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    Ferroglobe Reports Fourth Quarter and Full Year 2024 Financial Results

    2/19/25 5:00:07 PM ET
    $GSM
    Metal Mining
    Basic Materials
    Get the next $GSM alert in real time by email

    Introducing 2025 Adj. EBITDA guidance of $100-$170 million

    • Posted adjusted EBITDA of $153.8 million for the full year 2024 and $9.8 million for the fourth quarter
    • Generated $164.1 million of free cash flow for the full year and $14.1 million for the fourth quarter
    • Trade measures to ensure fair trade in the U.S. and Europe are progressing well
    • Increasing quarterly dividend by 7.7% to $0.014 per share
    • Paid quarterly cash dividend of $0.013 per share in December
    • Repurchased approximately 482,000 shares during the fourth quarter

    LONDON, Feb. 19, 2025 (GLOBE NEWSWIRE) -- Ferroglobe PLC (NASDAQ:GSM) ("Ferroglobe", the "Company", or the "Parent"), a leading global producer of silicon metal, silicon-based and manganese-based specialty alloys, today announces financial results for the fourth quarter and full year 2024.

    Financial Highlights

          %   %     %
    ($ in millions, except EPS) Q4 2024 Q3 2024 Q/Q Q4 2023 Y/Y YTD 2024 YTD 2023 Y/Y
                          
    Sales $367.5  $433.5  (15.2)% $376.0  (2.2)% $1,643.9 $1,650.0 (0.4)%
    Net (loss) income attributable to the parent $(46.4) $18.8  (346.8)% $(11.1) (317.6)% $5.2 $82.7 (93.7)%
    Adj. EBITDA $9.8  $60.4  (83.7)% $60.3  (83.7)% $153.8 $315.2 (51.2)%
    Adjusted diluted EPS $0.03  $0.11  (75.7)% $0.07  (60.7)% $0.28 $0.68 (58.8)%
    Operating cash flow $32.1  $11.1  188.8% $28.7  11.7% $243.3 $178.4 36.4%
    Capital expenditures1 $17.9  $21.2  (15.2)% $25.5  (29.7)% $79.2 $86.5 (8.4)%
    Free cash flow2 $14.1  $(10.0) 241.0% $3.2  341.1% $164.1 $91.9 78.5%

    (1) Cash outflows for capital expenditures

    (2) Free cash flow is calculated as operating cash flow less capital expenditures

    Dr. Marco Levi, Ferroglobe's Chief Executive Officer, commented, "2024 was a successful year for Ferroglobe with many accomplishments. We achieved an adjusted EBITDA per our guidance and generated strong free cash flow, which was used to repay our senior secured notes. This strong free cash flow and balance sheet enabled us to initiate the capital return program, including dividends and share repurchases, while positioning the company for growth. We are optimistic that, while there are uncertainties in the markets, demand will begin improving in the second half of 2025."

    "Material progress has been made in implementing trade measures with the US Department of Commerce, imposing strong final anti-dumping and countervailing duties on Russian ferrosilicon imports while continuing to investigate the cases against Brazil, Kazakhstan, and Malaysia. The European Commission initiated its safeguard investigation into the imports of silicon metals, silicon alloys and manganese alloys into the EU. Ferroglobe, being a local producer in both the US and Europe, will be a beneficiary of these trade measures as they will reduce artificially low-priced competitive products in the market, helping the market to stabilize.

    "We are issuing adjusted EBITDA guidance for 2025 of $100 million to $170 million. The wide variance in our guidance reflects uncertainties related to trade measures, market conditions and geopolitical factors," concluded Dr. Levi.

    Consolidated Sales

    In the fourth quarter of 2024, Ferroglobe reported sales of $367.5 million, a decrease of 15.2% over the prior quarter and a decrease of 2.2% from the comparable prior year period. This decrease compared to the prior quarter was primarily attributable to lower sales volumes in our portfolio of products, partially offset by higher tons sold in manganese-based alloys. Sales of silicon metal, silicon-based alloys and manganese-based alloys declined by $32.2 million, $16.7 million and $11.2 million, respectively, compared with the prior quarter.

