Afarak Group: FINANCIAL STATEMENTS RELEASE 2024

09:30 London 11:30 Helsinki   28 February 2025 - Afarak Group SE ("Afarak" or "the Company") (LSE: AFRK, NASDAQ: AFAGR) FINANCIAL STATEMENTS RELEASE 2024    H2/24H2/23FY2024FY2023 RevenueEUR million57.258.3128.6153.7EBITDAEUR million-1.61.52.616.6EBITEUR million-3.20.6-0.115.0Earnings before taxesEUR million-7.2-0.2-5.312.0Loss for the periodEUR million-7.8-0.5-7.210.0Earnings per shareEUR-0...

Helsinki, 28/02/2025 (informazione.news - comunicati stampa - industria)

09:30 London 11:30 Helsinki   28 February 2025 - Afarak Group SE ("Afarak" or "the Company") (LSE: AFRK, NASDAQ: AFAGR)

FINANCIAL STATEMENTS RELEASE 2024

SECOND HALF 2024 HIGHLIGHTS

FULL YEAR 2024 HIGHLIGHTS

MARKET SENTIMENT FOR Q1/2025

Output of LC FeCr is expected to increase compared to Q4 2024. The low market prices show signs of bottoming out. We continue our efforts to lower our COP and dilute the fix cost via increased production of standard grades. Output of chrome ore is expected to remain at the same level. The market prices have recently begun to improve again.

CEO GUY KONSBRUCK

In an extremely tough year 2024, we generated a positive EBITDA of € 2.6M. The stainless steel demand was historically low, especially in Europe.

The demand for low carbon ferro-chrome suffered from this fact. In addition the price pressure from low cost imports (India, Kazakhstan, Russia and China) weighed heavily on our margins. We have decreased the OPEX by 21.2%, but that wasn't enough to generate a good result.

The Chrome Ore prices decreased sharply in the second half year, which further impacted the revenues and margins.

Nonetheless, we succeeded in keeping our financial situation stable. The company will follow the new dividend policy and the board intends to decide about the actual dividend allocation at a later stage.

Helsinki, February 28, 2025

Afarak Group SE

Board of Directors

For additional information, please contact:

Guy Konsbruck, CEO, +356 2122 1566, guy.konsbruck@afarak.com

Financial reports and other investor information are available on the Company's website: www.afarak.com.

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 Helsinki
London Stock Exchange
Main media
www.afarak.com

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