Third quarter 2026 - Robust financial performance amid challenging markets
Key Highlights
- ➤Q3 EBITDA NOK 554 million, down 14% year-on-year
- ➤Elkem Silicon EBITDA declined 43% year-on-year amid low commodity prices
- ➤Elkem Foundry Alloys EBITDA increased 7% year-on-year to improved results
- ➤Elkem invests NOK 260 million to renew Elkem Rana furnace
- ➤New Iceland PPA secures 127 MW through March 2039
Expert Statements
Dag Teigland, CEO of Elkem
“While markets remain challenging, Elkem Foundry Alloys and Elkem Carbon delivered solid financial performances in the third quarter, supported by strong market positions. Recent EU trade policy developments point to a greater willingness to deploy defensive trade measures to restore a level playing field and protect Europe’s strategic industrial value chains. This is encouraging, and bolsters the market outlook for Elkem’s products. Our priority is to remain competitive through the cycle while positioning Elkem to capture profitable growth where we have the strongest capabilities and market positions,”
Elkem reported an EBITDA of NOK 554 million for the third quarter 2026, a decline from NOK 646 million in the corresponding quarter last year. Elkem Foundry Alloys and Elkem Carbon delivered robust financial results due to strong market positions, while Elkem Silicon’s results were still impacted by weak silicon and ferrosilicon sales prices. While market conditions remain challenging, new protective trade measures by the EU to support European industry is expected to lift prices and strengthen demand in the period ahead. Elkem’s revised strategy will focus on developing the core business and expanding in areas where the company holds world-leading positions.
Elkem’s total operating income for the third quarter 2026 was NOK 3 587 million, which was down 2 per cent from the third quarter 2025. Earnings before interest, taxes, depreciation and amortisation (EBITDA) was NOK 554 million, down 14 per cent from the corresponding quarter last year.
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