Graftech International Ltd. · NYSE:EAF
Graftech International — Q3 2025 Earnings Presentation
22 slides from Graftech International's earnings presentation, Oct 24, 2025
Slide 1: Q3 2025 Results
Q3 2025 Results October 24, 2025 NYSE: EAF www.graftech.com
Slide 2: Today's Presenters
Today’s Presenters Tim Flanagan Rory O’Donnell Chief Executive Officer Chief Financial Officer and President and Senior Vice President 2
Slide 3: Forward-Looking Statements
Forward-Looking Statements CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS: This presentation and related discussions may contain forward-looking statements within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements
Slide 4: Ongoing Momentum
GrafTech’s Third Quarter Performance Demonstrates Ongoing Momentum Grew total sales volume 9% year-over-year; 8% growth year-to-date Achieved 53% year-over-year volume growth in the United States Delivered 10% year-over-year decline in cash costs per metric ton Generated positive EBITDA and cash flo
Slide 5: Steel Industry Trends
Steel Industry Trends Geopolitical uncertainty, particularly as it relates to global trade and tariffs, continues to have a significant impact on broader steel industry trends (1) Q3 2025 global steel production, excluding China, of 206 million tons versus 203 million tons in Q3 2024 Steel Capac
Slide 6: Global Steel Industry – Potential Near-term Catalysts
Global Steel Industry – Potential Near-term Catalysts “This positive outlook is Easing geopolitical tensions CBAM implementation underpinned by the demonstrated resilience of the global economy, continued strength in public infrastructure investments … Infrastructure investments Construction spendin
Slide 7: Prioritizing Safety
Prioritizing Safety Total Recordable Incident Rate (“TRIR”)(1) 0.94 0.61 0.59 0.33 2022 2023 2024 Q3 YTD 2025 (1) TRIR measured per 200,000 hours worked. 7
Slide 8: Production and Sales
Production and Sales Q3 2025 production volume up 37% and sales volume up 9% compared to Q3 2024 On a full-year basis, our expectation remains to balance our production and sales volume levels Q3 2025 net sales up 10% compared to Q3 2024, as the recognition of previously deferred revenue as we
Slide 9: Significant Improvement in Cost Performance
Significant Improvement in Cost Performance Cash Cost of Goods Sold per MT(1) $5,863 Identifying and executing $5,537 cost reduction opportunities: $4,197 $3,795 $4,290 • Reducing raw material consumption $3,738 • Optimizing energy efficiency • Enhancing procurement strategies • Reducing fixed cost
Slide 10: Earnings and Cash Flow
Earnings and Cash Flow (1) (2) Q3 2025 net loss of $28 million, or $1.10 per share , and adjusted EBITDA of $13 million (2) Q3 2025 net cash provided by operating activities of $25 million and adjusted free cash flow of $18 million (2) Q3 2025 cash cost of goods sold per MT declined 10% year-o
Slide 11: Liquidity and Debt Maturity Profile
Liquidity and Debt Maturity Profile Liquidity of $384 million as of September 30, 2025 continues to support our ability to manage through the near-term, industry-wide challenges Substantially no debt maturities until December 2029 Liquidity Debt Maturity Profile (in millions) (in millions) 11
Slide 12: Delivering on Initiatives to Meet Our Key Objectives
Delivering on Initiatives to Meet Our Key Commercial, Operational and Financial Objectives Leveraging our strong customer value proposition to drive volume and market 1 share growth Optimizing order book by strategically shifting the geographic mix of our sales 2 volume to regions with higher pricin
Slide 13: Long-term Industry Tailwinds
GrafTech Remains Well-positioned to Benefit from Long-term Industry Tailwinds Long-term Industry Tailwinds Shift to electric arc furnace (“EAF”) steelmaking expected to continue, driven by decarbonization efforts, resulting in further graphite electrode demand growth Synthetic graphite and needl
Slide 14: Why GrafTech?
Why GrafTech? An Industry Leader in the Production of High-Quality Graphite Electrodes Graphite electrodes are essential to the operation of an EAF Reflecting environmental benefits, growth in EAF steelmaking expected to continue outpacing integrated steelmaking Sustainable Competitive Advantage
Slide 15: Appendix
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Slide 16: Non-GAAP Financial Measures
Non-GAAP Financial Measures In addition to providing results that are determined in accordance with GAAP, we have provided certain financial measures that are not in accordance with GAAP. EBITDA, adjusted EBITDA, adjusted net loss, adjusted loss per share, free cash flow, adjusted free cash flow and
Slide 17: Reconciliation to Adjusted Net Loss
Reconciliation to Adjusted Net Loss Three Months Ended Sept 30, June 30, Mar 31, Dec 31, Sept 30, ($ in thousands) 2025 2025 2025 2024 2024 Net loss $ (28,482) $ (86,886) $ (39,351) $ (49,476) $ (36,068) Adjustments, pre-tax: Pension and OPEB plan expenses(1) 719 633 628 967 479 Rationalization expe
Slide 18: Reconciliation to Adjusted Loss Per Share
Reconciliation to Adjusted Loss Per Share Three Months Ended Sept 30, June 30, Mar 31, Dec 31, Sept 30, 2025 2025 2025 2024 2024 Loss per share $ (1.10) $ (3.35) $ (1.52) $ (1.92) $ (1.40) Adjustments per share, pre-tax: Pension and OPEB plan expenses(1) 0.03 0.03 0.02 0.04 0.01 Rationalization expe
Slide 19: Reconciliation to Adjusted EBITDA
Reconciliation to Adjusted EBITDA Three Months Ended Sept 30, June 30, Mar 31, Dec 31, Sept 30, ($ in thousands) 2025 2025 2025 2024 2024 Net loss $ (28,482) $ (86,886) $ (39,351) $ (49,476) $ (36,068) Add: Depreciation and amortization 16,499 15,562 13,783 16,110 17,933 Interest expense 24,517 25,4
Slide 20: Reconciliation to Adjusted Free Cash Flow
Reconciliation to Adjusted Free Cash Flow Three Months Ended Sept 30, June 30, Mar 31, Dec 31, Sept 30, ($ in thousands) 2025 2025 2025 2024 2024 Net cash provided by (used in) operating activities $ 24,700 $ (53,236) $ (32,186) $ (26,417) $ 23,709 Capital expenditures (6,324) (3,909) (10,281) (12,7
Slide 21: Reconciliation to Cash Cost of Goods Sold per MT
Reconciliation to Cash Cost of Goods Sold per MT Nine Months Three Months Ended Year Ended Ended Sept 30, June 30, Mar 31, Dec 31, Sept 30, June 30, Mar 31, Dec 31, Sept 30, Dec 31, Dec 31, Sept 30, ($ in thousands, except per MT amounts) 2025 2025 2025 2024 2024 2024 2024 2023 2023 2024 2023 2025 C
Slide 22: GrafTech International Ltd. Contact Information
Ticker: EAF (NYSE) GrafTech International Ltd. Website: www.graftech.com 982 Keynote Circle Contact: Michael Dillon Email: investor.relations@graftech.com Brooklyn Heights, Ohio 44131 Phone: 1.216.676.2000
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