Ferroglobe PLC (NASDAQ:GSM) Q4 2023 Earnings Conference Call February 22, 2024 8:30 AM ET Company Participants Alex Rotonen - Vice President of Investor Relations Marco Levi - Chief Executive Officer Beatriz García-Cos - Chief Financial Officer Conference Call Participants Lucas Pipes - B. Riley Securities Martin Englert - Seaport Research Partners Operator Good morning ladies and gentlemen and welcome to Ferroglobe's Fourth Quarter and Full Year 2023 Earnings Call. At this time [Operator Instructions] I wo ...

Now I would like to turn the call over to Beatriz GarcÃa-Cos, our CFO review the financial results in more detail. Silicon metal volumes was up 13% over the prior quarter. The increase in volumes in Q3 was primarily due to a stronger shipments in North America, while the clients in Silicon Alloys and manganese alloys for a result of weak end markets particularly Spain. Average realized prices lower across all product categories as a result of continued price decline in index prices. Next slide, please. Our ...

| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | |-------|-------|-------|-------|-------|-------|-------|---------------------------|-------|-------|--------------------------------|-------| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Advancing Materials Innovation | | | | | | | | | | NASDAQ: GSM | | | | | | | | | | | | | | | | | | | | | | | | | | Results August 15th, 2023 | ...

Okay. For whatever it's worth, I would like you to continue to delever considering the uncertainty of -- from an economic point of view going forward for whatever that's worth. Let me ask you one other shareholder question. There's virtually very little ownership or if you look at your shareholder base, you have some hedge funds, that type of thing. But as far as being part of any kind of environmental, social, governance or solar, there's -- I don't think there's any coverage at all and you've hired a new ...

Ferroglobe PLC (NASDAQ:GSM) Q1 2023 Earnings Conference Call May 9, 2023 8:30 AM ET Company Participants Marco Levi - CEO Beatriz García-Cos - CFO Anis Barodawalla - VP, IR Conference Call Participants Lucas Pipes - B. Riley Securities Martin Englert - Seaport Research Partners Operator Good morning, ladies and gentlemen, and welcome to Ferroglobe's First Quarter 2023 Earnings Call. At this time, all participants are in a listen-only mode. Later we will conduct a question-and-answer session, and instruction ...

