Silicon metal provider Elkem toasts record earnings

Facebook
Twitter
LinkedIn
Reddit
Email
Silicon products division performed strongly in Q2 despite reduced demand of silicones in China due to Covid restrictions. Image: Elkem.

Silicon metal provider Elkem has posted a seventh consecutive quarter of climbing earnings, resulting in a record performance in Q2 2022.

Elkem’s performance was primarily driven by strong sales of silicon products while the firm’s carbon solutions division also posting its best quarter results ever.

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

Operating income for period reached NOK12,326 million (US$1.2 million), a 68% increase from the previous quarter, while BITDA almost trebled year-on-year to NOK3,924 million.

The silicon division’s strong results came despite Covid restrictions in China reducing demand of silicones, while an increase in capacity resulted in higher stock levels and falling prices for silicones.

Despite macro-economic uncertainties in the market, the company expects to see “robust demand” going into the third quarter with silicon demand in China gradually improving as Covid restrictions are eased.

Furthermore, logistics and raw material supply will challenge the carbon solutions department but will continue to benefit from strong market demand.

Helge Aasen, CEO at Elkem, said: “Elkem has continued to benefit from strong competitive positions, based on our integrated business model, operational excellence, favourable energy costs and access to critical raw materials.”

The company continues its strategy to focus on product specialisation and “strong cost positions”, added Aasen.

Read Next

May 19, 2025
Premier Energies has partnered with Sino-American Silicon Products Inc to establish a 2GW per annum silicon wafer manufacturing facility in India.
May 19, 2025
Solar manufacturer T1 Energy has revised down its guidance for 2025 due to near-term trade policy uncertainties.
May 15, 2025
Solar tracker manufacturer Nextracker has expanded its portfolio of products with the acquisition of US-based electrical infrastructure manufacturer Bentek Corporation for US$78 million.
May 9, 2025
Scatec has announced revenues of NOK2.39 billion (US$230 million) and profits of NOK1 billion (US$96 million) in the first quarter of 2025.
May 9, 2025
Continued “weak demand” from the commercial and industrial (C&I) and residential segments has negatively impacted SMA Solar’s sales and income in the first quarter of 2025.
May 8, 2025
The attachment rate of energy storage with a solar array has reached 69% in the first quarter of 2025 for US residential installer Sunrun, while the company expects the tariff outlook to be manageable.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
June 17, 2025
Napa, USA
Upcoming Webinars
June 30, 2025
10am PST / 6pm BST
Solar Media Events
July 1, 2025
London, UK
Solar Media Events
July 1, 2025
London, UK
Solar Media Events
September 16, 2025
Athens, Greece