Ferroglobe foresees $33mln cashflow for 2020

In a reversal of fortune, Ferroglobe Plc expects to show $33 million of cashflow when it releases its 2020 financial results, the Western Hemisphere’s biggest silicon producer told investors in a call on Wednesday February 3.

“Adjusted Ebitda for the full year 2020 is expected to be positive $33 million, which compares with negative $37 million for the full year 2019,” Marco Levi, Ferroglobe’s chief executive officer, said.
The company’s fourth-quarter and full-year financial results have yet to be audited and are subject to change, he added.
Ebitda - earnings before interest, taxes, depreciation, and amortization - is used to measure cashflow because it removes the non-cash operating expenses, such as depreciation.

Levi’s remarks followed Ferroglobe’s February...

Published

Orla O'Sullivan

February 04, 2021

08:10 GMT

New York