Sales Performance - Sales increased by $819,008 thousand, or 46.0%, from $1,778,908 thousand in 2021 to $2,597,916 thousand in 2022, primarily due to higher average realized prices despite a decrease in tonnes sold[369]. - Silicon metal sales revenue rose by 75%, with average selling prices increasing by 112.3% to $5,332/MT in 2022, while total shipments decreased by 17.6% due to weak demand in Europe[370]. - Silicon-based alloys sales revenue increased by 50.9%, with average selling prices rising by 79.5% to $3,694/MT in 2022, and total shipments decreased by 15.9% driven by weak demand from steel manufacturers[371]. - Manganese-based alloys sales revenue increased by 12%, with average selling prices rising by 19.2% to $1,778/MT in 2022, while total shipments decreased by 6% due to production adjustments in Spain[372]. - Sales increased by $301,181 thousand, or 81.4%, from $370,109 thousand in 2021 to $671,290 thousand in 2022, primarily due to higher average realized selling prices and the restart of the Selma facility[389]. - Sales in Europe - Manganese increased by $224,853 thousand, or 47.2%, from $476,287 thousand in 2021 to $701,140 thousand in 2022, driven by a 19.2% increase in average selling prices[406]. - Sales in South Africa increased by $4,733 thousand, or 37.6%, from $12,604 thousand in 2021 to $17,337 thousand in 2022, driven by improved demand and market conditions[430]. - Sales in the South Africa Silicon Alloys segment increased by $17,671 thousand, or 16.9%, from $104,591 thousand in 2021 to $122,262 thousand in 2022[438]. - Sales in other segments increased by $37,992 thousand, or 87.2%, from $43,568 thousand in 2021 to $81,560 thousand in 2022, primarily due to increased selling prices[446]. Operating Income and Expenses - Other operating income increased by $37,271 thousand, or 33.9%, to $147,356 thousand in 2022, mainly due to energy compensation received from the French energy provider EDF[374]. - Other operating income increased by $1,375 thousand, or 27.0%, from $5,089 thousand in 2021 to $6,464 thousand in 2022, mainly due to gains from CO2 emission rights and increased scrap sales[391]. - Other operating expenses rose by $11,486 thousand, or 51.7%, from $22,222 thousand in 2021 to $33,708 thousand in 2022, primarily due to inflationary pressures and the Selma facility restart[393]. - Other operating income in Europe - Silicon Metals increased by $27,427 thousand, or 56.2%, from $48,828 thousand in 2021 to $76,255 thousand in 2022, primarily due to energy compensation received in France[416]. - Other operating income in South Africa decreased by $122 thousand, or 43.9%, from $278 thousand in 2021 to $156 thousand in 2022[432]. - Other operating income in the South Africa Silicon Alloys segment decreased by $419 thousand, or 86.4%, from $485 thousand in 2021 to $66 thousand in 2022[440]. Costs and Expenses - Raw materials and energy consumption for production increased by $100,190 thousand, or 8.5%, to $1,285,086 thousand in 2022, with raw materials and energy consumption as a percentage of sales at 49% compared to 67% in 2021[373]. - Raw materials and energy consumption for production rose by $39,892 thousand, or 15.0%, from $265,653 thousand in 2021 to $305,545 thousand in 2022, driven by higher raw material costs[390]. - Staff costs rose by $33,893 thousand, or 12.1%, to $314,810 thousand in 2022, primarily due to the restart of the facility in Selma, Alabama[375]. - Staff costs increased by $10,215 thousand, or 20.0%, from $51,163 thousand in 2021 to $61,378 thousand in 2022, attributed to the Selma facility start-up and higher medical insurance expenses[392]. - Staff costs in Europe - Silicon Alloys increased by $7,788 thousand, or 18.2%, from $42,679 thousand in 2021 to $50,467 thousand in 2022, driven by higher variable remuneration linked to improved results[425]. - Staff costs in South Africa increased by $194 thousand, or 12.6%, from $1,542 thousand in 2021 to $1,736 thousand in 2022, primarily due to a higher number of employees following the restart of the Polokwane facility[433]. - Other operating expenses rose by $164,750 thousand, or 124.8%, from $132,059 thousand in 2020 to $296,809 thousand in 2021, mainly driven by CO2 emissions provisions[465]. - Staff costs increased by $66,135 thousand, or 30.8%, from $214,782 thousand in 2020 to $280,917 thousand in 2021, primarily due to restructuring provisions and higher variable considerations[464]. Financial Performance - Finance costs decreased by $88,174 thousand, or 59.1%, to $61,015 thousand in 2022, primarily due to an accounting charge related to Senior Notes refinancing in 2021[384]. - Finance costs increased by $82,221 thousand, or 122.8%, from $66,968 thousand in 2020 to $149,189 thousand in 2021, primarily due to an accounting charge related to Senior Notes refinancing[471]. - Income tax expense increased by $152,545 thousand, from an income tax benefit of $4,562 thousand in 2021 to an expense of $147,983 thousand in 2022, primarily due to taxes recorded in the U.S., France, and Canada[386]. - Income tax expense variation amounted to $26,501 thousand, or 120.8%, from an expense of $21,939 thousand in 2020 to a benefit of $4,562 thousand in 2021, mainly due to tax assets recorded in relation to a carryback credit[476]. Impairment and Depreciation - Impairment losses increased by $32,846 thousand, from a loss of $376 thousand in 2021 to a loss of $33,222 thousand in 2022, related to facilities in Spain and Norway[412]. - Impairment loss rose by $25,573 thousand, from a loss of $455 thousand in 2021 to a loss of $26,028 thousand in 2022, with significant impairments recognized at facilities in France and Spain[428]. - Impairment losses in other segments increased by $3,784 thousand, or 218.7%, from $1,730 thousand in 2021 to $5,514 thousand in 2022, mainly due to the solar-grade silicon metal project in Spain[452]. - Depreciation and amortization charges decreased by $6,781 thousand, or 16.7%, from $40,489 thousand in 2021 to $33,708 thousand in 2022, due to assets becoming fully depreciated[396]. - Depreciation and amortization charges in the South Africa Silicon Alloys segment increased by $743 thousand, or 16.4%, from $4,535 thousand in 2021 to $5,278 thousand in 2022, reflecting higher depreciation in leases[443]. - Depreciation and amortization charges decreased by $10,861 thousand, or 10.0%, from $108,189 thousand in 2020 to $97,328 thousand in 2021, due to a significant number of assets becoming fully depreciated[466]. - Impairment losses decreased by $73,481 thousand, or 100.2%, from a loss of $73,344 thousand in 2020 to a gain of $137 thousand in 2021, reflecting a reversal of previous impairments[467]. Liquidity and Financing - The company’s primary sources of long-term liquidity include senior secured notes totaling $345,058 thousand at an interest rate of 9.375%, due on June 30, 2025[550]. - In 2022, the company signed a $100 million ABL Revolver, which is currently undrawn, to enhance liquidity[550]. - The company experienced significant inflationary pressures in 2022, impacting costs, but management believes the impact was not material to operations in 2021 and 2020[547]. Segment Reporting - The company revised its operating segments to reflect current management reporting, now reporting results in five segments: North America - Silicon Metals, North America - Silicon Alloys, Europe - Manganese, Europe - Silicon Metals, and Europe - Silicon Alloys[387].