    For the full year 2024, sales were $1,644 million versus $1,650 million in the prior year, a decrease of 0.4%. This decrease was mainly driven by a 17.6% decrease in silicon-based alloys revenue, partially offset by a 28.4% increase in Manganese-Based Alloys revenues.

    Product Category Highlights

    Silicon Metal

                    
    ($,000) Q4 2024 Q3 2024 % Q/Q Q4 2023 % Y/Y YTD 2024 YTD 2023 % Y/Y
    Shipments in metric tons: 49,797  56,910  (12.5)% 49,761  0.1% 222,762  194,385  14.6%
    Average selling price ($/MT): 3,240  3,401  (4.7)% 3,371  (3.9)% 3,262  3,715  (12.2)%
                     
    Silicon Metal Revenue  161,342  193,551  (16.6)% 167,744  (3.8)% 726,650  722,140  0.6%
    Silicon Metal Adj.EBITDA  16,849  40,554  (58.5)% 22,188  (24.1)% 108,058  216,534  (50.1)%
    Silicon Metal Adj.EBITDA Margin 10.4% 21.0%   13.2%   14.9% 30.0%  
                          

    Silicon metal revenue in the fourth quarter was $161.3 million, a decrease of 16.6% over the prior quarter and a decrease of 3.8% from the year-ago period. The average selling price decreased by 4.7%, and shipments decreased by 12.5% due to lower volumes, mainly in EMEA. Adjusted EBITDA for silicon metal decreased 58.5% to $16.8 million during the fourth quarter, compared with $40.6 million in the prior quarter. The softening in adjusted EBITDA margin in the quarter was mainly driven by lower average selling prices and higher energy costs.

    Silicon-Based Alloys

                    
    ($,000) Q4 2024 Q3 2024 % Q/Q Q4 2023 % Y/Y YTD 2024 YTD 2023 % Y/Y
    Shipments in metric tons: 39,417  45,489  (13.3)% 46,446  (15.1)% 183,030  191,431  (4.4)%
    Average selling price ($/MT): 2,159  2,237  (3.5)% 2,300  (6.1)% 2,208  2,562  (13.8)%
                     
    Silicon-based Alloys Revenue  85,101  101,759  (16.4)% 106,826  (20.3)% 404,130  490,446  (17.6)%
    Silicon-based Alloys Adj.EBITDA  3,093  2,356  31.3% 34,973  (91.2)% 30,060  114,111  (73.7)%
    Silicon-based Alloys Adj.EBITDA Margin 3.6% 2.3%   32.7%   7.4% 23.3%  
                          

    Silicon-based alloy revenue in the fourth quarter was $85.1 million, a decrease of 16.4% over the prior quarter and a decrease of 20.3% from the year-ago period. Shipments decreased by 13.3%, which was attributable to weak demand in the US and Europe, mainly in the auto and construction end markets. Adjusted EBITDA for silicon-based alloys increased to $3.1 million in the fourth quarter of 2024, an increase of 31.3% compared with $2.4 million in the prior quarter. Adjusted EBITDA margin improvement was primarily driven by lower raw material costs.

    Manganese-Based Alloys

                    
    ($,000) Q4 2024 Q3 2024 % Q/Q Q4 2023 % Y/Y YTD 2024 YTD 2023 % Y/Y
    Shipments in metric tons: 67,712  64,495  5.0% 61,404  10.3% 275,991  227,243  21.5%
    Average selling price ($/MT): 1,159  1,391  (16.7)% 985  17.7% 1,206  1,141  5.7%
                     
    Manganese-based Alloys Revenue  78,478  89,713  (12.5)% 60,483  29.8% 332,845  259,284  28.4%
    Manganese-based Alloys Adj.EBITDA  7,091  27,854  (74.5)% 23,886  (70.3)% 54,297  37,994  42.9%
    Manganese-based Alloys Adj.EBITDA Margin 9.0% 31.0%   39.5%   16.3% 14.7%  
                          

    Manganese-based alloy revenue in the fourth quarter was $78.5 million, a decrease of 12.5% over the prior quarter and an increase of 29.8% from the year-ago period. The average realized selling price decreased by 16.7% and total shipments increased by 5.0%. Adjusted EBITDA for the manganese-based alloys portfolio decreased to $7.1 million in the fourth quarter of 2024, a decrease of 74.5% compared with $27.9 million in the prior quarter. The decrease in adjusted EBITDA margin was mainly driven by lower selling prices and higher manganese ore costs.

