | 6,199 | $ | 87,311 | $ | 440,314 | |||||||
Profit (loss) attributable to non-controlling interest | 3,954 | 3,229 | 2,943 | 15,816 | 3,514 | |||||||||||||
Income tax expense | 4,160 | 23,399 | 7,775 | 57,540 | 147,983 | |||||||||||||
Net finance expense | 7,681 | 9,165 | 16,830 | 28,722 | 58,741 | |||||||||||||
Exchange differences | 4,897 | (1,258 | ) | (4,051 | ) | 7,551 | 9,995 | |||||||||||
Depreciation and amortization charges | 20,090 | 19,000 | 20,547 | 73,532 | 81,559 | |||||||||||||
EBITDA | 34,314 | 94,419 | 50,243 | 270,472 | 742,106 | |||||||||||||
Impairment | 23,614 | 1,035 | 56,999 | 25,290 | 56,999 | |||||||||||||
Restructuring and termination costs | — | 5,535 | — | 5,535 | 9,315 | |||||||||||||
New strategy implementation | (1,000 | ) | — | 4,442 | 973 | 29,032 | ||||||||||||
Subactivity | 2,995 | 3,507 | 5,653 | 12,589 | 9,449 | |||||||||||||
PPA Energy | 339 | — | — | 339 | — | |||||||||||||
Prior periods (loss) | — | — | 13,105 | — | 13,105 | |||||||||||||
Adjusted EBITDA | $ | 60,262 | $ | 104,496 | $ | 130,442 | $ | 315,198 | $ | 860,006 |
Adjusted profit attributable to
Quarter Ended | Quarter Ended | Quarter Ended | Twelve Months Ended | Twelve Months Ended | ||||||||||||
Profit attributable to the parent | $ | (6,468 | ) | $ | 40,884 | $ | 6,199 | $ | 87,311 | $ | 440,314 | |||||
Tax rate adjustment | 3,722 | 5,441 | 4,591 | 14,803 | 36,604 | |||||||||||
Impairment | 17,333 | 760 | 46,272 | 18,563 | 46,272 | |||||||||||
Restructuring and termination costs | — | 4,063 | — | 4,063 | 7,562 | |||||||||||
New strategy implementation | (734 | ) | — | 3,606 | 714 | 23,568 | ||||||||||
Subactivity | 2,198 | 2,574 | 4,589 | 9,240 | 7,671 | |||||||||||
PPA Energy | 249 | — | — | 249 | — | |||||||||||
Prior periods (loss) | — | — | 10,639 | — | 10,639 | |||||||||||
Adjusted profit attributable to the parent | $ | 16,300 | $ | 53,722 | $ | 75,896 | $ | 134,943 | $ | 572,630 |
Adjusted diluted profit per share:
Quarter Ended | Quarter Ended | Quarter Ended | Twelve Months Ended | Twelve Months Ended | ||||||||||||
Diluted profit per ordinary share | $ | (0.03 | ) | $ | 0.21 | $ | 0.03 | $ | 0.46 | $ | 2.32 | |||||
Tax rate adjustment | 0.02 | 0.03 | 0.02 | 0.08 | 0.19 | |||||||||||
Impairment | 0.09 | 0.00 | 0.24 | 0.10 | 0.26 | |||||||||||
Restructuring and termination costs | — | 0.02 | — | 0.02 | 0.04 | |||||||||||
New strategy implementation | (0.00 | ) | — | 0.02 | 0.00 | 0.13 | ||||||||||
Subactivity | 0.01 | 0.01 | 0.02 | 0.05 | 0.04 | |||||||||||
PPA Energy | 0.00 | — | — | 0.00 | — | |||||||||||
Prior periods (loss) | — | — | 0.06 | — | 0.06 | |||||||||||
Adjusted diluted profit per ordinary share | $ | 0.09 | $ | 0.27 | $ | 0.39 | $ | 0.71 | $ | 3.04 |
Source:
2024 GlobeNewswire, Inc., source