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Ferroglobe(GSM) - 2023 Q1 - Quarterly Report
2023-02-22 22:02
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(GSM) - 2022 Q3 - Earnings Call Transcript
2022-11-16 18:30
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(GSM) - 2022 Q2 - Earnings Call Transcript
2022-08-16 16:19
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 ...
Ferroglobe(GSM) - 2022 Q1 - Earnings Call Presentation
2022-05-12 17:56
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | |-------|-------|-------|-------|-------|-------|-------|-------|--------------------------------|-------| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Advancing Materials Innovation | | | | | | | | | | | NASDAQ: GSM | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | First Quarter 2022 | | | | | | | | | | | ...
Ferroglobe(GSM) - 2022 Q1 - Earnings Call Transcript
2022-05-11 18:29
Ferroglobe PLC (NASDAQ:GSM) Q1 2022 Earnings Conference Call May 11, 2022 8:30 AM ET Company Participants Gaurav Mehta - Executive Vice President of Corporate Strategy, Technology, and Investor Relations Marco Levi - Chief Executive Officer Beatriz GarcÃa-Cos Muntañola - Chief Financial Officer Benoist Ollivier - Chief Operating Officer and Deputy CEO Conference Call Participants Martin Englert - Seaport Research Brian DiRubbio - Baird Neill Morgan - BlueBay Operator Good morning, ladies and gentlemen, and ...
Ferroglobe(GSM) - 2021 Q4 - Annual Report
2022-05-02 21:01
Sales Performance - Sales increased by $634,474 thousand, or 55.4%, from $1,144,434 thousand in 2020 to $1,778,908 thousand in 2021, attributed to increased volumes and average realized prices across all product categories [416]. - Silicon metal sales volume increased by 22.5%, with average selling prices rising by 12.4% to $2,511/MT in 2021, compared to $2,234/MT in 2020 [417]. - Silicon-based alloys sales volume increased by 21.3%, with average selling prices increasing by 35.8% to $2,058/MT in 2021, compared to $1,899/MT in 2020 [418]. - Manganese-based alloys sales volume increased by 20.2%, with average selling prices rising by 46% to $1,492/MT in 2021, compared to $1,022/MT in 2020 [419]. - Sales increased by $99,531 thousand, or 23.4%, from $425,277 thousand in 2020 to $524,808 thousand in 2021, driven by higher market prices and strong customer demand [440]. - Sales in Europe - Manganese increased by $236,145 thousand, or 98.3%, from $240,142 thousand in 2020 to $476,287 thousand in 2021, driven by a 20.2% increase in both domestic sales and exports [448]. - Sales in Europe - Silicon rose by $197,629 thousand, or 42.3%, from $467,728 thousand in 2020 to $665,337 thousand in 2021, attributed to a 22.5% increase in both domestic sales and exports [457]. - Sales increased by $36,623 thousand, or 45.5%, from $80,572 thousand in 2020 to $117,195 thousand in 2021, driven by improved demand and market conditions in South Africa [466]. - Sales in other segments increased by $18,234 thousand, or 72.0%, from $25,334 thousand in 2020 to $43,568 thousand in 2021, driven by increased demand and prices due to supply constraints [474]. Operating Income and Expenses - Other operating income increased by $76,458 thousand, or 227.4%, from $33,627 thousand in 2020 to $110,085 thousand in 2021, mainly due to CO2 emissions allowances, which increased in market value by 130.5% [423]. - Other operating income increased by $2,469 thousand, or 84.6%, from $2,916 thousand in 2020 to $5,385 thousand in 2021, mainly due to gains on CO2 emission rights [442]. - Other operating income surged by $632 thousand, or 482.4%, from $131 thousand in 2020 to $763 thousand in 2021, mainly due to sundry sales from the idle Polokwane plant [468]. - Other operating expenses increased by $164,750 thousand, or 124.7%, from $132,059 thousand in 2020 to $296,809 thousand in 2021, mainly due to CO2 emissions provisions [425]. - Other operating expense decreased by $842 thousand, or 6.0%, from $14,098 thousand in 2020 to $13,256 thousand in 2021, due to the recovery of operating expenses following the closure of the Polokwane facility [470]. Staff Costs - 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 [424]. - Staff costs increased by $8,475 thousand, or 11.5%, from $73,988 thousand in 2020 to $82,463 thousand in 2021, attributed to a higher number of employees and adjustments to the Pension Plan [442]. - Staff costs increased by $2,255 thousand, or 20.5%, from $11,013 thousand in 2020 to $13,268 thousand in 2021, primarily due to inflationary adjustments and accrued incentive bonuses [469]. - Staff costs in other segments increased by $14,059 thousand, or 82%, from $17,144 thousand in 2020 to $31,203 thousand in 2021, mainly due to higher personnel needs for the restart of the second furnace in Argentina [477]. - Staff costs decreased by $9,320 thousand, or 45.8%, from $20,333 thousand in 2019 to $11,013 thousand in 2020, attributed to staffing adjustments related to the Polokwane plant shutdown [539]. - Staff costs in other segments decreased by $20,784 thousand, or 54.8%, from $37,928 thousand in 2019 to $17,144 thousand in 2020, due to redundancy payments and further headcount reductions [549]. Financial Performance - Finance costs surged by $82,221 thousand, or 122.7%, from $66,968 thousand in 2020 to $149,189 thousand in 2021, primarily due to Senior Notes refinancing [431]. - 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 [436]. - The company recognized an impairment of $73,344 thousand in 2020, with significant amounts attributed to idled facilities in the U.S. ($35,685 thousand) and Europe ($17,941 thousand) [497]. - 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 [427]. - Net gain in the value of assets was $758 thousand in 2021, compared to a net loss of $158 thousand in 2020 [428]. - Impairment losses decreased by $11,361 thousand, or 130.9%, from a loss of $8,677 thousand in 2020 to a gain of $2,684 thousand in 2021, due to the partial reversal of the 2020 impairment [472]. Cash Flow and Liquidity - Operating activities generated a cash flow of ($1,341) thousand in 2021, compared to $154,268 thousand in 2020, mainly due to increases in inventories and receivables [571]. - As of December 31, 2021, Ferroglobe had cash, restricted cash, and cash equivalents totaling $116,663 thousand, a decrease from $131,557 thousand as of December 31, 2020 [572][584]. - Total gross financial debt increased to $618,552 thousand as of December 31, 2021, compared to $551,547 thousand in the previous year [573]. - Working capital position improved to $464,870 thousand as of December 31, 2021, up from $339,610 thousand in 2020, driven by increases in inventories and receivables [577]. - Cash flows from operating activities turned negative at $(1,341) thousand for the year ended December 31, 2021, a significant decrease from a positive $154,268 thousand in 2020 [585]. - Cash flows from investing activities improved, with outflows decreasing to $(23,848) thousand in 2021 from $(31,940) thousand in 2020, reflecting reduced capital expenditures [586]. - Cash flows from financing activities shifted to a net inflow of $10,452 thousand in 2021, compared to a net outflow of $(113,333) thousand in 2020, primarily due to refinancing and new equity issuance [587]. - Capital expenditures for the year ended December 31, 2021, were $27,597 thousand, down from $30,257 thousand in 2020 [578]. - The company anticipates generating sufficient cash to meet both short and long-term liquidity needs [574]. - Ferroglobe paid no dividends during the years ended December 31, 2021, and 2020 [584].
Ferroglobe(GSM) - 2021 Q4 - Earnings Call Presentation
2022-03-04 21:52
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | |-------|-------|-------|-------|-------|-------|-------|---------------|------------------------------------|-------|-------| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Advancing Materials Innovation | | | | | | | | | | | NASDAQ: GSM | | | | | | | | | | | | | | | | | | | | | | | | March 3, 2022 | Fourth Quarter and Full Year 2021 | | | | | | | | ...
Ferroglobe(GSM) - 2021 Q4 - Earnings Call Transcript
2022-03-03 18:51
Ferroglobe PLC (NASDAQ:GSM) Q4 2021 Earnings Conference Call March 3, 2022 8:30 AM ET Company Participants Gaurav Mehta – Executive Vice President-Investor Relations Marco Levi – Chief Executive Officer Beatriz García-Cos – Chief Financial Officer Benoist Ollivier – Chief Operating Officer and Deputy Chief Executive Officer Conference Call Participants Martin Englert – Seaport Research Phill Larson – Mill Street Capital David McFadyen – Aegon Asset Management Gaurav Mehta Good morning, everyone, and thank y ...
Ferroglobe(GSM) - 2021 Q2 - Earnings Call Transcript
2021-08-24 19:58
Ferroglobe PLC (NASDAQ:GSM) Q2 2021 Earnings Conference Call August 24, 2021 9:00 AM ET Company Participants Beatriz GarcÃa-Cos - Chief Financial Officer Marco Levi - Chief Executive Officer Benoit Olivier - Chief Operating Officer and Deputy Chief Executive Officer Gaurav Mehta - Transformation Director and Executive Vice President, Strategy and Investor Relations Jorge Lavin - Group Controller Conference Call Participants Patrick Chatkupt - Rubric Capital Brian DiRubbio - Baird Brian Charles - R.W. Pressp ...
Ferroglobe(GSM) - 2020 Q4 - Annual Report
2021-04-30 21:10
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 20-F (Mark One) ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) or (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ⌧ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2020 OR ◻ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ◻ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES ...