Elkem（0SFN）株式概要エルケムASAは、世界中で先進的な材料ソリューションを提供している。 詳細0SFN ファンダメンタル分析スノーフレーク・スコア評価4/6将来の成長4/6過去の実績1/6財務の健全性4/6配当金0/6報酬当社が推定した公正価値より56.8%で取引されている 収益は年間52.65%増加すると予測されています リスク分析利益率(2%)は昨年より低い(12.2%) すべてのリスクチェックを見る0SFN Community Fair Values Create NarrativeSee what others think this stock is worth. Follow their fair value or set your own to get alerts.Your Fair ValueNOK Current PriceNOK 30.208.7% 割高 内在価値ディスカウントGrowth estimate overAnnual revenue growth rate5 Yearstime period%/yrDecreaseIncreasePastFuture043b2016201920222025202620282031Revenue NOK 23.0bEarnings NOK 467.7mAdvancedSet Fair ValueView all narrativesElkem ASA 競合他社ElementisSymbol: LSE:ELMMarket cap: UK£846.3mTreattSymbol: LSE:TETMarket cap: UK£177.7mCroda InternationalSymbol: LSE:CRDAMarket cap: UK£4.0bIofinaSymbol: AIM:IOFMarket cap: UK£93.1m価格と性能株価の高値、安値、推移の概要Elkem過去の株価現在の株価NOK 30.2052週高値NOK 31.4252週安値NOK 18.76ベータ0.951ヶ月の変化3.77%3ヶ月変化4.01%1年変化60.73%3年間の変化9.96%5年間の変化1.18%IPOからの変化0.82%最新ニュースお知らせ • May 08Elkem ASA has completed a Follow-on Equity Offering in the amount of NOK 1.5 billion.Elkem ASA has completed a Follow-on Equity Offering in the amount of NOK 1.5 billion. Security Name: Shares Security Type: Common Stock Securities Offered: 55,555,555 Price\Range: NOK 27 Transaction Features: Subsequent Direct Listingお知らせ • May 07+ 1 more updateElkem ASA Announces Board changesElkem ASA announced that on 30 April 2026, the following shareholder-elected board members were elected by the annual general meeting: Helge Aasen, Christian Must, Astrid Margrethe Hilde and Richard Olav Aa. The election of Helge Aasen as a board member is effective from the date of his retirement as CEO of Elkem ASA. The board of directors has resolved that Marianne E. Johnsen shall serve as interim chair of the board until the election of Helge Aasen becomes effective.お知らせ • Apr 21CHAR Technologies Ltd. (TSXV:YES) completed the acquisition of Biocarbon Assets of Elkem ASA.CHAR Technologies Ltd. (TSXV:YES) entered into a binding asset purchase agreement to acquire Biocarbon Assets of Elkem ASA for $1 million on April 15, 2026. CHAR Tech intends to enter into a secured loan agreement with Bioveld Canada in the principal amount of $4.8 million (CAD 3.5 million). In connection with the Loan, CHAR Tech will issue an aggregate of 2 million common share purchase warrants to the Lender, subject to the approval of the TSX Venture Exchange. The proceeds of the Loan will be used to support satisfying Char Tech's obligations under the Purchase Agreement, ongoing expenses related to the Acquisition, to invest in plant upgrades and for general working capital purposes. The Acquisition is subject to customary closing conditions and is expected to close within the next week. CHAR Technologies Ltd. (TSXV:YES) completed the acquisition of Biocarbon Assets of Elkem ASA on April 20, 2026.お知らせ • Apr 10Elkem ASA Announces Helge Aasen to Step Down as CEOElkem ASA announced that Chief Executive Officer (CEO) Helge Aasen will be stepping down from his role as CEO. Aasen will continue to serve as CEO, ensuring a smooth transition until a successor is appointed and in place. The nomination committee has proposed that Aasen shall be elected chairman of the Elkem board with effect from stepping down from the CEO role.お知らせ • Mar 11+ 1 more updateElkem ASA to Reduce Workforce by 10%Elkem ASA introduced a new corporate structure and reducing working capital and annual costs following the approval of the announced Silicones transaction. In response to the adverse market conditions, Elkem is implementing significant cost-cutting measures as part of its reorganisation. Elkem will reduce its global workforce by approximately 300 FTEs by year-end 2026, which represents approximately 10% of the total work force after the sale of the majority of the Silicones division. This process will begin immediately and will primarily affect functions directly impacted by sale of Silicones, as well as support functions at corporate and division levels. Blue collar positions will to a lesser extent be affected.お知らせ • Oct 24Elkem ASA Introduces New Biocompatible, Electro Conductive Silicone Rubber for Advanced Healthcare DevicesElkem ASA unveiled SILBIONE™ LSR Select EC 70, a next-generation medical-grade liquid silicone rubber. Designed for wearable and diagnostic devices, the material combines high electrical conductivity, certified biocompatibility, and enhanced process control, setting a new standard for precision healthcare applications. With resistivity below 10 ohm-centimeters, this new material offers ideal conductivity for wearable devices, flexible electronics and advanced sensors. Its liquid injection moldable form enables intricate designs, while its durability and flexibility ensure long-term performance in demanding environments. The material also offers proven biocompatibility, having successfully passed ISO 10993-5 cytotoxicity and ISO 10993-10 skin sensitization tests, making it well suited for applications such as prosthetics, diagnostic tools, and next-generation flexible circuits. Now commercially available, the innovation has been specifically engineered to be used with LSR Select™, Elkem's patented liquid silicone rubber technology designed for precision liquid injection molding. This unique system enables manufacturers to fine-tune cure kinetics directly in the mold, offering greater control, faster cycle times, and reduced waste -- supporting competitiveness, performance and sustainability goals.最新情報をもっと見るRecent updatesお知らせ • May 08Elkem ASA has completed a Follow-on Equity Offering in the amount of NOK 1.5 billion.Elkem ASA has completed a Follow-on Equity Offering in the amount of NOK 1.5 billion. Security Name: Shares Security Type: Common Stock Securities Offered: 55,555,555 Price\Range: NOK 27 Transaction Features: Subsequent Direct Listingお知らせ • May 07+ 1 more updateElkem ASA Announces Board changesElkem ASA announced that on 30 April 2026, the following shareholder-elected board members were elected by the annual general meeting: Helge Aasen, Christian Must, Astrid Margrethe Hilde and Richard Olav Aa. The election of Helge Aasen as a board member is effective from the date of his retirement as CEO of Elkem ASA. The board of directors has resolved that Marianne E. Johnsen shall serve as interim chair of the board until the election of Helge Aasen becomes effective.お知らせ • Apr 21CHAR Technologies Ltd. (TSXV:YES) completed the acquisition of Biocarbon Assets of Elkem ASA.CHAR Technologies Ltd. (TSXV:YES) entered into a binding asset purchase agreement to acquire Biocarbon Assets of Elkem ASA for $1 million on April 15, 2026. CHAR Tech intends to enter into a secured loan agreement with Bioveld Canada in the principal amount of $4.8 million (CAD 3.5 million). In connection with the Loan, CHAR Tech will issue an aggregate of 2 million common share purchase warrants to the Lender, subject to the approval of the TSX Venture Exchange. The proceeds of the Loan will be used to support satisfying Char Tech's obligations under the Purchase Agreement, ongoing expenses related to the Acquisition, to invest in plant upgrades and for general working capital purposes. The Acquisition is subject to customary closing conditions and is expected to close within the next week. CHAR Technologies Ltd. (TSXV:YES) completed the acquisition of Biocarbon Assets of Elkem ASA on April 20, 2026.お知らせ • Apr 10Elkem ASA Announces Helge Aasen to Step Down as CEOElkem ASA announced that Chief Executive Officer (CEO) Helge Aasen will be stepping down from his role as CEO. Aasen will continue to serve as CEO, ensuring a smooth transition until a successor is appointed and in place. The nomination committee has proposed that Aasen shall be elected chairman of the Elkem board with effect from stepping down from the CEO role.お知らせ • Mar 11+ 1 more updateElkem ASA to Reduce Workforce by 10%Elkem ASA introduced a new corporate structure and reducing working capital and annual costs following the approval of the announced Silicones transaction. In response to the adverse market conditions, Elkem is implementing significant cost-cutting measures as part of its reorganisation. Elkem will reduce its global workforce by approximately 300 FTEs by year-end 2026, which represents approximately 10% of the total work force after the sale of the majority of the Silicones division. This process will begin immediately and will primarily affect functions directly impacted by sale of Silicones, as well as support functions at corporate and division levels. Blue collar positions will to a lesser extent be affected.お知らせ • Oct 24Elkem ASA Introduces New Biocompatible, Electro Conductive Silicone Rubber for Advanced Healthcare DevicesElkem ASA unveiled SILBIONE™ LSR Select EC 70, a next-generation medical-grade liquid silicone rubber. Designed for wearable and diagnostic devices, the material combines high electrical conductivity, certified biocompatibility, and enhanced process control, setting a new standard for precision healthcare applications. With resistivity below 10 ohm-centimeters, this new material offers ideal conductivity for wearable devices, flexible electronics and advanced sensors. Its liquid injection moldable form enables intricate designs, while its durability and flexibility ensure long-term performance in demanding environments. The material also offers proven biocompatibility, having successfully passed ISO 10993-5 cytotoxicity and ISO 10993-10 skin sensitization tests, making it well suited for applications such as prosthetics, diagnostic tools, and next-generation flexible circuits. Now commercially available, the innovation has been specifically engineered to be used with LSR Select™, Elkem's patented liquid silicone rubber technology designed for precision liquid injection molding. This unique system enables manufacturers to fine-tune cure kinetics directly in the mold, offering greater control, faster cycle times, and reduced waste -- supporting competitiveness, performance and sustainability goals.お知らせ • Oct 21Elkem Curtails Ferrosilicon Production In Norway And Iceland Due To Market ConditionsElkem ASA has announced a partial curtailment of ferrosilicon production at its plants in Rana, Norway, and Iceland due to challenging market conditions. The decision is driven by ongoing weak market conditions in Europe, which have led to rising inventory levels and lower prices. The European Union's investigation into potential safeguard measures on imports of ferrosilicon and ferroalloys has further increased uncertainty. The curtailment may result in temporary layoffs of employees as Elkem aims to reduce inventories and support a better market balance. The core product at these plants, ferrosilicon, is a critical raw material for the steel industry. Elkem's Senior Vice President for Silicon Products, Inge A. Grubben-Strømnes, emphasized the need for competitive and predictable framework conditions and continued access to the EU market for Norwegian industry.