Elkem ASA (OTCPK:ELKEF) Q4 2024 Earnings Conference Call February 12, 2025 3:00 AM ET
Company Participants
Odd -Geir Lyngstad – Vice President of Investor Relations
Helge Aasen – Chief Executive Officer
Morten Viga – Chief Financial Officer
Conference Call Participants
Odd-Geir Lyngstad
Good morning, and welcome to Elkem’s Fourth Quarter Results Presentation. My name is Odd-Geir Lyngstad, I’m responsible for Investor Relations in Elkem. To take us through today’s agenda, we have CEO, Helge Aasen; and CFO, Morten Viga. The agenda consists as you can see of business update, update on market with outlook for the first quarter and a presentation of the financial results for the fourth quarter. After Helge and Morten’s presentations, we will open for Q&A. And CEO, Helge Aasen, will take us through the first agenda item.
So please Helge, the word is yours.
Helge Aasen
Yes. Thank you, Odd-Geir and good morning. Welcome everyone, both present physically and online. The key message this quarter is that Elkem is continuing to deliver improving results and we have initiated a strategic review of the Silicones division.
In the fourth quarter, the operating income amounted to NOK 8.5 billion, with an EBITDA of close to NOK 1.2 billion, which represents a margin of 14%, just below our internal target. We consider this to be satisfactory, given the rather weak market conditions that we are experiencing and have for some time. The result in 2024 improved compared to the previous year and this is primarily a result of internal improvements. So I’d like to take the opportunity and give credit to the Elkem organization, showing relentless efforts in our continuous improvement work.
And as we have talked about previously, Silicones has been the primary focus for the improvement program and have now delivered the best results since the third quarter in
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