Afarak reports solid results in challenging market

📆 19/8/2566 0:19:00
📰 MiningWeeklyCA

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Specialist alloy producer Afarak Group increased revenue by 3.6% to €95.3-million during the six months to June 30, up from €92.1-million in the comparable period in 2022. Processed material sold decreased by 15.5% to 12 855 t, down from 15 205 t in the 2022 interim reporting period. However, tonnage mined increased significantly to 162 971 t, up from 39 109 t during the comparable 2022 period.

Specialist alloy producer Afarak Group increased revenue by 3.6% to €95.3-million during the six months to June 30, up from €92.1-million in the comparable period in 2022.

Earnings before interest, taxes, depreciation and amortisation to June 30 were €15.1-million, down from €24.5-million in the interim period to June 30, 2022. The group's Ebitda margin also declined to 15.8% during the half-year period, from 26.7% in the 2022 interim period.

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