お知らせ • Aug 11+ 5 more updatesElkem ASA to Report Q3, 2026 Results on Oct 23, 2026Elkem ASA announced that they will report Q3, 2026 results on Oct 23, 2026New Risk • Jul 12New minor risk - Profit margin trendThe company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 8.5% Last year net profit margin: 12% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (8.5% net profit margin).Reported Earnings • Jul 12Second quarter 2025 earnings released: kr0.17 loss per share (vs kr1.35 profit in 2Q 2024)Second quarter 2025 results: kr0.17 loss per share (down from kr1.35 profit in 2Q 2024). Revenue: kr4.33b (down 48% from 2Q 2024). Net loss: kr105.0m (down 112% from profit in 2Q 2024). Revenue is forecast to grow 29% p.a. on average during the next 3 years, compared to a 15% decline forecast for the Chemicals industry in the United Kingdom. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 63 percentage points per year, which is a significant difference in performance.New Risk • Jul 07New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 7.2% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 7.2% per year for the foreseeable future. Minor Risk Large one-off items impacting financial results.New Risk • Jun 18New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 0.05% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 0.05% per year for the foreseeable future. Minor Risk Large one-off items impacting financial results.Reported Earnings • May 02First quarter 2025 earnings released: EPS: kr0.21 (vs kr0.69 loss in 1Q 2024)First quarter 2025 results: EPS: kr0.21 (up from kr0.69 loss in 1Q 2024). Revenue: kr4.35b (down 44% from 1Q 2024). Net income: kr135.0m (up kr574.0m from 1Q 2024). Profit margin: 3.1% (up from net loss in 1Q 2024). Revenue is forecast to grow 23% p.a. on average during the next 3 years, compared to a 4.3% decline forecast for the Chemicals industry in the United Kingdom. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 57 percentage points per year, which is a significant difference in performance.Upcoming Dividend • Apr 25Upcoming dividend of kr0.30 per shareEligible shareholders must have bought the stock before 02 May 2025. Payment date: 12 May 2025. Payout ratio is a comfortable 9.4% but the company is not cash flow positive. Trailing yield: 1.6%. Lower than top quartile of British dividend payers (6.1%). Lower than average of industry peers (4.6%).Reported Earnings • Mar 26Full year 2024 earnings released: EPS: kr3.20 (vs kr3.15 in FY 2023)Full year 2024 results: EPS: kr3.20 (up from kr3.15 in FY 2023). Revenue: kr17.8b (down 16% from FY 2023). Net income: kr2.03b (up 1.4% from FY 2023). Profit margin: 11% (up from 9.5% in FY 2023). Revenue is forecast to grow 23% p.a. on average during the next 3 years, compared to a 4.2% decline forecast for the Chemicals industry in the United Kingdom. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 52 percentage points per year, which is a significant difference in performance.お知らせ • Mar 15Elkem to Showcase Sustainability Progress and Eco-Designed OfferingsElkem announced its participation in In-Cosmetics Global 2025, where it will highlight its ongoing commitment to sustainability and showcase its latest eco-designed products, PURESIL(TM) ORG 03 and PURESIL(TM) N DML 15. At the event, Elkem will discuss its advancements in sustainability, emphasizing its efforts to reduce environmental impact. The company continues to expand its specialty offerings to meet market demands and address unmet needs. This includes performance additives for sensory enhancement, pigment dispersion, and emulsification, which are designed to elevate product development across all categories. Visitors to Elkem's booth will have the opportunity to explore prototype formulations featuring the elastomer gel series, organofunctional silicones, and film formers. Experts from Europe, the Americas, and Asia Pacific will be available to answer questions, discuss projects, and explore potential collaborations.Reported Earnings • Feb 13Full year 2024 earnings released: EPS: kr3.20 (vs kr0.11 in FY 2023)Full year 2024 results: EPS: kr3.20 (up from kr0.11 in FY 2023). Revenue: kr18.9b (down 45% from FY 2023). Net income: kr2.03b (up kr1.95b from FY 2023). Profit margin: 11% (up from 0.2% in FY 2023). The increase in margin was driven by lower expenses. Revenue is forecast to grow 31% p.a. on average during the next 2 years, compared to a 4.1% decline forecast for the Chemicals industry in the United Kingdom. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 56 percentage points per year, which is a significant difference in performance.お知らせ • Feb 12Elkem ASA Proposes Ordinary Dividend for the Year 2024, Payable on About May 12, 2025The board of directors of Elkem ASA has decided to propose to the Annual General Meeting an ordinary dividend for 2024 of NOK 0.30 per share. Ex-dividend date: 02 May 2025, Record date: 05 May 2025 and Payment date: On or about 12 May 2025. Date of approval: 30 April 2025.New Risk • Feb 06New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of British stocks, typically moving 7.3% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (1.1x net interest cover). Minor Risks Share price has been volatile over the past 3 months (7.3% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.1% net profit margin).お知らせ • Nov 28Elkem ASA Secures EUR 1.8 Million European Union Grant to Explore CO2-Free Silicon ProductionElkem ASA has secured EUR 1.8 million in funding from the European Union for the groundbreaking Elkem Sicalo® (Silicon production with carbon looping) project, which aims to eliminate all CO2 emissions from silicon production. Elkem, SINTEF and NORCE are completing the first pilot phase of Elkem Sicalo® at Elkem's technology park in Kristiansand, Norway. The project entails capturing the carbon emitted from the silicon furnace and reusing it as a reductant in the silicon production process. The EU has now granted EUR 9.9 million in funding for the Horizon Europe project MECALO, which builds on Elkem Sicalo®. MECALO will develop the concept of carbon looping further for general metal production, with demonstration of zero CO2 silicon and manganese alloys. The manganese alloys producer Eramet, with its six smelters in Norway, France, the United States and Gabon, is the other metallurgical company in the consortium aiming to develop and use the technology from MECALO. If successful and fully implemented in all European production of silicon and manganese, MECALO could save 33 million tonnes of CO2 emissions per year in 2050. Silicon is a raw material that is critical for the green and digital transitions. Its application ranges from electric vehicles to solar cells, batteries, smart phones and wind turbines. The production of silicon is a source of greenhouse gas emissions, as the process requires carbon to reduce quartz into silicon. Some metals, such as steel, can be produced with hydrogen as a reductant. This is not possible for silicon, manganese and several other metals. That's why pioneering projects such as MECALO are needed, to develop innovative production methods without CO2 emissions. The MECALO project will research and develop a new production method that involves capturing carbon oxides from process off-gases, converting them to solid carbon using low-carbon hydrogen, and reusing the recovered carbon as a reduction material to produce critical metals and materials. While this method is showing promising results, it also presents challenges that need to be resolved, such as increased energy use. The overall budget for MECALO is EUR 9.9 million (NOK 116 million), with Elkem's budget and requested grant amounting to EUR 1.8 million (NOK 21 million). Key highlights of the MECALO project: Innovative carbon capture and reuse: Capturing carbon oxides from off-gases and converting them into solid carbon using hydrogen, which is then reused in metal production. Elimination of external carbon feedstock: The process aims to eliminate the need for external carbon in carbothermic production. Researching production of "turquoise hydrogen": A project partner will research methane pyrolysis, whereby methane is cracked into hydrogen and solid carbon, using only a fifth of the energy required for green hydrogen production. Elkem has been working on Elkem Sicalo® with SINTEF as its research partner since 2021, with support from The Research Council of Norway from 2022-2024. The research partners are now initiating the second phase of the project with extensive pilot testing of various stages of the production process, with support from Enova.New Risk • Oct 25New major risk - Financial positionThe company's interest payments are not well covered by earnings. Net interest cover: 0.9x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (0.9x net interest cover). Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.1% net profit margin).Reported Earnings • Oct 25Third quarter 2024 earnings released: EPS: kr0.14 (vs kr0.72 loss in 3Q 2023)Third quarter 2024 results: EPS: kr0.14 (up from kr0.72 loss in 3Q 2023). Revenue: kr8.06b (up 4.0% from 3Q 2023). Net income: kr92.0m (up kr548.0m from 3Q 2023). Profit margin: 1.1% (up from net loss in 3Q 2023). Revenue is forecast to grow 9.6% p.a. on average during the next 3 years, compared to a 6.2% decline forecast for the Chemicals industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 60% per year but the company’s share price has only fallen by 17% per year, which means it has not declined as severely as earnings.お知らせ • Oct 18Elkem to Launch A New Generation of Silicone Solutions for Additive Manufacturing/3D Printing At Formnext 2024 in FrankfurtElkem announced its groundbreaking latest product innovation, enlarging its portfolio of silicone solutions of the AMSil™ and AMSil™ Silbione™ ranges for Additive Manufacturing/3D Printing, at the upcoming Formnext show in Frankfurt Germany from November 19th to 22nd 2024. After having already successfully launched the AMSil™ & AMSil Silbione™brand and being acknowledged for this disruptive silicone solutions as a winner in the 2021 R&D 100 award, Elkem is continuing its material innovation campaign in Additive Manufacturing/3D Printing. In addition to the existing AMSil™ 20501/AMSil Silbione™ 24501 and AMSil™ 20502 (special for food grade) range, Elkem has developed the new AMSil™ 20503 & AMSil Silbione™ 24503 range. Besides a longer shelf life for easier handling these new formulations are laying the base and open perspectives for an enlarged use in restricted and unrestricted medical application in the future. The new developments are available with Shore A hardness from ShA 10 to ShA 70 with all well-known properties of 100% silicones for LDM (Liquid Deposit Molding) based systems. Elkem will also launch a new reference AMSil™ 92102 in the support material series. This paste like water soluble material has improved printability and surface aspects and is suitable for use in common with the AMSil™and AMSil Silbione™ range allowing to taking advantage of features and structures associated with the freedom of design approach inherent to Additive Manufacturing/3D Printing. These latest developments show the commitment from Elkem to Additive Manufacturing/3D Printing and its potential of being part of a more sustainable economy in the future. Scaling Additive Manufacturing/3D Printing to industrial levels through Digital Manufacturing will create innovative, profitable, and sustainable solutions, reducing waste, transportation, and storage costs, thereby lowering the carbon footprint of end-products.Reported Earnings • Jul 13Second quarter 2024 earnings released: EPS: kr1.35 (vs kr0.057 in 2Q 2023)Second quarter 2024 results: EPS: kr1.35 (up from kr0.057 in 2Q 2023). Revenue: kr8.49b (down 5.0% from 2Q 2023). Net income: kr854.0m (up kr818.0m from 2Q 2023). Profit margin: 10% (up from 0.4% in 2Q 2023). Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 6.8% decline forecast for the Chemicals industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 36% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings.Buy Or Sell Opportunity • Jul 02Now 50% undervalued after recent price dropOver the last 90 days, the stock has fallen 4.2% to kr20.57. The fair value is estimated to be kr41.50, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.5% over the last 3 years. Meanwhile, the company became loss making.お知らせ • Jun 26Elkem ASA, Annual General Meeting, Apr 30, 2025Elkem ASA, Annual General Meeting, Apr 30, 2025.お知らせ • Jun 25+ 4 more updatesElkem ASA to Report First Half, 2025 Results on Jul 15, 2025Elkem ASA announced that they will report first half, 2025 results on Jul 15, 2025Buy Or Sell Opportunity • Jun 25Now 20% overvaluedOver the last 90 days, the stock has fallen 2.3% to kr20.82. The fair value is estimated to be kr17.33, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 8.5% over the last 3 years. Meanwhile, the company became loss making.お知らせ • Apr 23Elkem ASA Announces Board ChangesElkem's annual general meeting on 18 April 2024, the board has decided to elect Bo Li as the new Chair. Bo Li is also Chair of the board of China National Bluestar (Bluestar), Elkem's majority shareholder, and a subsidiary of Sinochem. The former Chair, Zhigang Hao, will continue as board member in Elkem, and holds the position as CEO of Adisseo, a subsidiary of Bluestar. Dag J. Opedal will continue as Vice Chair of the board of directors.Buy Or Sell Opportunity • Apr 19Now 27% undervalued after recent price dropOver the last 90 days, the stock has fallen 12% to kr18.87. The fair value is estimated to be kr25.91, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.5% over the last 3 years. Meanwhile, the company became loss making.Reported Earnings • Mar 24Full year 2023 earnings released: EPS: kr0.11 (vs kr15.09 in FY 2022)Full year 2023 results: EPS: kr0.11 (down from kr15.09 in FY 2022). Revenue: kr34.4b (down 24% from FY 2022). Net income: kr72.0m (down 99% from FY 2022). Profit margin: 0.2% (down from 21% in FY 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 4.2% decline forecast for the Chemicals industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has fallen by 16% per year, which means it is significantly lagging earnings.Board Change • Mar 21Less than half of directors are independentFollowing the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 7 non-independent directors. Independent Director Nathalie Brunelle was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.お知らせ • Mar 12An unknown buyer acquired unknown minority stake in Vianode AS from Elkem ASA (OB:ELK).An unknown buyer acquired unknown minority stake in Vianode AS from Elkem ASA (OB:ELK) on March 11, 2024.An unknown buyer completed the acquisition of unknown minority stake in Vianode AS from Elkem ASA (OB:ELK) on March 11, 2024.お知らせ • Mar 08Elkem Appoints Sandy Chen as Acting Senior Vice President for Silicones DivisionElkem ASA announced that Larry Zhang has accepted a new position in Sinochem and Sandy Chen has been appointed Acting Senior Vice President for Elkem's Silicones division, a leading global player in fully integrated silicone manufacturing. Both will step into their new roles with immediate effect. Sandy Chen comes from the position as the Vice President Asia Pacific region in the Elkem Silicones division. Sandy has a long and extensive experience both within leadership and the silicones global business. She holds a polymer master's degree from Beijing Technology and Business University.お知らせ • Jan 16Elkem ASA (OB:ELK) entered into Share Purchase Agreement to acquire REC Solar Norway AS from REC Solar Holdings AS for approximately NOK 230 million.Elkem ASA (OB:ELK) entered into Share Purchase Agreement to acquire REC Solar Norway AS from REC Solar Holdings AS for approximately NOK 230 million on January 14, 2024. Under the terms of agreement, Elkem is paying consideration in cash. RIL will continue to retain the technology and intellectual property rights pertaining to kerf-based Polysilicon. Upon completion of the sale, REC Norway will cease to be a subsidiary of the Company. REC Solar Holdings AS and its subsidiaries, engaged in the business of manufacturing and sale of Solar PV HJT cells and modules, will continue to be RIL’s subsidiaries. This transaction will give Elkem control of industrial areas and facilities in Norway, including areas next to Elkem’s activities at Fiskaa in Kristiansand. The transaction remains subject to necessary approvals, including from the Norwegian Competition Authority. The transaction is also subject to certain regulatory and other customary closing conditions and transaction does not fall within related party transactions. The transaction is expected to complete by April 2024.お知らせ • Dec 23Elkem Postpones Start-Up of Iceland FurnaceElkem will postpone the start-up of its furnace 3 on Iceland by one month. This follows a notice from the national power company about the need for electricity curtailment for large energy users due to low water levels in key hydropower reservoirs. Elkem's furnace 3 on Iceland was temporarily shut down in the fourth quarter ofthis year in order to accelerate maintenance, with a ramp-down starting from 30 September. The planned start-up has now been postponed until the end of January 2024. This postponement will have no impact on customers or employees.Reported Earnings • Oct 26Third quarter 2023 earnings released: kr0.72 loss per share (vs kr4.81 profit in 3Q 2022)Third quarter 2023 results: kr0.72 loss per share (down from kr4.81 profit in 3Q 2022). Revenue: kr7.92b (down 28% from 3Q 2022). Net loss: kr456.0m (down 115% from profit in 3Q 2022). Revenue is forecast to stay flat during the next 3 years compared to a 5.9% decline forecast for the Chemicals industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 49% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings.Buying Opportunity • Oct 19Now 20% undervalued after recent price dropOver the last 90 days, the stock is down 23%. The fair value is estimated to be kr22.75, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 26% over the last 3 years. Earnings per share has grown by 73%. Revenue is forecast to decline by 5.7% in 2 years. Earnings is forecast to decline by 56% in the next 2 years.お知らせ • Aug 29Elkem Launches UV Hg and UV LED Curable Silicone Solutions for Sustainable Release CoatingsElkem launched SILCOLEASE UV POLY 126 a new 'Ready-To-Use' UV acrylate formulation especially designed for release coating of thermal labels that are self-wound without the use of a separate release liner. It guarantees the desired level of performance during the manufacturing, cutting, converting and printing stages, making it possible to develop sustainable thermal printed linerless labels and enable a circular economy. Elkem is one of the world's leading suppliers of silicon-based advanced material solutions shaping a better and more sustainable future. Elkem is committed to develop products needed for the green transition and minimizing the negative environmental and social impact of these products. Elkem is offering silicone release coatings in the widest range of formats, including solvent-based, water-dilutable emulsion formulations, solventless thermal and UV. Users can choose the most appropriate system for their specific coating equipment and substrate while taking into account energy, sustainability, regulatory and safety requirements. UV LED technology has emerged as a promising method for radiation curing silicone chemistries at specific wavelengths as an alternative to mercury vapor curing lamps. In addition to its effectiveness and flexibility compared to standard mercury lamps, UV LED provides the benefit of improved sustainability by consuming less energy and the elimination of greenhouse gas produced. To support the Label Industry in its transition to a more sustainable footprint, and the conversion to UV LED curing, Elkem introduces new UV LED curable silicone solutions, SILCOLEASE UV LED Series. SILCOLEASE UV LED systems utilizing Elkem photoinitiator demonstrate excellent cure and physical properties for more sustainable release coatings. Elkem launches SILCOLEASE UV POLY 126 a new "Ready-To-Use" UV acrylate formulation especially designed for release coating of thermal labels that are self-wound without the use of a separate release liner. It guarantees the desired level of performance during the manufacturing, cutting, converting and printing stages, making it possible to develop sustainable thermal printed linerless labels and enable a circular economy. The latest addition to the SILCOLEASE UV 100 acrylate series, SILCOLEASE UV POLY 125 fills the gap between release force that can be too light and release force that can be too tight. This formulation works well with a wide variety of permanent self-adhesives and removable adhesives. It successfully cures under Hg UV and specified UV LED parameters.Recent Insider Transactions • Jul 16Chief Executive Officer recently bought kr500k worth of stockOn the 14th of July, Helge Aasen bought around 22k shares on-market at roughly kr22.50 per share. This transaction amounted to 48% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Helge's only on-market trade for the last 12 months.New Risk • Jul 15New minor risk - Profit margin trendThe company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 12% Last year net profit margin: 21% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 7.9% per year for the foreseeable future. Minor Risks Dividend is not well covered by cash flows (339% cash payout ratio). Profit margins are more than 30% lower than last year (12% net profit margin).Reported Earnings • Jul 14Second quarter 2023 earnings released: EPS: kr0.057 (vs kr4.67 in 2Q 2022)Second quarter 2023 results: EPS: kr0.057 (down from kr4.67 in 2Q 2022). Revenue: kr9.26b (down 24% from 2Q 2022). Net income: kr36.0m (down 99% from 2Q 2022). Profit margin: 0.4% (down from 25% in 2Q 2022). Revenue is forecast to grow 1.1% p.a. on average during the next 3 years, compared to a 7.3% decline forecast for the Chemicals industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 73% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth.お知らせ • Jun 10Elkem ASA (OB:ELK) acquired VUM, a.s. from ZSNP, a.s.Elkem ASA (OB:ELK) acquired VUM, a.s. from ZSNP, a.s. on June 9, 2023. With the transaction complete, VUM will rebrand and operate under Elkem Carbon AS, a wholly-owned subsidiary of Elkem ASA. VUM will continue the operations under its current management. Elkem expects the acquisition to contribute with an additional turnover of around NOK 360 million per year. Elkem ASA (OB:ELK) completed the acquisition of VUM, a.s. from ZSNP, a.s.お知らせ • May 23+ 5 more updatesElkem ASA to Report Q3, 2024 Results on Oct 24, 2024Elkem ASA announced that they will report Q3, 2024 results on Oct 24, 2024Valuation Update With 7 Day Price Move • May 05Investor sentiment deteriorates as stock falls 16%After last week's 16% share price decline to kr30.10, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 20x in the Chemicals industry in the United Kingdom. Total returns to shareholders of 121% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at kr39.19 per share.Buying Opportunity • May 03Now 23% undervalued after recent price dropOver the last 90 days, the stock is down 16%. The fair value is estimated to be kr39.27, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 28% over the last 3 years. Earnings per share has grown by 89%. Revenue is forecast to decline by 7.3% in 2 years. Earnings is forecast to decline by 56% in the next 2 years.Upcoming Dividend • Apr 25Upcoming dividend of kr6.00 per share at 17% yieldEligible shareholders must have bought the stock before 02 May 2023. Payment date: 10 May 2023. Payout ratio is a comfortable 40% and this is well supported by cash flows. Trailing yield: 17%. Within top quartile of British dividend payers (5.8%). Higher than average of industry peers (2.3%).Reported Earnings • Mar 22Full year 2022 earnings released: EPS: kr15.09 (vs kr7.49 in FY 2021)Full year 2022 results: EPS: kr15.09 (up from kr7.49 in FY 2021). Revenue: kr45.0b (up 36% from FY 2021). Net income: kr9.56b (up 107% from FY 2021). Profit margin: 21% (up from 14% in FY 2021). The increase in margin was driven by higher revenue. Revenue is expected to decline by 1.5% p.a. on average during the next 3 years, while revenues in the Chemicals industry in the United Kingdom are expected to grow by 2.1%. Over the last 3 years on average, earnings per share has increased by 99% per year but the company’s share price has only increased by 39% per year, which means it is significantly lagging earnings growth.Board Change • Mar 20Less than half of directors are independentFollowing the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 7 non-independent directors. Independent Director Nathalie Brunelle was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.お知らせ • Feb 08+ 1 more updateElkem Asa Provides Earnings Guidance for the Year 2024Elkem ASA provided earnings guidance for the year 2024. For the period, the company expansion is expected to generate additional sales in excess of NOK 300 million per year from 2024.お知らせ • Jan 18+ 1 more updateElkem Announces Executive Changes, Effective 1 February 2023Morten Magnus Voll appointed as Elkem's Senior Vice President (SVP) for Strategy and Business Development. He replaces Frederic Jacquin who has decided to take on a senior leadership role in Adisseo. Morten Magnus Voll will start in his role as SVP for Strategy and Business Development from 1 February 2023. In the new role, he will be responsible for corporate strategy and business development, including mergers and acquisitions (M&A) and new growth projects supporting all of Elkem's business divisions. Voll comes from the role of VP Finance, IT and Supply Chain for the Silicones division in Elkem. He has close to 19 years' experience in the company, including several global leadership roles. He started in the company as a business analyst and holds a Master of Technology degree from the Norwegian University of Science and Technology (NTNU). Frederic Jacquin has been with Elkem and predecessor companies since the early 1990s, for the last eight years in roles as Senior Vice President for Strategy and Business Development and the Silicones division, respectively. He has been appointed Chief Operation Officer and Deputy General Manager in Adisseo.Board Change • Nov 24Less than half of directors are independentFollowing the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 7 non-independent directors. Independent Director Nathalie Brunelle was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.お知らせ • Aug 20+ 4 more updatesElkem ASA to Report Q3, 2023 Results on Oct 25, 2023Elkem ASA announced that they will report Q3, 2023 results on Oct 25, 2023Recent Insider Transactions • Jul 31Insider recently sold kr397k worth of stockOn the 29th of July, Luiz Simao sold around 10k shares on-market at roughly kr39.72 per share. In the last 3 months, there was an even bigger sale from another insider worth kr1.9m. Insiders have been net sellers, collectively disposing of kr7.7m more than they bought in the last 12 months.Reported Earnings • Jul 19Second quarter 2022 earnings released: EPS: kr4.67 (vs kr0.98 in 2Q 2021)Second quarter 2022 results: EPS: kr4.67 (up from kr0.98 in 2Q 2021). Revenue: kr12.3b (up 72% from 2Q 2021). Net income: kr2.96b (up 386% from 2Q 2021). Profit margin: 24% (up from 8.5% in 2Q 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is expected to shrink by 11% compared to a 16% decline forecast for the industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 84% per year but the company’s share price has only increased by 16% per year, which means it is significantly lagging earnings growth.Valuation Update With 7 Day Price Move • Jul 05Investor sentiment deteriorated over the past weekAfter last week's 17% share price decline to kr27.60, the stock trades at a forward P/E ratio of 3x. Average forward P/E is 18x in the Chemicals industry in the United Kingdom. Total returns to shareholders of 32% over the past three years.Valuation Update With 7 Day Price Move • Jun 13Investor sentiment deteriorated over the past weekAfter last week's 16% share price decline to kr32.96, the stock trades at a forward P/E ratio of 3x. Average forward P/E is 17x in the Chemicals industry in the United Kingdom. Total returns to shareholders of 65% over the past three years.Recent Insider Transactions • May 17Senior Vice President of Technology recently sold kr1.8m worth of stockOn the 13th of May, Havard Moe sold around 50k shares on-market at roughly kr36.02 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of kr7.3m more than they bought in the last 12 months.Reported Earnings • Apr 27Full year 2021 earnings released: EPS: kr7.49 (vs kr0.41 in FY 2020)Full year 2021 results: EPS: kr7.49 (up from kr0.41 in FY 2020). Revenue: kr33.1b (up 38% from FY 2020). Net income: kr4.63b (up kr4.39b from FY 2020). Profit margin: 14% (up from 1.0% in FY 2020). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 15% compared to a 14% decline forecast for the industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings.Board Change • Apr 27Less than half of directors are independentFollowing the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 6 non-independent directors. Independent Director Grace Tang was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.Upcoming Dividend • Apr 21Upcoming dividend of kr3.00 per shareEligible shareholders must have bought the stock before 28 April 2022. Payment date: 06 May 2022. Payout ratio is a comfortable 40% and this is well supported by cash flows. Trailing yield: 7.1%. Within top quartile of British dividend payers (4.6%). Higher than average of industry peers (2.6%).Reported Earnings • Mar 18Full year 2021 earnings: Revenues and EPS in line with analyst expectationsFull year 2021 results: EPS: kr7.49 (up from kr0.41 in FY 2020). Revenue: kr33.1b (up 38% from FY 2020). Net income: kr4.63b (up kr4.39b from FY 2020). Profit margin: 14% (up from 1.0% in FY 2020). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Over the next year, revenue is forecast to grow 9.4% compared to a 11% decline forecast for the industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings.Recent Insider Transactions • Feb 11Senior Vice President of Technology recently sold kr1.7m worth of stockOn the 9th of February, Havard Moe sold around 50k shares on-market at roughly kr34.50 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of kr7.0m more than they bought in the last 12 months.Reported Earnings • Feb 10Full year 2021 earnings: Revenues and EPS in line with analyst expectationsFull year 2021 results: EPS: kr7.49 (up from kr0.41 in FY 2020). Revenue: kr33.7b (up 40% from FY 2020). Net income: kr4.63b (up kr4.39b from FY 2020). Profit margin: 14% (up from 1.0% in FY 2020). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Over the next year, revenue is forecast to grow 6.0% compared to a 3.2% decline forecast for the industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has increased by 8% per year, which means it is well ahead of earnings.Reported Earnings • Oct 29Third quarter 2021 earnings released: EPS kr2.16 (vs kr0.18 loss in 3Q 2020)The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: kr8.80b (up 54% from 3Q 2020). Net income: kr1.37b (up kr1.48b from 3Q 2020). Profit margin: 16% (up from net loss in 3Q 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 47% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings.Recent Insider Transactions • Oct 29Senior Vice President of Technology recently sold kr1.9m worth of stockOn the 27th of October, Havard Moe sold around 50k shares on-market at roughly kr37.80 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of kr5.2m more than they bought in the last 12 months.Reported Earnings • Jul 18Second quarter 2021 earnings released: EPS kr0.98 (vs kr0.022 loss in 2Q 2020)The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: kr7.17b (up 26% from 2Q 2020). Net income: kr609.0m (up kr622.0m from 2Q 2020). Profit margin: 8.5% (up from net loss in 2Q 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 63 percentage points per year, which is a significant difference in performance.Executive Departure • Jul 13Chief Executive Officer Michael Koenig has left the companyOn the 30th of June, Michael Koenig was replaced as CEO by Helge Aasen after 1.6 years in the role. We don't have any record of a personal shareholding under Michael's name. Michael is the only executive to leave the company over the last 12 months. The current median tenure of the management team is 10.50 years. Under Michael's leadership, the company delivered a total shareholder return of 43%.Reported Earnings • Apr 28First quarter 2021 earnings released: EPS kr1.18 (vs kr0.43 in 1Q 2020)The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: kr7.19b (up 27% from 1Q 2020). Net income: kr684.0m (up 173% from 1Q 2020). Profit margin: 9.5% (up from 4.4% in 1Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 66 percentage points per year, which is a significant difference in performance.Upcoming Dividend • Apr 21Upcoming dividend of kr0.15 per shareEligible shareholders must have bought the stock before 28 April 2021. Payment date: 06 May 2021. Trailing yield: 0.4%. Lower than top quartile of British dividend payers (4.1%). Lower than average of industry peers (1.6%).Recent Insider Transactions • Mar 27Director recently sold kr1.5m worth of stockOn the 26th of March, Helge Aasen sold around 40k shares on-market at roughly kr37.00 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of kr1.1m more than they bought in the last 12 months.Reported Earnings • Mar 14Full year 2020 earnings released: EPS kr0.41 (vs kr1.47 in FY 2019)The company reported a soft full year result with weaker earnings and profit margins, although revenues improved. Full year 2020 results: Revenue: kr24.0b (up 8.0% from FY 2019). Net income: kr239.0m (down 72% from FY 2019). Profit margin: 1.0% (down from 3.8% in FY 2019).Analyst Estimate Surprise Post Earnings • Mar 14Revenue beats expectationsRevenue exceeded analyst estimates by 2.7%. Over the next year, revenue is forecast to grow 15% compared to a 8.6% decline forecast for the Chemicals industry in the United Kingdom.