    Raw materials and energy consumption for production

    Raw materials and energy consumption for production was $250.8 million in the fourth quarter of 2024 versus $255.1 million in the prior quarter, a decrease of 1.7%. As a percentage of sales, raw materials and energy consumption for production was 68.2% in the fourth quarter of 2024, compared to 58.8% in the third quarter. The increase in cost as a percentage of sales was driven by higher energy and raw materials costs, including manganese ore.

    For the full-year 2024, raw materials and energy consumption for production were $1,027 million, or 62.5% of sales, versus $879 million, or 53.3% of sales in 2023. The increase in these costs as a percent of sales was mainly driven by lower prices and higher energy costs.



    Net (Loss) Income Attributable to the Parent

    In the fourth quarter of 2024, net loss attributable to the parent was $46.4 million, or $(0.25) per diluted share, compared to a net income attributable to the parent of $18.8 million, or $0.10 per diluted share in the third quarter. This decrease is primarily attributable to $61.3 million recorded in impairment of the Company's cash-generating units which were not recorded in the prior period. The Company reported adjusted diluted earnings per share of $0.03 for the fourth quarter, compared with adjusted earnings per share of $0.11 per share in the prior quarter.



    For the full year 2024, net profit attributable to the parent was $5.2 million, or $0.03 per diluted share, compared to $82.7 million, or $0.43 per diluted share for the full year 2023.

    Adjusted EBITDA

    In the fourth quarter of 2024, adjusted EBITDA was $9.8 million, or 2.7% of sales, a decrease of 11.3% compared to adjusted EBITDA of $60.4 million, or 13.9% of sales, from the third quarter of 2024. This was mainly driven by higher costs and reduced pricing.

    For the full year 2024, adjusted EBITDA was $153.8 million, or 9.4% of sales, compared to adjusted EBITDA of $315.2 million, or 19.1% of sales, for the full year 2023. The reduction is largely related to lower average sales prices and an increase in energy costs.

    Total Cash, Adjusted Gross Debt and Working Capital

                 %
    ($ in millions) Q4 2024 Q3 2024 $ % Q4 2023 $Y/Y
                      
    Total Cash1 $133.3 $120.8 12.5  10.3% $137.6  (4.4) (3.2)%
    Adjusted Gross Debt2 $94.4 $89.0 5.3  6.0% $238.5  (144.1) (60.4)%
    Net Cash/ (Debt) $38.9 $31.8 7.1  22.4% $(100.9) 139.7  138.6%
    Total Working Capital3 $460.8 $528.6 (67.8) (12.8)% $510.7  (49.9) (9.8)%

    (1) Total cash is comprised of restricted cash, cash and cash equivalents

    (2) Adjusted gross debt excludes bank borrowings on factoring program and impact of leasing standard IFRS16 for each of the periods presented

    (3) Total working capital comprised of inventories, trade receivables and other receivables minus trade and other payables

    The Company's total cash was $133.3 million as of December 31, 2024, up $12.5 million from $120.8 million as of September 30, 2024.

    During the fourth quarter, the Company generated $32.1 million in cash flow from operating activities, used $4.8 million in cash flows from investing activities and used $9.9 million in cash flows from financing activities due to repayments of bank borrowings of $14.8 million, lease payments of $4.5 million, dividend payments of $2.4 million, interest payments of $2.0 million and share repurchases of $1.9 million, partially offset by cash proceeds from promissory notes of $10.3 million and sale-leaseback financing of $6.1 million.

