{"id":456589,"date":"2021-03-12T02:15:21","date_gmt":"2021-03-12T07:15:21","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=456589"},"modified":"2021-03-12T02:15:21","modified_gmt":"2021-03-12T07:15:21","slug":"elkem-asa-annual-report-for-2020","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/elkem-asa-annual-report-for-2020\/","title":{"rendered":"Elkem ASA – Annual report for 2020"},"content":{"rendered":"
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PR Newswire<\/p>\n<\/p><\/div>\n

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\n OSLO<\/span>, March 12, 2021<\/span> \/PRNewswire\/ —\u00a0Elkem ASA has today published its annual report, including the ESG report, for the financial year ended 31 December 2020<\/span>.<\/b><\/p>\n

In his letter to shareholders, Elkem’s CEO Michael Koenig<\/span> writes: “The world experienced a public health crisis and an economic crisis in 2020. Elkem has met these challenges well, by focusing on three priorities: Putting health and safety first, maintaining high and stable production while positioning for profitable growth.”<\/p>\n

In 2020, Elkem delivered a total operating income of NOK 24,691 million<\/span>, up 9% from NOK 22,668 million<\/span> in 2019. Earnings before interest, taxes, depreciation and amortisation (EBITDA) amounted to NOK 2,684 million<\/span> which was in line with 2019.<\/p>\n

In 2020, Elkem launched a productivity improvement programme with the ambition to reduce costs by NOK 350 million<\/span> by end of 2021, changed the corporate structure to accelerate specialisation, gain synergies and further improve operational excellence, and successfully completed the Polysil acquisition.<\/p>\n

The proposed dividend for 2020, subject to approval from the annual general meeting in 2021, is NOK 0.15<\/span> per share, representing 36% of profit for the period. This is within Elkem’s target dividend pay-out ratio of 30-50%.<\/p>\n

“ESG (Environment, Social and Governance) is increasingly important among our stakeholders – and Elkem needs a strong ESG profile and performance in order to meet expectations as we position for the future. In November, Elkem received a Gold sustainability rating from EcoVadis. In December, we received an A rating from CDP, ranking among the world’s leading companies on climate transparency and action,” says Koenig.<\/p>\n

During the year, Elkem established Digital Office, Battery Materials and Biocarbon as new business initiatives, including the site selection for a potential large-scale battery materials plant at Her\u00f8ya Industrial Park, Norway<\/span>.<\/p>\n

“We remain optimistic regarding the longer-term global trends that will drive demand for our products. Our vision remains to provide advanced material solutions shaping the future. And we have a clear corporate strategy to strengthen our competitive positions through specialisation and growth. We have all the ingredients in place to make 2021 a successful year for Elkem, while remaining mindful of the uncertainty in our external environment,” he adds.<\/p>\n

The annual report will be available on Elkem’s website: www.elkem.com<\/a>.\u00a0<\/p>\n

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.<\/p>\n

\n For further information:<\/b>
\n
Odd-Geir Lyngstad<\/span>, VP Finance & Investor Relations
Tel: +47 976 72 806
Email: odd-geir.lyngstad@elkem.no<\/a><\/p>\n

\n Fredrik Norman<\/span>, VP Corporate Communication and Public Affairs
Tel: +47\u00a0918 66\u00a0567\u00a0
Email: fredrik.norman@elkem.no<\/a><\/p>\n

\u00a0<\/p>\n

\n About Elkem <\/b>\n <\/p>\n

Founded in 1904, Elkem is one of the world’s leading suppliers of silicon-based advanced materials with operations throughout the value chain from quartz to specialty silicones, as well as attractive market positions in specialty ferrosilicon alloys and carbon materials. Elkem is a publicly listed company on the Oslo Stock Exchange (ticker code: ELK) and is headquartered in Oslo<\/span>. The Company has more than 6,800 employees with 29 production sites and an extensive network of sales offices worldwide. In 2020 Elkem had total operating income of NOK 24.7 billion<\/span>. Further information is available on www.elkem.com<\/a>.<\/p>\n

This information was brought to you by Cision http:\/\/news.cision.com<\/a><\/p>\n

\n https:\/\/news.cision.com\/elkem\/r\/elkem-asa—annual-report-for-2020,c3305079<\/a>\n <\/p>\n

The following files are available for download:<\/p>\n

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\n https:\/\/mb.cision.com\/Main\/16930\/3305079\/1385813.pdf<\/a>
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\n Release<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

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\n https:\/\/news.cision.com\/elkem\/i\/michael-koenig-ceo-elkem,c2888038<\/a>
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\n Michael Koenig CEO Elkem<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

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\n https:\/\/mb.cision.com\/Public\/16930\/3305079\/a37aa7f0687e6747.pdf<\/a>
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\n Elkem ASA – Annual report for 2020<\/span>\n <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n

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\n \"Cision\" View original content:http:\/\/www.prnewswire.com\/news-releases\/elkem-asa–annual-report-for-2020-301246241.html<\/a><\/p>\n

SOURCE Elkem<\/p>\n<\/p><\/div>\n

\"\"<\/p>\n","protected":false},"excerpt":{"rendered":"

PR Newswire OSLO, March 12, 2021 \/PRNewswire\/ —\u00a0Elkem ASA has today published its annual report, including the ESG report, for the financial year ended 31 December 2020. In his letter to shareholders, Elkem’s CEO Michael Koenig writes: “The world experienced a public health crisis and an economic crisis in 2020. Elkem has met these challenges well, by focusing on three priorities: Putting health and safety first, maintaining high and stable production while positioning for profitable growth.” In 2020, Elkem delivered a total operating income of NOK 24,691 million, up 9% from NOK 22,668 million in 2019. Earnings before interest, taxes, depreciation and amortisation (EBITDA) amounted to NOK 2,684 million which was in line with 2019. In 2020, Elkem launched a … <\/p>\n

Continue reading “Elkem ASA – Annual report for 2020”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-456589","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nElkem ASA - Annual report for 2020 - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/elkem-asa-annual-report-for-2020\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Elkem ASA - Annual report for 2020 - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"PR Newswire OSLO, March 12, 2021 \/PRNewswire\/ —\u00a0Elkem ASA has today published its annual report, including the ESG report, for the financial year ended 31 December 2020. 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