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Afarak Group
Earnings Release • Oct 29, 2021
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Earnings Release
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National Storage Mechanism | Additional information
13:00 London, 15:00 Helsinki, 29 October 2021 - Afarak Group Plc (“Afarak” or “the Company”) (LSE: AFRK, NASDAQ: AFAGR)
Production report Q3 2021
Afarak’s speciality segment output shows net signs of improvement. The overall Afarak Group production during the third quarter of 2021 was lower compared to same quarter of prior year, mainly due to the divestment of major South African assets.
| Q3/2021 | Q3/2020 | Change | FY 2020 | ||||
| Group production | mt | 31,568 | 43,121 | -26.8% | 214,775 | ||
| Mining | mt | 26,273 | 41,762 | -37.1% | 184,779 | ||
| Processing | mt | 5,295 | 1,359 | 289.6% | 29,997 | ||
| Speciality Alloys production | mt | 23,716 | 17,440 | 36.0% | 89,715 | ||
| Mining | mt | 18,421 | 16,081 | 14.5% | 73,306 | ||
| Processing | mt | 5,295 | 1,359 | 289.6% | 16,409 | ||
| FerroAlloys production | mt | 7,852 | 25,681 | -69.4% | 125,060 | ||
| Mining | mt | 7,852 | 25,681 | -69.4% | 111,472 | ||
| Processing | mt | 0 | 0 | 0.0% | 13,588 | ||
Mining
- The Turkish mines continued to increase their mining activity during the third quarter of 2021 by 14.5%, when compared to last year.
- The mining activity at the South African mines were clearly reduced due to the divestments of major assets within these mines.
Processing
- The improved market conditions as well as higher demand, resulted in a significant increase in production volumes at EWW processing plant in Germany during the third quarter of 2021.
Helsinki, October 29, 2021
AFARAK GROUP PLC
Board of Directors
For additional information, please contact:
Afarak Group Plc
Guy Konsbruck, CEO, +356 2122 1566, [email protected]
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
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