株主還元0SFNGB ChemicalsGB 市場7D4.7%1.3%0.3%1Y60.7%3.1%18.8%株主還元を見る業界別リターン: 0SFN過去 1 年間で3.1 % の収益を上げたUK Chemicals業界を上回りました。リターン対市場: 0SFN過去 1 年間で18.8 % の収益を上げたUK市場を上回りました。価格変動Is 0SFN's price volatile compared to industry and market?0SFN volatility0SFN Average Weekly Movement5.2%Chemicals Industry Average Movement8.0%Market Average Movement5.7%10% most volatile stocks in GB Market11.9%10% least volatile stocks in GB Market3.1%安定した株価: 0SFN 、 UK市場と比較して、過去 3 か月間で大きな価格変動はありませんでした。時間の経過による変動: 0SFNの 週次ボラティリティ ( 5% ) は過去 1 年間安定しています。会社概要設立従業員CEO（最高経営責任者ウェブサイト19043,000Helge Aasenwww.elkem.comElkem ASA は、世界中で先進的な材料ソリューションの提供に従事している。シリコーン、シリコーン製品、カーボン・ソリューションの各セグメントを通じて事業を展開している。同社は、シリコーンオイル、コンパウンド、エマルジョン、グリース、樹脂などのシリコーンポリマー、クロロシラン、熱硬化ゴムシリコーン、低炭素・環状シリコーン材料、エラストマーゲル、液状シリコーンゴム、RTV-1およびRTV-2シリコーンなどを提供している。また、シリコン、シリコンパウダー/微粉化シリコン、シリカフューム/マイクロシリカ、フェロシリコン、粒状精製剤、テクニカルセラミックス用特殊品からなるシリコン系材料も提供している。また、プリコンディショナー、リカーバライザー、コンディショナー、ノジュライザー、インサート、イノキュラントなどの鋳造用合金、カーボン電極、人造黒鉛、ファーネスタッピング材、電極ペースト、ラミングペースト、プリベーク電極、ファーネスライニング材などのカーボン系材料、ポリマー添加剤、炭化ホウ素、油田・耐火物用特殊製品も提供している。エレクトロニクス、航空宇宙、ヘルスケア、パーソナルケア、パッケージング、エアバッグコーティング、化学、アルミニウム、エレクトロニクス、自動車、特殊鋼、ソーラー、建設、耐火物、石油・ガス、軍事機器、合金鉄、シリコン、アルミニウム産業向けに製品を提供している。同社は1904年に設立され、ノルウェーのオスロに本拠を置く。エルケムASA はブルースター・エルケム・インターナショナル Co.S.A.もっと見るElkem ASA 基礎のまとめElkem の収益と売上を時価総額と比較するとどうか。0SFN 基礎統計学時価総額NOK 10.53b収益（TTM）NOK 331.00m売上高(TTM)NOK 16.31b31.8xPER（株価収益率0.6xP/Sレシオ0SFN は割高か？公正価値と評価分析を参照収益と収入最新の決算報告書（TTM）に基づく主な収益性統計0SFN 損益計算書（TTM）収益NOK 16.31b売上原価NOK 7.95b売上総利益NOK 8.35bその他の費用NOK 8.02b収益NOK 331.00m直近の収益報告Mar 31, 2026次回決算日Jul 10, 2026一株当たり利益（EPS）0.94グロス・マージン51.23%純利益率2.03%有利子負債／自己資本比率49.4%0SFN の長期的なパフォーマンスは？過去の実績と比較を見るView Valuation企業分析と財務データの現状データ最終更新日（UTC時間）企業分析2026/05/21 14:37終値2026/05/21 00:00収益2026/03/31年間収益2025/12/31データソース企業分析に使用したデータはS&P Global Market Intelligence LLC のものです。本レポートを作成するための分析モデルでは、以下のデータを使用しています。データは正規化されているため、ソースが利用可能になるまでに時間がかかる場合があります。パッケージデータタイムフレーム米国ソース例会社財務10年損益計算書キャッシュ・フロー計算書貸借対照表SECフォーム10-KSECフォーム10-Qアナリストのコンセンサス予想+プラス3年予想財務アナリストの目標株価アナリストリサーチレポートBlue Matrix市場価格30年株価配当、分割、措置ICEマーケットデータSECフォームS-1所有権10年トップ株主インサイダー取引SECフォーム4SECフォーム13Dマネジメント10年リーダーシップ・チーム取締役会SECフォーム10-KSECフォームDEF 14A主な進展10年会社からのお知らせSECフォーム8-K* 米国証券を対象とした例であり、非米国証券については、同等の規制書式および情報源を使用。特に断りのない限り、すべての財務データは1年ごとの期間に基づいていますが、四半期ごとに更新されます。これは、TTM（Trailing Twelve Month）またはLTM（Last Twelve Month）データとして知られています。詳細はこちら。分析モデルとスノーフレーク本レポートを生成するために使用した分析モデルの詳細は当社のGithubページでご覧いただけます。また、レポートの使用方法に関するガイドやYoutubeのチュートリアルも掲載しています。シンプリー・ウォールストリート分析モデルを設計・構築した世界トップクラスのチームについてご紹介します。業界およびセクターの指標私たちの業界とセクションの指標は、Simply Wall Stによって6時間ごとに計算されます。アナリスト筋Elkem ASA 4 これらのアナリストのうち、弊社レポートのインプットとして使用した売上高または利益の予想を提出したのは、 。アナリストの投稿は一日中更新されます。9 アナリスト機関null nullABG Sundal CollierSebastian SatzCitigroup IncElliott Geoffrey JonesDanske Bank6 その他のアナリストを表示
お知らせ • May 08Elkem ASA has completed a Follow-on Equity Offering in the amount of NOK 1.5 billion.Elkem ASA has completed a Follow-on Equity Offering in the amount of NOK 1.5 billion. Security Name: Shares Security Type: Common Stock Securities Offered: 55,555,555 Price\Range: NOK 27 Transaction Features: Subsequent Direct Listing
お知らせ • May 07+ 1 more updateElkem ASA Announces Board changesElkem ASA announced that on 30 April 2026, the following shareholder-elected board members were elected by the annual general meeting: Helge Aasen, Christian Must, Astrid Margrethe Hilde and Richard Olav Aa. The election of Helge Aasen as a board member is effective from the date of his retirement as CEO of Elkem ASA. The board of directors has resolved that Marianne E. Johnsen shall serve as interim chair of the board until the election of Helge Aasen becomes effective.
お知らせ • Apr 21CHAR Technologies Ltd. (TSXV:YES) completed the acquisition of Biocarbon Assets of Elkem ASA.CHAR Technologies Ltd. (TSXV:YES) entered into a binding asset purchase agreement to acquire Biocarbon Assets of Elkem ASA for $1 million on April 15, 2026. CHAR Tech intends to enter into a secured loan agreement with Bioveld Canada in the principal amount of $4.8 million (CAD 3.5 million). In connection with the Loan, CHAR Tech will issue an aggregate of 2 million common share purchase warrants to the Lender, subject to the approval of the TSX Venture Exchange. The proceeds of the Loan will be used to support satisfying Char Tech's obligations under the Purchase Agreement, ongoing expenses related to the Acquisition, to invest in plant upgrades and for general working capital purposes. The Acquisition is subject to customary closing conditions and is expected to close within the next week. CHAR Technologies Ltd. (TSXV:YES) completed the acquisition of Biocarbon Assets of Elkem ASA on April 20, 2026.
お知らせ • Apr 10Elkem ASA Announces Helge Aasen to Step Down as CEOElkem ASA announced that Chief Executive Officer (CEO) Helge Aasen will be stepping down from his role as CEO. Aasen will continue to serve as CEO, ensuring a smooth transition until a successor is appointed and in place. The nomination committee has proposed that Aasen shall be elected chairman of the Elkem board with effect from stepping down from the CEO role.
お知らせ • Mar 11+ 1 more updateElkem ASA to Reduce Workforce by 10%Elkem ASA introduced a new corporate structure and reducing working capital and annual costs following the approval of the announced Silicones transaction. In response to the adverse market conditions, Elkem is implementing significant cost-cutting measures as part of its reorganisation. Elkem will reduce its global workforce by approximately 300 FTEs by year-end 2026, which represents approximately 10% of the total work force after the sale of the majority of the Silicones division. This process will begin immediately and will primarily affect functions directly impacted by sale of Silicones, as well as support functions at corporate and division levels. Blue collar positions will to a lesser extent be affected.
お知らせ • Oct 24Elkem ASA Introduces New Biocompatible, Electro Conductive Silicone Rubber for Advanced Healthcare DevicesElkem ASA unveiled SILBIONE™ LSR Select EC 70, a next-generation medical-grade liquid silicone rubber. Designed for wearable and diagnostic devices, the material combines high electrical conductivity, certified biocompatibility, and enhanced process control, setting a new standard for precision healthcare applications. With resistivity below 10 ohm-centimeters, this new material offers ideal conductivity for wearable devices, flexible electronics and advanced sensors. Its liquid injection moldable form enables intricate designs, while its durability and flexibility ensure long-term performance in demanding environments. The material also offers proven biocompatibility, having successfully passed ISO 10993-5 cytotoxicity and ISO 10993-10 skin sensitization tests, making it well suited for applications such as prosthetics, diagnostic tools, and next-generation flexible circuits. Now commercially available, the innovation has been specifically engineered to be used with LSR Select™, Elkem's patented liquid silicone rubber technology designed for precision liquid injection molding. This unique system enables manufacturers to fine-tune cure kinetics directly in the mold, offering greater control, faster cycle times, and reduced waste -- supporting competitiveness, performance and sustainability goals.
お知らせ • May 08Elkem ASA has completed a Follow-on Equity Offering in the amount of NOK 1.5 billion.Elkem ASA has completed a Follow-on Equity Offering in the amount of NOK 1.5 billion. Security Name: Shares Security Type: Common Stock Securities Offered: 55,555,555 Price\Range: NOK 27 Transaction Features: Subsequent Direct Listing
お知らせ • May 07+ 1 more updateElkem ASA Announces Board changesElkem ASA announced that on 30 April 2026, the following shareholder-elected board members were elected by the annual general meeting: Helge Aasen, Christian Must, Astrid Margrethe Hilde and Richard Olav Aa. The election of Helge Aasen as a board member is effective from the date of his retirement as CEO of Elkem ASA. The board of directors has resolved that Marianne E. Johnsen shall serve as interim chair of the board until the election of Helge Aasen becomes effective.
お知らせ • Apr 21CHAR Technologies Ltd. (TSXV:YES) completed the acquisition of Biocarbon Assets of Elkem ASA.CHAR Technologies Ltd. (TSXV:YES) entered into a binding asset purchase agreement to acquire Biocarbon Assets of Elkem ASA for $1 million on April 15, 2026. CHAR Tech intends to enter into a secured loan agreement with Bioveld Canada in the principal amount of $4.8 million (CAD 3.5 million). In connection with the Loan, CHAR Tech will issue an aggregate of 2 million common share purchase warrants to the Lender, subject to the approval of the TSX Venture Exchange. The proceeds of the Loan will be used to support satisfying Char Tech's obligations under the Purchase Agreement, ongoing expenses related to the Acquisition, to invest in plant upgrades and for general working capital purposes. The Acquisition is subject to customary closing conditions and is expected to close within the next week. CHAR Technologies Ltd. (TSXV:YES) completed the acquisition of Biocarbon Assets of Elkem ASA on April 20, 2026.
お知らせ • Apr 10Elkem ASA Announces Helge Aasen to Step Down as CEOElkem ASA announced that Chief Executive Officer (CEO) Helge Aasen will be stepping down from his role as CEO. Aasen will continue to serve as CEO, ensuring a smooth transition until a successor is appointed and in place. The nomination committee has proposed that Aasen shall be elected chairman of the Elkem board with effect from stepping down from the CEO role.
お知らせ • Mar 11+ 1 more updateElkem ASA to Reduce Workforce by 10%Elkem ASA introduced a new corporate structure and reducing working capital and annual costs following the approval of the announced Silicones transaction. In response to the adverse market conditions, Elkem is implementing significant cost-cutting measures as part of its reorganisation. Elkem will reduce its global workforce by approximately 300 FTEs by year-end 2026, which represents approximately 10% of the total work force after the sale of the majority of the Silicones division. This process will begin immediately and will primarily affect functions directly impacted by sale of Silicones, as well as support functions at corporate and division levels. Blue collar positions will to a lesser extent be affected.
お知らせ • Oct 24Elkem ASA Introduces New Biocompatible, Electro Conductive Silicone Rubber for Advanced Healthcare DevicesElkem ASA unveiled SILBIONE™ LSR Select EC 70, a next-generation medical-grade liquid silicone rubber. Designed for wearable and diagnostic devices, the material combines high electrical conductivity, certified biocompatibility, and enhanced process control, setting a new standard for precision healthcare applications. With resistivity below 10 ohm-centimeters, this new material offers ideal conductivity for wearable devices, flexible electronics and advanced sensors. Its liquid injection moldable form enables intricate designs, while its durability and flexibility ensure long-term performance in demanding environments. The material also offers proven biocompatibility, having successfully passed ISO 10993-5 cytotoxicity and ISO 10993-10 skin sensitization tests, making it well suited for applications such as prosthetics, diagnostic tools, and next-generation flexible circuits. Now commercially available, the innovation has been specifically engineered to be used with LSR Select™, Elkem's patented liquid silicone rubber technology designed for precision liquid injection molding. This unique system enables manufacturers to fine-tune cure kinetics directly in the mold, offering greater control, faster cycle times, and reduced waste -- supporting competitiveness, performance and sustainability goals.
お知らせ • Oct 21Elkem Curtails Ferrosilicon Production In Norway And Iceland Due To Market ConditionsElkem ASA has announced a partial curtailment of ferrosilicon production at its plants in Rana, Norway, and Iceland due to challenging market conditions. The decision is driven by ongoing weak market conditions in Europe, which have led to rising inventory levels and lower prices. The European Union's investigation into potential safeguard measures on imports of ferrosilicon and ferroalloys has further increased uncertainty. The curtailment may result in temporary layoffs of employees as Elkem aims to reduce inventories and support a better market balance. The core product at these plants, ferrosilicon, is a critical raw material for the steel industry. Elkem's Senior Vice President for Silicon Products, Inge A. Grubben-Strømnes, emphasized the need for competitive and predictable framework conditions and continued access to the EU market for Norwegian industry.
お知らせ • Aug 11+ 5 more updatesElkem ASA to Report Q3, 2026 Results on Oct 23, 2026Elkem ASA announced that they will report Q3, 2026 results on Oct 23, 2026
New Risk • Jul 12New minor risk - Profit margin trendThe company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 8.5% Last year net profit margin: 12% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (8.5% net profit margin).
Reported Earnings • Jul 12Second quarter 2025 earnings released: kr0.17 loss per share (vs kr1.35 profit in 2Q 2024)Second quarter 2025 results: kr0.17 loss per share (down from kr1.35 profit in 2Q 2024). Revenue: kr4.33b (down 48% from 2Q 2024). Net loss: kr105.0m (down 112% from profit in 2Q 2024). Revenue is forecast to grow 29% p.a. on average during the next 3 years, compared to a 15% decline forecast for the Chemicals industry in the United Kingdom. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 63 percentage points per year, which is a significant difference in performance.
New Risk • Jul 07New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 7.2% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 7.2% per year for the foreseeable future. Minor Risk Large one-off items impacting financial results.
New Risk • Jun 18New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 0.05% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 0.05% per year for the foreseeable future. Minor Risk Large one-off items impacting financial results.
Reported Earnings • May 02First quarter 2025 earnings released: EPS: kr0.21 (vs kr0.69 loss in 1Q 2024)First quarter 2025 results: EPS: kr0.21 (up from kr0.69 loss in 1Q 2024). Revenue: kr4.35b (down 44% from 1Q 2024). Net income: kr135.0m (up kr574.0m from 1Q 2024). Profit margin: 3.1% (up from net loss in 1Q 2024). Revenue is forecast to grow 23% p.a. on average during the next 3 years, compared to a 4.3% decline forecast for the Chemicals industry in the United Kingdom. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 57 percentage points per year, which is a significant difference in performance.
Upcoming Dividend • Apr 25Upcoming dividend of kr0.30 per shareEligible shareholders must have bought the stock before 02 May 2025. Payment date: 12 May 2025. Payout ratio is a comfortable 9.4% but the company is not cash flow positive. Trailing yield: 1.6%. Lower than top quartile of British dividend payers (6.1%). Lower than average of industry peers (4.6%).
Reported Earnings • Mar 26Full year 2024 earnings released: EPS: kr3.20 (vs kr3.15 in FY 2023)Full year 2024 results: EPS: kr3.20 (up from kr3.15 in FY 2023). Revenue: kr17.8b (down 16% from FY 2023). Net income: kr2.03b (up 1.4% from FY 2023). Profit margin: 11% (up from 9.5% in FY 2023). Revenue is forecast to grow 23% p.a. on average during the next 3 years, compared to a 4.2% decline forecast for the Chemicals industry in the United Kingdom. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 52 percentage points per year, which is a significant difference in performance.
お知らせ • Mar 15Elkem to Showcase Sustainability Progress and Eco-Designed OfferingsElkem announced its participation in In-Cosmetics Global 2025, where it will highlight its ongoing commitment to sustainability and showcase its latest eco-designed products, PURESIL(TM) ORG 03 and PURESIL(TM) N DML 15. At the event, Elkem will discuss its advancements in sustainability, emphasizing its efforts to reduce environmental impact. The company continues to expand its specialty offerings to meet market demands and address unmet needs. This includes performance additives for sensory enhancement, pigment dispersion, and emulsification, which are designed to elevate product development across all categories. Visitors to Elkem's booth will have the opportunity to explore prototype formulations featuring the elastomer gel series, organofunctional silicones, and film formers. Experts from Europe, the Americas, and Asia Pacific will be available to answer questions, discuss projects, and explore potential collaborations.
Reported Earnings • Feb 13Full year 2024 earnings released: EPS: kr3.20 (vs kr0.11 in FY 2023)Full year 2024 results: EPS: kr3.20 (up from kr0.11 in FY 2023). Revenue: kr18.9b (down 45% from FY 2023). Net income: kr2.03b (up kr1.95b from FY 2023). Profit margin: 11% (up from 0.2% in FY 2023). The increase in margin was driven by lower expenses. Revenue is forecast to grow 31% p.a. on average during the next 2 years, compared to a 4.1% decline forecast for the Chemicals industry in the United Kingdom. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 56 percentage points per year, which is a significant difference in performance.
お知らせ • Feb 12Elkem ASA Proposes Ordinary Dividend for the Year 2024, Payable on About May 12, 2025The board of directors of Elkem ASA has decided to propose to the Annual General Meeting an ordinary dividend for 2024 of NOK 0.30 per share. Ex-dividend date: 02 May 2025, Record date: 05 May 2025 and Payment date: On or about 12 May 2025. Date of approval: 30 April 2025.
New Risk • Feb 06New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of British stocks, typically moving 7.3% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (1.1x net interest cover). Minor Risks Share price has been volatile over the past 3 months (7.3% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.1% net profit margin).
お知らせ • Nov 28Elkem ASA Secures EUR 1.8 Million European Union Grant to Explore CO2-Free Silicon ProductionElkem ASA has secured EUR 1.8 million in funding from the European Union for the groundbreaking Elkem Sicalo® (Silicon production with carbon looping) project, which aims to eliminate all CO2 emissions from silicon production. Elkem, SINTEF and NORCE are completing the first pilot phase of Elkem Sicalo® at Elkem's technology park in Kristiansand, Norway. The project entails capturing the carbon emitted from the silicon furnace and reusing it as a reductant in the silicon production process. The EU has now granted EUR 9.9 million in funding for the Horizon Europe project MECALO, which builds on Elkem Sicalo®. MECALO will develop the concept of carbon looping further for general metal production, with demonstration of zero CO2 silicon and manganese alloys. The manganese alloys producer Eramet, with its six smelters in Norway, France, the United States and Gabon, is the other metallurgical company in the consortium aiming to develop and use the technology from MECALO. If successful and fully implemented in all European production of silicon and manganese, MECALO could save 33 million tonnes of CO2 emissions per year in 2050. Silicon is a raw material that is critical for the green and digital transitions. Its application ranges from electric vehicles to solar cells, batteries, smart phones and wind turbines. The production of silicon is a source of greenhouse gas emissions, as the process requires carbon to reduce quartz into silicon. Some metals, such as steel, can be produced with hydrogen as a reductant. This is not possible for silicon, manganese and several other metals. That's why pioneering projects such as MECALO are needed, to develop innovative production methods without CO2 emissions. The MECALO project will research and develop a new production method that involves capturing carbon oxides from process off-gases, converting them to solid carbon using low-carbon hydrogen, and reusing the recovered carbon as a reduction material to produce critical metals and materials. While this method is showing promising results, it also presents challenges that need to be resolved, such as increased energy use. The overall budget for MECALO is EUR 9.9 million (NOK 116 million), with Elkem's budget and requested grant amounting to EUR 1.8 million (NOK 21 million). Key highlights of the MECALO project: Innovative carbon capture and reuse: Capturing carbon oxides from off-gases and converting them into solid carbon using hydrogen, which is then reused in metal production. Elimination of external carbon feedstock: The process aims to eliminate the need for external carbon in carbothermic production. Researching production of "turquoise hydrogen": A project partner will research methane pyrolysis, whereby methane is cracked into hydrogen and solid carbon, using only a fifth of the energy required for green hydrogen production. Elkem has been working on Elkem Sicalo® with SINTEF as its research partner since 2021, with support from The Research Council of Norway from 2022-2024. The research partners are now initiating the second phase of the project with extensive pilot testing of various stages of the production process, with support from Enova.
New Risk • Oct 25New major risk - Financial positionThe company's interest payments are not well covered by earnings. Net interest cover: 0.9x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (0.9x net interest cover). Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.1% net profit margin).
Reported Earnings • Oct 25Third quarter 2024 earnings released: EPS: kr0.14 (vs kr0.72 loss in 3Q 2023)Third quarter 2024 results: EPS: kr0.14 (up from kr0.72 loss in 3Q 2023). Revenue: kr8.06b (up 4.0% from 3Q 2023). Net income: kr92.0m (up kr548.0m from 3Q 2023). Profit margin: 1.1% (up from net loss in 3Q 2023). Revenue is forecast to grow 9.6% p.a. on average during the next 3 years, compared to a 6.2% decline forecast for the Chemicals industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 60% per year but the company’s share price has only fallen by 17% per year, which means it has not declined as severely as earnings.
お知らせ • Oct 18Elkem to Launch A New Generation of Silicone Solutions for Additive Manufacturing/3D Printing At Formnext 2024 in FrankfurtElkem announced its groundbreaking latest product innovation, enlarging its portfolio of silicone solutions of the AMSil™ and AMSil™ Silbione™ ranges for Additive Manufacturing/3D Printing, at the upcoming Formnext show in Frankfurt Germany from November 19th to 22nd 2024. After having already successfully launched the AMSil™ & AMSil Silbione™brand and being acknowledged for this disruptive silicone solutions as a winner in the 2021 R&D 100 award, Elkem is continuing its material innovation campaign in Additive Manufacturing/3D Printing. In addition to the existing AMSil™ 20501/AMSil Silbione™ 24501 and AMSil™ 20502 (special for food grade) range, Elkem has developed the new AMSil™ 20503 & AMSil Silbione™ 24503 range. Besides a longer shelf life for easier handling these new formulations are laying the base and open perspectives for an enlarged use in restricted and unrestricted medical application in the future. The new developments are available with Shore A hardness from ShA 10 to ShA 70 with all well-known properties of 100% silicones for LDM (Liquid Deposit Molding) based systems. Elkem will also launch a new reference AMSil™ 92102 in the support material series. This paste like water soluble material has improved printability and surface aspects and is suitable for use in common with the AMSil™and AMSil Silbione™ range allowing to taking advantage of features and structures associated with the freedom of design approach inherent to Additive Manufacturing/3D Printing. These latest developments show the commitment from Elkem to Additive Manufacturing/3D Printing and its potential of being part of a more sustainable economy in the future. Scaling Additive Manufacturing/3D Printing to industrial levels through Digital Manufacturing will create innovative, profitable, and sustainable solutions, reducing waste, transportation, and storage costs, thereby lowering the carbon footprint of end-products.
Reported Earnings • Jul 13Second quarter 2024 earnings released: EPS: kr1.35 (vs kr0.057 in 2Q 2023)Second quarter 2024 results: EPS: kr1.35 (up from kr0.057 in 2Q 2023). Revenue: kr8.49b (down 5.0% from 2Q 2023). Net income: kr854.0m (up kr818.0m from 2Q 2023). Profit margin: 10% (up from 0.4% in 2Q 2023). Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 6.8% decline forecast for the Chemicals industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 36% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings.
Buy Or Sell Opportunity • Jul 02Now 50% undervalued after recent price dropOver the last 90 days, the stock has fallen 4.2% to kr20.57. The fair value is estimated to be kr41.50, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.5% over the last 3 years. Meanwhile, the company became loss making.
お知らせ • Jun 26Elkem ASA, Annual General Meeting, Apr 30, 2025Elkem ASA, Annual General Meeting, Apr 30, 2025.
お知らせ • Jun 25+ 4 more updatesElkem ASA to Report First Half, 2025 Results on Jul 15, 2025Elkem ASA announced that they will report first half, 2025 results on Jul 15, 2025
Buy Or Sell Opportunity • Jun 25Now 20% overvaluedOver the last 90 days, the stock has fallen 2.3% to kr20.82. The fair value is estimated to be kr17.33, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 8.5% over the last 3 years. Meanwhile, the company became loss making.
お知らせ • Apr 23Elkem ASA Announces Board ChangesElkem's annual general meeting on 18 April 2024, the board has decided to elect Bo Li as the new Chair. Bo Li is also Chair of the board of China National Bluestar (Bluestar), Elkem's majority shareholder, and a subsidiary of Sinochem. The former Chair, Zhigang Hao, will continue as board member in Elkem, and holds the position as CEO of Adisseo, a subsidiary of Bluestar. Dag J. Opedal will continue as Vice Chair of the board of directors.
Buy Or Sell Opportunity • Apr 19Now 27% undervalued after recent price dropOver the last 90 days, the stock has fallen 12% to kr18.87. The fair value is estimated to be kr25.91, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.5% over the last 3 years. Meanwhile, the company became loss making.
Reported Earnings • Mar 24Full year 2023 earnings released: EPS: kr0.11 (vs kr15.09 in FY 2022)Full year 2023 results: EPS: kr0.11 (down from kr15.09 in FY 2022). Revenue: kr34.4b (down 24% from FY 2022). Net income: kr72.0m (down 99% from FY 2022). Profit margin: 0.2% (down from 21% in FY 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 4.2% decline forecast for the Chemicals industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has fallen by 16% per year, which means it is significantly lagging earnings.
Board Change • Mar 21Less than half of directors are independentFollowing the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 7 non-independent directors. Independent Director Nathalie Brunelle was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.
お知らせ • Mar 12An unknown buyer acquired unknown minority stake in Vianode AS from Elkem ASA (OB:ELK).An unknown buyer acquired unknown minority stake in Vianode AS from Elkem ASA (OB:ELK) on March 11, 2024.An unknown buyer completed the acquisition of unknown minority stake in Vianode AS from Elkem ASA (OB:ELK) on March 11, 2024.
お知らせ • Mar 08Elkem Appoints Sandy Chen as Acting Senior Vice President for Silicones DivisionElkem ASA announced that Larry Zhang has accepted a new position in Sinochem and Sandy Chen has been appointed Acting Senior Vice President for Elkem's Silicones division, a leading global player in fully integrated silicone manufacturing. Both will step into their new roles with immediate effect. Sandy Chen comes from the position as the Vice President Asia Pacific region in the Elkem Silicones division. Sandy has a long and extensive experience both within leadership and the silicones global business. She holds a polymer master's degree from Beijing Technology and Business University.
お知らせ • Jan 16Elkem ASA (OB:ELK) entered into Share Purchase Agreement to acquire REC Solar Norway AS from REC Solar Holdings AS for approximately NOK 230 million.Elkem ASA (OB:ELK) entered into Share Purchase Agreement to acquire REC Solar Norway AS from REC Solar Holdings AS for approximately NOK 230 million on January 14, 2024. Under the terms of agreement, Elkem is paying consideration in cash. RIL will continue to retain the technology and intellectual property rights pertaining to kerf-based Polysilicon. Upon completion of the sale, REC Norway will cease to be a subsidiary of the Company. REC Solar Holdings AS and its subsidiaries, engaged in the business of manufacturing and sale of Solar PV HJT cells and modules, will continue to be RIL’s subsidiaries. This transaction will give Elkem control of industrial areas and facilities in Norway, including areas next to Elkem’s activities at Fiskaa in Kristiansand. The transaction remains subject to necessary approvals, including from the Norwegian Competition Authority. The transaction is also subject to certain regulatory and other customary closing conditions and transaction does not fall within related party transactions. The transaction is expected to complete by April 2024.
お知らせ • Dec 23Elkem Postpones Start-Up of Iceland FurnaceElkem will postpone the start-up of its furnace 3 on Iceland by one month. This follows a notice from the national power company about the need for electricity curtailment for large energy users due to low water levels in key hydropower reservoirs. Elkem's furnace 3 on Iceland was temporarily shut down in the fourth quarter ofthis year in order to accelerate maintenance, with a ramp-down starting from 30 September. The planned start-up has now been postponed until the end of January 2024. This postponement will have no impact on customers or employees.
Reported Earnings • Oct 26Third quarter 2023 earnings released: kr0.72 loss per share (vs kr4.81 profit in 3Q 2022)Third quarter 2023 results: kr0.72 loss per share (down from kr4.81 profit in 3Q 2022). Revenue: kr7.92b (down 28% from 3Q 2022). Net loss: kr456.0m (down 115% from profit in 3Q 2022). Revenue is forecast to stay flat during the next 3 years compared to a 5.9% decline forecast for the Chemicals industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 49% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings.
Buying Opportunity • Oct 19Now 20% undervalued after recent price dropOver the last 90 days, the stock is down 23%. The fair value is estimated to be kr22.75, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 26% over the last 3 years. Earnings per share has grown by 73%. Revenue is forecast to decline by 5.7% in 2 years. Earnings is forecast to decline by 56% in the next 2 years.
お知らせ • Aug 29Elkem Launches UV Hg and UV LED Curable Silicone Solutions for Sustainable Release CoatingsElkem launched SILCOLEASE UV POLY 126 a new 'Ready-To-Use' UV acrylate formulation especially designed for release coating of thermal labels that are self-wound without the use of a separate release liner. It guarantees the desired level of performance during the manufacturing, cutting, converting and printing stages, making it possible to develop sustainable thermal printed linerless labels and enable a circular economy. Elkem is one of the world's leading suppliers of silicon-based advanced material solutions shaping a better and more sustainable future. Elkem is committed to develop products needed for the green transition and minimizing the negative environmental and social impact of these products. Elkem is offering silicone release coatings in the widest range of formats, including solvent-based, water-dilutable emulsion formulations, solventless thermal and UV. Users can choose the most appropriate system for their specific coating equipment and substrate while taking into account energy, sustainability, regulatory and safety requirements. UV LED technology has emerged as a promising method for radiation curing silicone chemistries at specific wavelengths as an alternative to mercury vapor curing lamps. In addition to its effectiveness and flexibility compared to standard mercury lamps, UV LED provides the benefit of improved sustainability by consuming less energy and the elimination of greenhouse gas produced. To support the Label Industry in its transition to a more sustainable footprint, and the conversion to UV LED curing, Elkem introduces new UV LED curable silicone solutions, SILCOLEASE UV LED Series. SILCOLEASE UV LED systems utilizing Elkem photoinitiator demonstrate excellent cure and physical properties for more sustainable release coatings. Elkem launches SILCOLEASE UV POLY 126 a new "Ready-To-Use" UV acrylate formulation especially designed for release coating of thermal labels that are self-wound without the use of a separate release liner. It guarantees the desired level of performance during the manufacturing, cutting, converting and printing stages, making it possible to develop sustainable thermal printed linerless labels and enable a circular economy. The latest addition to the SILCOLEASE UV 100 acrylate series, SILCOLEASE UV POLY 125 fills the gap between release force that can be too light and release force that can be too tight. This formulation works well with a wide variety of permanent self-adhesives and removable adhesives. It successfully cures under Hg UV and specified UV LED parameters.
Recent Insider Transactions • Jul 16Chief Executive Officer recently bought kr500k worth of stockOn the 14th of July, Helge Aasen bought around 22k shares on-market at roughly kr22.50 per share. This transaction amounted to 48% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Helge's only on-market trade for the last 12 months.
New Risk • Jul 15New minor risk - Profit margin trendThe company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 12% Last year net profit margin: 21% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 7.9% per year for the foreseeable future. Minor Risks Dividend is not well covered by cash flows (339% cash payout ratio). Profit margins are more than 30% lower than last year (12% net profit margin).
Reported Earnings • Jul 14Second quarter 2023 earnings released: EPS: kr0.057 (vs kr4.67 in 2Q 2022)Second quarter 2023 results: EPS: kr0.057 (down from kr4.67 in 2Q 2022). Revenue: kr9.26b (down 24% from 2Q 2022). Net income: kr36.0m (down 99% from 2Q 2022). Profit margin: 0.4% (down from 25% in 2Q 2022). Revenue is forecast to grow 1.1% p.a. on average during the next 3 years, compared to a 7.3% decline forecast for the Chemicals industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 73% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth.
お知らせ • Jun 10Elkem ASA (OB:ELK) acquired VUM, a.s. from ZSNP, a.s.Elkem ASA (OB:ELK) acquired VUM, a.s. from ZSNP, a.s. on June 9, 2023. With the transaction complete, VUM will rebrand and operate under Elkem Carbon AS, a wholly-owned subsidiary of Elkem ASA. VUM will continue the operations under its current management. Elkem expects the acquisition to contribute with an additional turnover of around NOK 360 million per year. Elkem ASA (OB:ELK) completed the acquisition of VUM, a.s. from ZSNP, a.s.
