GrafTech International(EAF) - 2023 Q2 - Earnings Call Presentation

Financial Performance - GrafTech reported a net loss of $8 million, resulting in a net loss margin of 4%[27] - Adjusted EBITDA was $26 million, leading to an adjusted EBITDA margin of 14%[34] - The company used $9 million in net cash for operating activities, with adjusted free cash flow at $0.3 million[27] - Q2 2023 production volume was 42.3 thousand metric tons, a 43% decrease compared to Q2 2022[25,33] - Net sales reached $186 million, a 49% decrease compared to Q2 2022[25,33] - Adjusted loss per share was $0.02[34] Liquidity and Debt - As of June 30, 2023, GrafTech's liquidity stood at $337 million[28] - The company completed a private offering of $450 million in senior secured notes due in 2028[36] - Gross debt to adjusted EBITDA was 3.8x, while net debt to adjusted EBITDA was 3.3x[36] Market and Industry Trends - Global steel production, excluding China, was 208 million tons in Q2 2023, compared to 213 million tons in Q2 2022[18] - The company noted near-term softness in graphite electrode demand[5] - Steel capacity utilization rates varied, with the U S at 77% and Global (ex-China) at 66% in Q2 2023[8]