    For the full year 2024, the Company generated $243.3 million of operating cash flow and used $66.9 million of cash in investing activities and $175.5 million in financing activities.

    Total working capital was $460.8 million on December 31, 2024, down from $528.6 million on September 30, 2024. The $67.8 million decrease in working capital balance during the quarter was due to a $60.6 million decrease in inventories, and a $37.3 million decrease in trade and other receivables, partially offset by a $30.1 million decrease in trade and other payables.

    Beatriz García-Cos, Ferroglobe's Chief Financial Officer, commented, "We achieved many of our targets in 2024, including paying off our senior secured notes and achieving a net cash positive position, which was $38.9 million, at the end of the year. We reduced our total working capital by approximately $50 million during the year and initiated our capital return program consisting of quarterly dividends and share repurchases."

    Capital Returns

    During the fourth quarter, Ferroglobe repurchased 481,578 shares at an average price of $4.02 per share and paid a quarterly cash dividend of $0.013 per share on December 20, 2024. Our next cash dividend of $0.014 per share will be paid on March 26, 2025, to shareholders of record as of March 20, 2025.

    Conference Call

    Ferroglobe invites all interested persons to participate on its conference call at 8:30 AM, Eastern Time on February 20, 2025. The call may also be accessed via an audio webcast.

    To join via phone:

    Conference call participants should pre-register using this link

    https://register.vevent.com/register/BIb6e61c804d2b45609dc3abc37310abd0

    Once registered, you will receive the dial-in numbers and a personal PIN, which are required to access the conference call.

    To join via webcast:

    A simultaneous audio webcast and replay will be accessible here:

    https://edge.media-server.com/mmc/p/frvjkywe

    About Ferroglobe

    Ferroglobe PLC is a leading global producer of silicon metal, silicon- and manganese-based specialty alloys and ferroalloys, serving a customer base across the globe in dynamic and fast-growing end markets, such as solar, electronics, automotive, consumer products, construction, and energy. The Company is based in London. For more information, visit http://investor.ferroglobe.com.

    Forward-Looking Statements

    This release contains "forward-looking statements" within the meaning of U.S. securities laws. Forward-looking statements are not historical facts but are based on certain assumptions of management and describe the Company's future plans, strategies and expectations. Forward-looking statements often use forward-looking terminology, including words such as "anticipate", "believe", "could", "estimate", "expect", "forecast", "guidance", "intends", "likely", "may", "plan", "potential", "predicts", "seek", "target", "will" and words of similar meaning or the negative thereof.

    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. Ferroglobe does not undertake any obligation to update publicly any of the forward-looking statements contained herein to reflect new information, events or circumstances arising after the date of this press release. You should not place undue reliance on any forward-looking statements, which are made only as of the date of this press 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, working capital, adjusted net profit, adjusted diluted EPS, adjusted gross debt and net cash(debt), are non-IFRS financial metrics that management uses in its decision making. Ferroglobe has included these financial metrics to provide supplemental measures of its performance. The Company believes these metrics are important and useful to investors because they eliminate items that have less bearing on the Company's current and future operating performance and highlight trends in its core business that may not otherwise be apparent when relying solely on IFRS financial measures.



    INVESTOR CONTACT:

    Alex Rotonen, CFA

    Vice President, Investor Relations

    Email: [email protected]

    MEDIA CONTACT:

    Cristina Feliu Roig

    Vice President, Communications & Public Affairs

    Email: [email protected]

     
    Ferroglobe PLC and Subsidiaries

    Unaudited Condensed Consolidated Income Statement

    (in thousands of U.S. dollars, except per share amounts)
                    