お知らせ • May 23+ 5 more updatesElkem ASA to Report Q3, 2024 Results on Oct 24, 2024Elkem ASA announced that they will report Q3, 2024 results on Oct 24, 2024
Valuation Update With 7 Day Price Move • May 05Investor sentiment deteriorates as stock falls 16%After last week's 16% share price decline to kr30.10, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 20x in the Chemicals industry in the United Kingdom. Total returns to shareholders of 121% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at kr39.19 per share.
Buying Opportunity • May 03Now 23% undervalued after recent price dropOver the last 90 days, the stock is down 16%. The fair value is estimated to be kr39.27, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 28% over the last 3 years. Earnings per share has grown by 89%. Revenue is forecast to decline by 7.3% in 2 years. Earnings is forecast to decline by 56% in the next 2 years.
Upcoming Dividend • Apr 25Upcoming dividend of kr6.00 per share at 17% yieldEligible shareholders must have bought the stock before 02 May 2023. Payment date: 10 May 2023. Payout ratio is a comfortable 40% and this is well supported by cash flows. Trailing yield: 17%. Within top quartile of British dividend payers (5.8%). Higher than average of industry peers (2.3%).
Reported Earnings • Mar 22Full year 2022 earnings released: EPS: kr15.09 (vs kr7.49 in FY 2021)Full year 2022 results: EPS: kr15.09 (up from kr7.49 in FY 2021). Revenue: kr45.0b (up 36% from FY 2021). Net income: kr9.56b (up 107% from FY 2021). Profit margin: 21% (up from 14% in FY 2021). The increase in margin was driven by higher revenue. Revenue is expected to decline by 1.5% p.a. on average during the next 3 years, while revenues in the Chemicals industry in the United Kingdom are expected to grow by 2.1%. Over the last 3 years on average, earnings per share has increased by 99% per year but the company’s share price has only increased by 39% per year, which means it is significantly lagging earnings growth.
Board Change • Mar 20Less than half of directors are independentFollowing the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 7 non-independent directors. Independent Director Nathalie Brunelle was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.
お知らせ • Feb 08+ 1 more updateElkem Asa Provides Earnings Guidance for the Year 2024Elkem ASA provided earnings guidance for the year 2024. For the period, the company expansion is expected to generate additional sales in excess of NOK 300 million per year from 2024.
お知らせ • Jan 18+ 1 more updateElkem Announces Executive Changes, Effective 1 February 2023Morten Magnus Voll appointed as Elkem's Senior Vice President (SVP) for Strategy and Business Development. He replaces Frederic Jacquin who has decided to take on a senior leadership role in Adisseo. Morten Magnus Voll will start in his role as SVP for Strategy and Business Development from 1 February 2023. In the new role, he will be responsible for corporate strategy and business development, including mergers and acquisitions (M&A) and new growth projects supporting all of Elkem's business divisions. Voll comes from the role of VP Finance, IT and Supply Chain for the Silicones division in Elkem. He has close to 19 years' experience in the company, including several global leadership roles. He started in the company as a business analyst and holds a Master of Technology degree from the Norwegian University of Science and Technology (NTNU). Frederic Jacquin has been with Elkem and predecessor companies since the early 1990s, for the last eight years in roles as Senior Vice President for Strategy and Business Development and the Silicones division, respectively. He has been appointed Chief Operation Officer and Deputy General Manager in Adisseo.
Board Change • Nov 24Less than half of directors are independentFollowing the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 7 non-independent directors. Independent Director Nathalie Brunelle was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.
お知らせ • Aug 20+ 4 more updatesElkem ASA to Report Q3, 2023 Results on Oct 25, 2023Elkem ASA announced that they will report Q3, 2023 results on Oct 25, 2023
Recent Insider Transactions • Jul 31Insider recently sold kr397k worth of stockOn the 29th of July, Luiz Simao sold around 10k shares on-market at roughly kr39.72 per share. In the last 3 months, there was an even bigger sale from another insider worth kr1.9m. Insiders have been net sellers, collectively disposing of kr7.7m more than they bought in the last 12 months.
Reported Earnings • Jul 19Second quarter 2022 earnings released: EPS: kr4.67 (vs kr0.98 in 2Q 2021)Second quarter 2022 results: EPS: kr4.67 (up from kr0.98 in 2Q 2021). Revenue: kr12.3b (up 72% from 2Q 2021). Net income: kr2.96b (up 386% from 2Q 2021). Profit margin: 24% (up from 8.5% in 2Q 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is expected to shrink by 11% compared to a 16% decline forecast for the industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 84% per year but the company’s share price has only increased by 16% per year, which means it is significantly lagging earnings growth.
Valuation Update With 7 Day Price Move • Jul 05Investor sentiment deteriorated over the past weekAfter last week's 17% share price decline to kr27.60, the stock trades at a forward P/E ratio of 3x. Average forward P/E is 18x in the Chemicals industry in the United Kingdom. Total returns to shareholders of 32% over the past three years.
Valuation Update With 7 Day Price Move • Jun 13Investor sentiment deteriorated over the past weekAfter last week's 16% share price decline to kr32.96, the stock trades at a forward P/E ratio of 3x. Average forward P/E is 17x in the Chemicals industry in the United Kingdom. Total returns to shareholders of 65% over the past three years.
Recent Insider Transactions • May 17Senior Vice President of Technology recently sold kr1.8m worth of stockOn the 13th of May, Havard Moe sold around 50k shares on-market at roughly kr36.02 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of kr7.3m more than they bought in the last 12 months.
Reported Earnings • Apr 27Full year 2021 earnings released: EPS: kr7.49 (vs kr0.41 in FY 2020)Full year 2021 results: EPS: kr7.49 (up from kr0.41 in FY 2020). Revenue: kr33.1b (up 38% from FY 2020). Net income: kr4.63b (up kr4.39b from FY 2020). Profit margin: 14% (up from 1.0% in FY 2020). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 15% compared to a 14% decline forecast for the industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings.
Board Change • Apr 27Less than half of directors are independentFollowing the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 6 non-independent directors. Independent Director Grace Tang was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.
Upcoming Dividend • Apr 21Upcoming dividend of kr3.00 per shareEligible shareholders must have bought the stock before 28 April 2022. Payment date: 06 May 2022. Payout ratio is a comfortable 40% and this is well supported by cash flows. Trailing yield: 7.1%. Within top quartile of British dividend payers (4.6%). Higher than average of industry peers (2.6%).
Reported Earnings • Mar 18Full year 2021 earnings: Revenues and EPS in line with analyst expectationsFull year 2021 results: EPS: kr7.49 (up from kr0.41 in FY 2020). Revenue: kr33.1b (up 38% from FY 2020). Net income: kr4.63b (up kr4.39b from FY 2020). Profit margin: 14% (up from 1.0% in FY 2020). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Over the next year, revenue is forecast to grow 9.4% compared to a 11% decline forecast for the industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings.
Recent Insider Transactions • Feb 11Senior Vice President of Technology recently sold kr1.7m worth of stockOn the 9th of February, Havard Moe sold around 50k shares on-market at roughly kr34.50 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of kr7.0m more than they bought in the last 12 months.
Reported Earnings • Feb 10Full year 2021 earnings: Revenues and EPS in line with analyst expectationsFull year 2021 results: EPS: kr7.49 (up from kr0.41 in FY 2020). Revenue: kr33.7b (up 40% from FY 2020). Net income: kr4.63b (up kr4.39b from FY 2020). Profit margin: 14% (up from 1.0% in FY 2020). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Over the next year, revenue is forecast to grow 6.0% compared to a 3.2% decline forecast for the industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has increased by 8% per year, which means it is well ahead of earnings.
Reported Earnings • Oct 29Third quarter 2021 earnings released: EPS kr2.16 (vs kr0.18 loss in 3Q 2020)The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: kr8.80b (up 54% from 3Q 2020). Net income: kr1.37b (up kr1.48b from 3Q 2020). Profit margin: 16% (up from net loss in 3Q 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 47% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings.
Recent Insider Transactions • Oct 29Senior Vice President of Technology recently sold kr1.9m worth of stockOn the 27th of October, Havard Moe sold around 50k shares on-market at roughly kr37.80 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of kr5.2m more than they bought in the last 12 months.
Reported Earnings • Jul 18Second quarter 2021 earnings released: EPS kr0.98 (vs kr0.022 loss in 2Q 2020)The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: kr7.17b (up 26% from 2Q 2020). Net income: kr609.0m (up kr622.0m from 2Q 2020). Profit margin: 8.5% (up from net loss in 2Q 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 63 percentage points per year, which is a significant difference in performance.
Executive Departure • Jul 13Chief Executive Officer Michael Koenig has left the companyOn the 30th of June, Michael Koenig was replaced as CEO by Helge Aasen after 1.6 years in the role. We don't have any record of a personal shareholding under Michael's name. Michael is the only executive to leave the company over the last 12 months. The current median tenure of the management team is 10.50 years. Under Michael's leadership, the company delivered a total shareholder return of 43%.
Reported Earnings • Apr 28First quarter 2021 earnings released: EPS kr1.18 (vs kr0.43 in 1Q 2020)The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: kr7.19b (up 27% from 1Q 2020). Net income: kr684.0m (up 173% from 1Q 2020). Profit margin: 9.5% (up from 4.4% in 1Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 66 percentage points per year, which is a significant difference in performance.
Upcoming Dividend • Apr 21Upcoming dividend of kr0.15 per shareEligible shareholders must have bought the stock before 28 April 2021. Payment date: 06 May 2021. Trailing yield: 0.4%. Lower than top quartile of British dividend payers (4.1%). Lower than average of industry peers (1.6%).
Recent Insider Transactions • Mar 27Director recently sold kr1.5m worth of stockOn the 26th of March, Helge Aasen sold around 40k shares on-market at roughly kr37.00 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of kr1.1m more than they bought in the last 12 months.
Reported Earnings • Mar 14Full year 2020 earnings released: EPS kr0.41 (vs kr1.47 in FY 2019)The company reported a soft full year result with weaker earnings and profit margins, although revenues improved. Full year 2020 results: Revenue: kr24.0b (up 8.0% from FY 2019). Net income: kr239.0m (down 72% from FY 2019). Profit margin: 1.0% (down from 3.8% in FY 2019).
Analyst Estimate Surprise Post Earnings • Mar 14Revenue beats expectationsRevenue exceeded analyst estimates by 2.7%. Over the next year, revenue is forecast to grow 15% compared to a 8.6% decline forecast for the Chemicals industry in the United Kingdom.
