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Jun 30
Ferroglobe Q2 2025 Earnings Report
Ferroglobe reported a sequential rebound in adjusted EBITDA and maintained a solid cash position in the second quarter of 2025, despite external challenges.
Key Takeaways
Ferroglobe experienced a challenging second quarter in 2025 due to significant external factors, including aggressive silicon metal imports into Europe from China and broader geopolitical uncertainty. However, the company achieved a strong sequential rebound in adjusted EBITDA, driven by increased sales volumes and improved pricing in silicon metal and manganese-based alloys. The company maintained a solid cash position and ended the quarter in a net cash position for the sixth consecutive quarter.
Sales increased by 25.9% quarter-over-quarter to $386.9 million, but decreased by 14.2% year-over-year.
Adjusted EBITDA saw a significant rebound, reaching $21.6 million, compared to a negative adjusted EBITDA in the prior quarter.
Net loss attributable to the parent improved to $(10.5) million from $(66.5) million in the previous quarter.
The company maintained a strong liquidity profile with total cash of $135.5 million and a net cash position of $10.3 million.
Ferroglobe
Ferroglobe
Ferroglobe Revenue by Segment
Revenue by Segment
Silicon Metal Revenue
CapyFin.comSilicon-Based Alloys Revenue
CapyFin.comManganese-Based Alloys Revenue
CapyFin.com Forward Guidance
Ferroglobe is withdrawing its guidance due to elevated macro uncertainty and limited visibility. However, the company anticipates positive impacts from ongoing trade actions and expects these tailwinds, along with disciplined execution and prudent capital allocation, to position it for stronger performance and long-term value creation in 2026.
Positive Outlook
- Ongoing EU safeguard investigation expected to reduce import-driven price pressure.
- U.S. antidumping duties are positively impacting the ferrosilicon market.
- Early benefits are being seen from U.S. trade actions.
- Upcoming decisions in both the U.S. and the EU could provide meaningful support for fair competition and improved pricing.
- Company expects disciplined execution and prudent capital allocation to drive stronger performance and long-term value creation in 2026.
Challenges Ahead
- Guidance is being withdrawn due to elevated macro uncertainty.
- Limited visibility into future market conditions.
- Significant external challenges, including aggressive silicon metal imports into Europe from China.
- Broader geopolitical uncertainty continues to impact the market.
- Persistent market volatility and regulatory uncertainty.