Elkem's profitability in the fourth quarter 2023 was impacted by challenging markets, but there are signs of recovery as commodity sales prices seem to have bottomed out, and the internal improvement programmes are starting to take effect.
Today, 2 January 2024, Elkem celebrates its 120 years anniversary, having grown from being an industrial start-up in 1904 into a position in 2024 as one of the world's leading providers of advanced silicon-based materials – critical enablers for the digital and green transitions.
Elkem's profitability in the third quarter 2023 was impacted by weak markets and negative one-off effects, including changes to the CO2 compensation scheme in Norway. Relevant measures are taken to reduce costs and adjust investment plans to reflect the weak market conditions. Elkem is well positioned when market conditions improve, based on attractive positions and a strong asset base.