• Volumes decreased 22% Q/Q primarily due to weak demand in chemicals and aluminum in Europe • Energy compensation in France of $31.5m and CO2 compensation of $7.5m provided a benefit, partially offset by higher energy costs of $9.8m and higher raw material of $6.8m • Outlook. Chemicals and aluminum markets are at trough levels, expect improvement in Q2 5 PRODUCT CATEGORY SNAPSHOT Silicon-Based Alloys 500 1,500 2,500 3,500 4,500 5,500 FeSi US CRU spot - import FeSi EU CRU spot Volume trends Volumes decrease ...

REPORT OF FOREIGN PRIVATE ISSUER Pursuant to Rule 13a-16 or 15d-16 under the Securities Exchange Act of 1934 For the Month of February 2023 Commission File Number: 001-37668 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 6-K Form 20-F ☒ Form 40-F ☐ Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ☐ Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T ...

Ferroglobe PLC (NASDAQ:GSM) Q3 2022 Earnings Conference Call November 16, 2022 8:30 AM ET Company Participants Anis Barodawalla - VP, IR Javier López Madrid - Executive Chairman Beatriz GarcÃa-Cos - CFO & Principal Accounting Officer Benjamin Crespy - COO Craig Arnold - Chief Commercial Officer and EVP, Sales & Marketing Benoist Ollivier - Deputy CEO, Chief Technology & Innovation Officer Conference Call Participants Lucas Pipes - B. Riley Securities Martin Englert - Seaport Research Partners Michael Lam - ...

Ferroglobe Plc (NASDAQ:GSM) Q2 2022 Earnings Conference Call August 16, 2022 8:30 AM ET Company Participants Marco Levi - Chief Executive Officer Beatriz Garcia-Cos - Chief Financial Officer Benjamin Crespy - Chief Operating Officer Benoist Ollivier - Chief Technology and Innovation Officer Gaurav Mehta - Executive Vice President, Investor Relations Conference Call Participants Martin Englert - Seaport Research Partners Brian DiRubbio - Baird Thomas Murphy - Odeon Capital Group Gregory Bennett - Morgan Stan ...