AFARAK GROUP: PRODUCTION REPORT Q3 2023
November 03 2023 - 10:05AM
AFARAK GROUP: PRODUCTION REPORT Q3 2023
15:00 London, 17:00 Helsinki, 3 November 2023 - Afarak Group SE
(“Afarak” or “the Company”) (LSE: AFRK, NASDAQ: AFAGR)
Production report Q3 2023
Afarak Group production during the third quarter of 2023 was
higher when compared to same period of last year. In Q3 2022 we
carried out extensive maintenance work, and this year we are almost
back to the 2021 output. The market has weakened mainly in Europe
(both demand- and margin wise) during Q3 2023, as expected and
announced before.
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Q3/2023 |
Q3/2022 |
Change |
Q1-Q3/ 2023 |
Q1-Q3/ 2022 |
Change |
FY 2022 |
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Speciality Alloys |
mt |
22,305 |
17,790 |
25.4% |
69,302 |
64,084 |
8.1% |
87,734 |
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Processing |
mt |
4,998 |
4,417 |
13.2% |
18,528 |
21,062 |
-12.0% |
26,642 |
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Mining |
mt |
17,307 |
13,373 |
29.4% |
50,775 |
43,022 |
18.0% |
61,092 |
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South African mines |
mt |
61,904 |
17,545 |
252.8% |
191,407 |
27,005 |
608.8% |
71,271 |
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Mining |
mt |
61,904 |
17,545 |
252.8% |
191,407 |
27,005 |
608.8% |
71,271 |
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Processing
- The processing
volumes increased by 13.2% during the third quarter of 2023 when
compared to same period of the prior year.
- The processing
plant in Germany produced throughout the three-month period. Afarak
has not produced during October 2023, in order to adapt production
to actual sales. The furnaces were restarted on October 31st,
2023.
Mining
- A substantial
increase in the overall mining activity when compared to same
period of prior year.
- Mining
operations at the Turkish mines was 29.4% higher than same period
last year. Similarly to above, we carried out maintenance work in
Q3 2022 and are now back to 2021 output.
- The output
increased further in South Africa on account of the favourable
market conditions, whilst our activity is still comparatively
small.
Helsinki, November 3, 2023
AFARAK GROUP SE
Board of Directors
For additional information, please contact:
Afarak Group SE
Guy Konsbruck, CEO, +356 2122
1566, guy.konsbruck@afarak.com
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 HelsinkiLondon Stock ExchangeMain
media
www.afarak.com
- Afarak_Production report_2023_Q3_EN
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