Ferroglobe Reports Results for Fourth Quarter and Full Year 2019

Written by Customer Service on . Posted in Public Companies.

Adjusted EBITDA of $(38.1) million in Q4 2019 and of $(37.0) million in Full Year 2019Q4 2019 results:Sales of $364.4 million compared to $381.7 million in Q3 2019, and $591.1 million in Q4 2018Net loss of $(75.7) million compared to $(140.1) million in Q3 2019, and $(74.2) million in Q4 2018Adjusted EBITDA of $(38.1) million compared to $(7.2) million in Q3 2019 and $23.2 million in Q4 2018Full Year 2019 results:Sales of $1.60 billion compared to $2.24 billion in 2018Net loss of $(288.1) million, including a goodwill impairment charge of $174.0 million, compared to a net profit of $24.6 million in 2018Adjusted net loss attributable to Parent of $(114.0) million compared to a net profit of $64.4 million in 2018Adjusted EBITDA of $(37.0) million in 2019 compared to $230.1 million in 2018Gross debt of $481 million at the end of Q4 2019, compared to $556 million at the end of Q3 2019Successful refinancings, providing additional financial flexibility and liquidityNorth American asset-based revolving credit facility closed on October 11, 2019European accounts receivable securitization program closed on December 10, 2019Operational changes implemented to the global production platform: adapting production to reduced demand and decreasing inventory levelsLONDON, March 02, 2020 (GLOBE NEWSWIRE) — Ferroglobe PLC (NASDAQ: GSM) (throughout, “Ferroglobe”, the “Company”, or the “Parent”), a leading producer globally of silicon metal, and a leading silicon- and manganese-based specialty alloys producer, today announced results for the fourth quarter and the full year 2019.Q4 2019 Earnings Highlights

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