Business
Ferroglobe Reports Results for Fourth Quarter and Full Year 2019
Adjusted EBITDA of $(38.1) million in Q4 2019 and of $(37.0) million in Full Year 2019 Q4 2019 results: Sales of $364.4 million compared to $381.7 million in
About this update from Ferroglobe Plc
[{"type":"text","content":"Adjusted EBITDA of $(38.1) million in Q4 2019 and of $(37.0) million in Full Year 2019\n Q4 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 2018 Full 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 2018 Gross 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 liquidity North American asset-based revolving credit facility closed on October 11, 2019European accounts receivable securitization program closed on December 10, 2019 Operational changes implemented to the global production platform: adapting production to reduced demand and decreasing inventory levels LONDON, 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 In Q4 2019, Ferroglobe posted a net loss of $(75.7) million, or $(0.44) per share on a fully diluted basis. On an adjusted basis, Q4 2019 net loss was $(53.8) million, or $(0.32) per share on a fully diluted basis. Q4 2019 reported EBITDA was $(56.2) million, up from $(183.1) million in the prior quarter. On an adjusted basis, Q4 2019 EBITDA was $(38.1) million, down from Q3 2019 adjusted EBITDA of $(7.2) million. The Company reported an adjusted EBITDA margin of -10.5% for Q4 2019, compared to an adjusted EBITDA margin of -1.9% for Q3 2019. Full Year 2019 Earnings Highlights For Full Year 2019, Ferroglobe posted a net loss of $(288.1) million, or $(1.67) per share. On an adjusted basis, Full Year 2019 net loss was $(114.0) million, or...