Graftech International Ltd. · NYSE:EAF
Graftech International — Q2 2025 Earnings Presentation
20 slides from Graftech International's earnings presentation, Jul 25, 2025
Slide 1: Q2 2025 Results
Q2 2025 Results July 25, 2025 NYSE: EAF www.graftech.com
Slide 2: Today’s Presenters
Today’s Presenters Tim Flanagan Jeremy Halford Rory O’Donnell Chief Executive Officer Executive Vice President, Chief Financial Officer and President Chief Operating Officer 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: GrafTech’s Second Quarter Performance Demonstrates Building Momentum
GrafTech’s Second Quarter Performance Demonstrates Building Momentum Grew sales volume 12% year-over-year and 16% sequentially compared to Q1 2025 Capacity utilization rate increased to 65%; highest level since Q3 2022 Achieved 13% year-over-year decline in cash costs per metric ton Generated positi
Slide 5: Delivering on Initiatives to Meet Our Key Commercial, Operational and Financial 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 6: Prioritizing Safety
Prioritizing Safety Total Recordable Incident Rate (“TRIR”)(1) 0.94 0.61 0.59 0.33 2022 2023 2024 Q2 YTD 2025 (1) TRIR measured per 200,000 hours worked. 6
Slide 7: 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) ▪ Q2 2025 global steel production, excluding China, of 210 million tons versus 212 million tons in Q2 2024 Steel Capac
Slide 8: Production and Sales
Production and Sales ▪ Q2 2025 production volume up 10% and sales volume up 12% compared to Q2 2024 ▪ Q2 2025 net sales down 4% compared to Q2 2024 as higher sales volume was offset by lower weighted-average realized prices Production Volume Sales Volume Net Sales (in thousands of metric tons (“MT”)
Slide 9: Earnings and Cash Flow
Earnings and Cash Flow (1) (2) ▪ Q2 2025 net loss of $87 million, or $0.34 per share , and adjusted EBITDA of $3 million (2) ▪ Q2 2025 net cash used in operating activities of $53 million and adjusted free cash flow of negative $53 million (2) ▪ Q2 2025 cash costs on a per MT basis declined 13% year
Slide 10: Liquidity and Debt Maturity Profile
Liquidity and Debt Maturity Profile ▪ Liquidity of $367 million as of June 30, 2025 ▪ Our strong liquidity position continues to support our ability to manage through the near-term, industry-wide challenges ▪ Substantially no debt maturities until December 2029 Liquidity Debt Maturity Profile (in mi
Slide 11: GrafTech Remains Well-positioned to Benefit from Long-term Industry Tailwinds
GrafTech Remains Well-positioned to Benefit from Long- term Industry Tailwinds Long-term Industry Tailwinds: ▪ Shift to electric arc furnace (“EAF”) steelmaking expected to continue, driven by decarbonization efforts, resulting in further graphite electrode demand growth ▪ United States steel market
Slide 12: Why GrafTech?
Why GrafTech? An Industry Leader in the Production of High-Quality Graphite Electrodes ▪ Graphite electrodes are essential to the operation of an EAF ▪ Reflecting environmental benefits, growth in EAF steelmaking expected to continue outpacing integrated steelmaking Sustainable Competitive Advantage
Slide 13: Appendix
Appendix 13
Slide 14: Non-GAAP Financial Measures
Non-GAAP Financial Measures In addition to providing results that are determined in accordance with GAAP, we have provided certain financial measures that are not in accordance with GAAP. EBITDA, adjusted EBITDA, adjusted net loss, adjusted loss per share, free cash flow, adjusted free cash flow and
Slide 15: Reconciliation to Adjusted Net Loss
Reconciliation to Adjusted Net Loss Three Months Ended June 30, Mar 31, Dec 31, Sept 30, June 30, ($ in thousands) 2025 2025 2024 2024 2024 Net loss $ (86,886) $ (39,351) $ (49,476) $ (36,068) $ (14,752) Adjustments, pre-tax: Pension and OPEB plan expenses(1) 633 628 967 479 477 Rationalization expe
Slide 16: Reconciliation to Adjusted Loss Per Share
Reconciliation to Adjusted Loss Per Share Three Months Ended June 30, Mar 31, Dec 31, Sept 30, June 30, 2025 2025 2024 2024 2024 Loss per share $ (0.34) $ (0.15) $ (0.19) $ (0.14) $ (0.06) Adjustments per share, pre-tax: Pension and OPEB plan expenses(1) - 0.01 - - - Rationalization expenses(2) - -
Slide 17: Reconciliation to Adjusted EBITDA
Reconciliation to Adjusted EBITDA Three Months Ended June 30, Mar 31, Dec 31, Sept 30, June 30, ($ in thousands) 2025 2025 2024 2024 2024 Net loss $ (86,886) $ (39,351) $ (49,476) $ (36,068) $ (14,752) Add: Depreciation and amortization 15,562 13,783 16,110 17,933 14,319 Interest expense 25,418 29,8
Slide 18: Reconciliation to Adjusted Free Cash Flow
Reconciliation to Adjusted Free Cash Flow Three Months Ended June 30, Mar 31, Dec 31, Sept 30, June 30, ($ in thousands) 2025 2025 2024 2024 2024 Net cash (used in) provided by operating activities $ (53,236) $ (32,186) $ (26,417) $ 23,709 $ (36,855) Capital expenditures (3,909) (10,281) (12,792) (4
Slide 19: Reconciliation to Cash Cost of Goods Sold per MT
Reconciliation to Cash Cost of Goods Sold per MT Three Months Ended Year Ended June 30, Mar 31, Dec 31, Sept 30, June 30, Dec 31, ($ in thousands, except per MT amounts) 2025 2025 2024 2024 2024 2024 Cost of goods sold $ 129,885 $ 110,765 $ 131,698 $ 134,885 $ 131,970 $ 533,757 Less: Depreciation an
Slide 20: GrafTech International Ltd. 982 Keynote Circle Brooklyn Heights, Ohio 44131
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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