Elkem's total operating income for the first quarter 2026 was NOK 4 053 million, which was 7 per cent lower than the first quarter 2025. Earnings before interest, taxes, depreciation and amortisation (EBITDA) was NOK 249 million, down 65 per cent from the corresponding quarter last year. Earnings per share (EPS) was NOK 0.56 in the quarter, adjusted for the redemption of Bluestar's shares.
The Silicon Products division was impacted by production curtailments at several plants, including complete stops at Elkem Rana and Elkem Salten. The market was characterised by weak demand and low sales prices. Implementation of safeguard measures in the EU for ferrosilicon and foundry alloys had limited price impact in the first quarter due to significant stock building prior to the announcement of the measures. Prices are expected to increase once stock levels normalise. Silicon Products reported a total operating income of NOK 3 338 million, a reduction of 5 per cent compared to the first quarter last year, while the EBITDA declined 75 per cent year-on-year. Carbon Solutions reported an EBITDA of NOK 165 million, down 37 per cent from the first quarter last year, resulting in an EBITDA margin of 23 per cent. The lower EBITDA was mainly due the negative impact from sales mix and currency, as well as the production curtailments in Silicon Products.
"Elkem is undergoing a major transformation to become a pure-play metals and materials company. Alongside streamlining the organisation and strengthening our balance sheet, these actions will enhance resilience, improve the quality of our earnings, and support sustainable shareholder returns over time. We are also implementing substantial cost reductions and optimising working capital to ...
