Afarak Group - Earnings Release 2023

AFARAK GROUP: PRODUCTION REPORT Q1 2023

16:30 London, 18:30 Helsinki, 26 April 2023 - Afarak Group SE (“Afarak” or “the Company”) (LSE: AFRK, NASDAQ: AFAGR)

Production report Q1 2023

Afarak Group production during the first quarter of 2023 was at the same level of same quarter of previous year.



		Q1/2023	Q1/2022	Change	FY 2022

Speciality Alloys	mt	24,359	24,229	0.5%	87,734
Processing	mt	7,581	8,311	-8.8%	26,642
Mining	mt	16,778	15,918	5.4%	61,092
South African mines	mt	61,045	0	100.0%	71,271
Mining	mt	61,045	0	100.0%	71,271

Processing

The processing volumes decreased by 8.8% during the first quarter of 2023 when compared to same period of the prior year
The processing plant in Germany carried out a maintenance shutdown during the first quarter of 2023

Mining

The overall mining activity increased significantly when compared to same period of prior year
The mining activity at the Turkish mines was 5.4% higher than same period last year
The output increased in South Africa on account of the favourable market conditions

Helsinki, April 26, 2023

AFARAK GROUP SE

Board of Directors

For additional information, please contact:

Afarak Group SE

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

Main media

www.afarak.com