AFRK Afarak Group Se

 
TIDMAFAGR 
 

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.

 
 
                                               Q1-Q3/   Q1-Q3/            FY 
                     Q3/2023  Q3/2022  Change    2023    2022   Change   2022 
 
Speciality 
 Alloys         mt    22,305   17,790   25.4%   69,302  64,084    8.1%  87,734 
Processing      mt     4,998    4,417   13.2%   18,528  21,062  -12.0%  26,642 
Mining          mt    17,307   13,373   29.4%   50,775  43,022   18.0%  61,092 
South African 
 mines          mt    61,904   17,545  252.8%  191,407  27,005  608.8%  71,271 
Mining          mt    61,904   17,545  252.8%  191,407  27,005  608.8%  71,271 
 
 

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 https://www.globenewswire.com/Tracker?data=DO5n2CWM6SFjaDgiss4odZy8G_NwjzllCkAL78l5Jlqjd35X1EbPCQrQSTk8xZZU9-hqYj04jz7cxbg9wDOFPv4Rbj2WNClfZrBq01WRxS08dp9t4NPKdC-Dtzi865VAmvaOgLyJv44piYIO4ISwGvQ_c3Kvn6GkPRE8rMJPvUIhVTwsbbL6rCkJ42l79Ym8r2Dl8SiYu4_Lyi5Ot2ExcCX-BSNyF1GLI54e6NnFZMxaxL2HeawkVSSmZ07RMclYyVLjMHrSOAtmrdH1fTsGMsIpij6OzbqR-dSVZyOGmYE=

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 Helsinki

London Stock Exchange

Main media

www.afarak.com

Attachment

   -- Afarak_Production report_2023_Q3_EN 
      https://ml-eu.globenewswire.com/Resource/Download/f124dca6-7f05-4596-b092-b4d14e589ba6 
 
 
 

(END) Dow Jones Newswires

November 03, 2023 11:05 ET (15:05 GMT)

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