      For the Three

    Months Ended
     For the Three

    Months Ended
     For the Three

    Months Ended
     For the Twelve

    Months Ended
     For the Twelve

    Months Ended
      December 31, 2024 September 30, 2024 December 31, 2023 December 31, 2024 December 31, 2023
    Sales $367,505  $433,533  $375,951  $1,643,939  $1,650,034 
    Raw materials and energy consumption for production  (250,763)  (255,062)  (199,572)  (1,027,130)  (879,286)
    Other operating income  18,892   27,202   34,944   84,378   100,992 
    Staff costs  (70,241)  (71,885)  (79,761)  (279,864)  (305,859)
    Other operating expense  (52,289)  (74,475)  (73,071)  (265,182)  (270,090)
    Depreciation and amortization  (19,020)  (18,899)  (20,090)  (75,463)  (73,532)
    Impairment loss  (61,348)  —   (23,614)  (61,348)  (25,290)
    Other (loss) gain  (571)  189   (563)  555   (29)
    Operating (loss) profit  (67,835)  40,603   14,224   19,885   196,940 
    Finance income  3,533   829   1,100   7,248   5,422 
    Finance costs  (3,089)  (2,983)  (13,431)  (21,942)  (38,793)
    Exchange differences  15,167   (6,576)  (4,897)  13,565   (7,551)
    Profit (loss) before tax  (52,224)  31,873   (3,004)  18,756   156,018 
    Income tax benefit/(expense)  4,376   (13,301)  (4,160)  (16,252)  (57,540)
    Total (loss) profit for the period  (47,848)  18,572   (7,164)  2,504   98,478 
                    
    (Loss) profit attributable to the parent $(46,430) $18,814  $(11,118) $5,242  $82,662 
    (Loss) profit attributable to non-controlling interest  (1,418)  (242)  3,954   (2,738)  15,816 
                    
    EBITDA $(33,648) $52,926  $29,417  $108,913  $262,921 
    Adjusted EBITDA $9,845  $60,410  $60,262  $153,800  $315,198 
                    
                    
    Weighted average number of shares outstanding               
    Basic  188,072   188,325   187,872   188,145   187,872 
    Diluted  188,072   190,393   190,801   188,809   190,290 
                    
    (Loss) profit per ordinary share               
    Basic $(0.25) $0.10  $(0.06) $0.03  $0.44 
    Diluted $(0.25) $0.10  $(0.06) $0.03  $0.43 



     
    Ferroglobe PLC and Subsidiaries

    Unaudited Condensed Consolidated Statement of Financial Position

    (in thousands of U.S. dollars)
              
      As of December 31, As of September 30, As of December 31,
      2024 2024 2023
    ASSETS
    Non-current assets         
    Goodwill $14,219 $29,702 $29,702
    Intangible assets  103,095  131,183  138,345
    Property, plant and equipment  469,056  523,091  501,396
    Other financial assets  19,744  16,492  19,792
    Deferred tax assets  6,580  8,256  8,760
    Receivables from related parties  1,558  1,679  1,658
    Other non-current assets  22,451  24,288  22,156
    Total non-current assets   636,703   734,691   721,809
    Current assets         
    Inventories  347,139  407,782  383,841
    Trade receivables  188,816  233,228  220,330
    Other receivables  83,103  76,048  89,913
    Receivables from related parties  —  2,808  2,772
    Current income tax assets  7,692  7,890  15,977
    Other financial assets  5,569  3,209  2
    Other current assets  52,014  52,468  186,477
    Restricted cash and cash equivalents  298  306  1,179
    Cash and cash equivalents  132,973  120,504  136,470
    Total current assets   817,604   904,243   1,036,961
    Total assets $ 1,454,307 $ 1,638,934 $ 1,758,770
              
    EQUITY AND LIABILITIES
    Equity $ 816,105 $ 915,707 $ 869,886
    Non-current liabilities         
    Deferred income  8,014  34,619  26,980
    Provisions  24,384  25,964  19,970
    Provision for pensions  27,618  31,213  29,805
    Bank borrowings  13,911  14,207  14,913
    Lease liabilities  56,585  57,864  54,483
    Debt instruments  —  —  149,015
    Other financial liabilities  25,688  27,280  65,231
    Other non-current liabilities  13,759  6,359  1,903
    Deferred tax liabilities  19,629  31,197  32,582
    Total non-current liabilities   189,588   228,703   394,882
    Current liabilities         
    Provisions  83,132  88,986  122,757
    Provision for pensions  168  166  169
    Bank borrowings  43,251  61,474  31,635
    Lease liabilities  12,867  12,182  11,766
    Debt instruments  10,135  —  5,765
    Other financial liabilities  48,117  45,942  16,052
    Payables to related parties  2,664  2,759  2,429
    Trade and other payables  158,251  188,443  183,375
    Current income tax liabilities  10,623  7,795  8,351
    Other current liabilities  79,406  86,777  111,703
    Total current liabilities   448,614   494,524   494,002
    Total equity and liabilities $ 1,454,307 $ 1,638,934 $ 1,758,770



     
    Ferroglobe PLC and Subsidiaries

    Unaudited Condensed Consolidated Statement of Cash Flows
                    
      For the Three

    Months Ended
     For the Three

    Months Ended
     For the Three

    Months Ended
     For the Twelve

    Months Ended
     For the Twelve

    Months Ended
      December 31, 2024 September 30, 2024 December 31, 2023 December 31, 2024 December 31, 2023
    Cash flows from operating activities:               
    Profit for the period $(47,848) $18,572  $(7,164) $2,504  $98,478 
    Adjustments to reconcile net profit to net cash provided by operating activities:               
    Income tax (benefit)/expense  (4,376)  13,301   4,160   16,252   57,540 
    Depreciation and amortization  19,020   18,899   20,090   75,463   73,532 
    Finance income  (3,533)  (829)  (1,100)  (7,248)  (5,422)
    Finance costs  3,089   2,983   13,431   21,942   38,793 
    Exchange differences  (15,167)  6,576   4,897   (13,565)  7,551 
    Impairment loss  61,348   —   23,614   61,348   25,290 
    Share-based compensation  1,587   1,496   683   4,924   7,402 
    Other loss (gain)  571   (189)  562   (555)  29 
    Changes in operating assets and liabilities               
    Decrease (increase) in inventories  23,146   (5,414)  (1,746)  47   102,179 
    Decrease (increase) in trade receivables  31,756   27,018   16,439   22,765   80,766 
    Decrease (increase) in other receivables  (12,885)  (28,656)  (21,838)  770   45,692 
    Decrease (increase) in energy receivable  (5,735)  (10,508)  (33,456)  131,959   (159,807)
    (Decrease) increase in trade payables  (19,039)  (13,678)  6,483   (17,255)  (70,573)
    Other changes in operating assets and liabilities  4,936   (11,610)  16,389   (40,294)  (9,770)
    Income taxes paid  (4,776)  (6,847)  (12,701)  (15,799)  (113,308)
    Net cash provided by operating activities:  32,094   11,114   28,743   243,258   178,372 
    Cash flows from investing activities:               
    Interest and finance income received  692   766   1,349   2,799   3,725 
    Payments due to investments:               
    Intangible assets  (855)  (850)  (1,331)  (3,024)  (2,787)
    Property, plant and equipment  (17,090)  (20,302)  (24,204)  (76,165)  (83,679)
    Other financial assets  —   —   —   (3,000)  — 
    Disposals:               
    Other non-current assets  —   —   935   —   935 
    Receipt of asset-related government grant  12,453   —   —   12,453   — 
    Net cash used in investing activities  (4,800)  (20,386)  (23,251)  (66,937)  (81,806)
    Cash flows from financing activities:               
    Dividends paid  (2,436)  (2,441)  —   (9,758)  — 
    Payment for debt and equity issuance costs  (6)        (6)   
    Repayment of debt instruments  —   —   (1,050)  (147,624)  (179,075)
    Proceeds from debt issuance  10,255   —   —   10,255   — 
    Increase/(decrease) in bank borrowings:               
    Borrowings  122,809   145,804   39,239   509,186   432,274 
    Payments  (137,650)  (144,292)  (58,052)  (495,726)  (456,506)
    Payments for lease liabilities  (4,511)  (5,834)  (6,913)  (16,201)  (14,967)
    Proceeds from other financing liabilities  6,054   —   —   6,054   — 
    Other (payments) receipts from financing activities  (411)  (2,176)  (4,289)  (3,068)  (21,666)
    Payments to acquire own shares  (1,936)  (492)  —   (2,428)  — 
    Interest paid  (2,029)  (6,955)  (2,923)  (26,192)  (42,207)
    Net cash (used in) financing activities  (9,861)  (16,386)  (33,988)  (175,508)  (282,147)
    Total net increase (decrease) in cash and cash equivalents  17,433   (25,658)  (28,496)  813   (185,581)
    Beginning balance of cash and cash equivalents  120,810   144,487   165,973   137,649   322,943 
    Foreign exchange (losses) gains on cash and cash equivalents  (4,972)  1,981   172   (5,191)  287 
    Ending balance of cash and cash equivalents $133,271  $120,810  $137,649  $133,271  $137,649 
    Restricted cash and cash equivalents  298   306   1,179   298   1,179 
    Cash and cash equivalents  132,973   120,504   136,470   132,973   136,470 
    Ending balance of cash and cash equivalents $133,271  $120,810  $137,649  $133,271  $137,649 



    Adjusted EBITDA ($,000):                
               
      Q4´24 Q3´24 Q4´23 YTD´24 YTD´23
    (Loss) profit attributable to the parent $(46,430) $18,814  $(11,118) $5,242  $82,662 
    (Loss) profit attributable to non-controlling interest  (1,418)  (242)  3,954   (2,738)  15,816 
    Income tax expense  (4,376)  13,301   4,160   16,252   57,540 
    Finance income  (3,533)  (829)  (1,100)  (7,248)  (5,422)
    Finance costs  3,089   2,983   13,431   21,942   38,793 
    Depreciation and amortization charges  19,020   18,899   20,090   75,463   73,532 
    EBITDA  (33,648)  52,926   29,417   108,913   262,921 
    Exchange differences  (15,167)  6,576   4,897   (13,565)  7,551 
    Impairment  61,348   —   23,614   61,348   25,290 
    Restructuring and termination costs  (2,693)  —   —   (7,233)  5,535 
    New strategy implementation  1,629   1,413   (1,000)  5,416   973 
    Subactivity  1,457   657   2,995   3,164   12,589 
    PPA Energy  (3,081)  (1,162)  339   (4,243)  339 
    Adjusted EBITDA $9,845  $60,410  $60,262  $153,800  $315,198 



    Adjusted profit attributable to Ferroglobe ($,000):
               
      Q4´24 Q3´24 Q4´23 YTD´24 YTD´23
    (Loss) Profit attributable to the parent $(46,430) $18,814  $(11,118) $5,242  $82,662 
    Tax rate adjustment  12,059   3,271   4,959   10,349   16,039 
    Impairment  41,209   —   17,333   41,209   18,563 
    Restructuring and termination costs  (1,846)  —   —   (4,957)  4,063 
    New strategy implementation  1,116   968   (734)  3,712   714 
    Subactivity  998   450   2,198   2,168   9,240 
    PPA Energy  (2,111)  (796)  249   (2,908)  249 
    Adjusted profit attributable to the parent $4,996  $22,707  $12,888  $54,816  $131,529 



    Adjusted diluted profit per share:
               
      Q4´24 Q3´24 Q4´23 YTD´24 YTD´23
    Diluted (loss) profit per ordinary share $(0.25) $0.10  $(0.06) $0.03  $0.43
    Tax rate adjustment  0.06   0.02   0.03   0.05   0.08
    Impairment  0.22   —   0.09   0.22   0.10
    Restructuring and termination costs  (0.01)  —   —   (0.03)  0.02
    New strategy implementation  0.01   0.01   (0.00)  0.02   0.00
    Subactivity  0.01   0.00   0.01   0.01   0.05
    PPA Energy  (0.01)  (0.00)  0.00   (0.02)  0.00
    Adjusted diluted profit per ordinary share $0.03  $0.11  $0.07  $0.28  $0.68


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