ELKEM ASA
Sector unknown·ELK · Oslo Børs·Fiscal year to 31/12/2024
Exposure profile
Derived from what the company itself writes. Empty directions mean the report doesn't mention themes of that type.
In their own words
Grouped by theme, from the management review in the annual report. A · The company itself is a verbatim quote, B · From the report is without a verified quote.
Automotive
End markets
DriverNegative impact: weakens
“Weak global economic growth, inflationary pressures and high interest rates have led to a slump in demand in the construction market in China and in Europe, and created headwinds for the automotive and steel sectors in Europe and the US. There has been an oversupply of silicone capacity in China.”
Annual report 2024A · The company itself
Market
“The Silicones division serves diverse markets, from electric cars to construction, via electronics, aerospace, healthcare, personal care, packaging, airbag coating and more.”
Annual report 2024A · The company itself
Market
“Elkem helps its customers create and improve essential innovations like electric mobility, digital communications, health, and personal care as well as smarter and more sustainable cities.”
Annual report 2024A · The company itself
Market
“This has generally resulted in weak demand, particularly from construction and automotive, which are important end-markets to Elkem.”
Annual report 2024A · The company itself
Market
“The new centre was inaugurated in 2024 following a comprehensive upgrade of the centre’s research system and hardware, and the establishment of four application centers for E-mobility, bioscience, coating and 3D printing, to develop high-performance products and promote the innovative development of the industry. The centre supports customers in the Asia-Pacific region improve their innovation capabilities, accelerate the development of new products and applications and seize emerging opportunities for advanced silicone products and technology in the region.”
Annual report 2024A · The company itself
Market
“Elkem’s R&I efforts contribute to the development of new products with tailored properties for high-end markets, new additives for process aids, or reinforced materials and support with critical analysis information needed for troubleshooting.”
Annual report 2024A · The company itself
Market
“Specialisation and customisation: Elkem develops customised products tailored to the needs of various industries, including renewable energy, electronics, automotive, and construction.”
Annual report 2024A · The company itself
Market
“Elkem’s focus on advanced silicon-based materials positions the company to benefit from the growing demand for electric vehicles (EVs), energy storage, and renewable power. Products such as EV battery components, silicone insulation, and low-carbon graphite enable Elkem to contribute to the transition while increasing its market share.”
Annual report 2024A · The company itself
Market
“Transitional opportunity Opportunity type Products and services Products and services Probability High High Potential financial impact High High Time horizon Short Medium Description The increasing demand for electric vehicles (EVs) and battery cells presents an opportunity for Elkem, as the company supply key components needed for these products. Silicones are used as a non-flammabl insulation for wiring and batteries, and EVs require four times more silicone compared to internal combustion vehicles.”
Annual report 2024A · The company itself
Business cycle and GDP growth
Macro
DriverNegative impact: weakens
“Weak global economic growth, inflationary pressures and high interest rates have led to a slump in demand in the construction market in China and in Europe, and created headwinds for the automotive and steel sectors in Europe and the US. There has been an oversupply of silicone capacity in China.”
Annual report 2024A · The company itself
DriverMixed impact: mixed
“In doing so, we will ensure that Elkem remains a competitive producer of world-leading advanced materials, creating value for all stakeholders through profitable and sustainable growth.”
Annual report 2024A · The company itself
DriverNegative impact: weakens
“Operating income for the Silicon Products division decreased by 13 per cent due to negative price development for silicon and ferrosilicon driven by weaker demand, in addition to lower sales volume. Carbon Solutions’ operating income decreased by 13 per cent, driven by lower prices and lower sales volumes.”
Annual report 2024A · The company itself
DriverNegative impact: weakens
“EBITDA improved to NOK 4 146 million in 2024 resulting in an EBITDA 1 margin of 13 per cent compared to 11 per cent in 2023.”
Annual report 2024A · The company itself
DriverNegative impact: weakens
“Consolidated profit and loss statement Consolidated operating income for the Elkem group amounted to NOK 33 004 million compared to NOK 34 760 million in 2023.”
Annual report 2024A · The company itself
DriverNegative impact: weakens
“The challenging conditions of 2023 persisted throughout 2024, with weak growth, high inflation, and high interest rates. This has generally resulted in weak demand, particularly from construction and automotive, which are important end-markets to Elkem.”
Annual report 2024A · The company itself
DriverNegative impact: weakens
“The challenging market conditions of 2023 continued throughout 2024, affecting sales prices and demand for most of Elkem’s products.”
Annual report 2024A · The company itself
StrategyPositive impact: strengthens
“We completed the silicones expansion project in China on time and on budget in May. The plant was ramped up in six months, increasing overall production capacity by 50 per cent, i.e. an additional 120 kmt silox annually.”
Annual report 2024A · The company itself
Chains out: this strengthens Global trade volumes, strengthens Construction
Carbon tax and ETS prices
Regulation
DriverNegative impact: weakens
“Elkem is committed to reducing its total fossil CO 2 emissions by 25 per cent from 2022 to 2030.”
Annual report 2024A · The company itself
DriverNegative impact: weakens
“Climate risk and environmental regulations necessitate reduced emissions and more sustainable solutions.”
Annual report 2024A · The company itself
DriverNegative impact: weakens
“Transitional risks Risk type Probability Potential financial impact Time horizon Description Mitigation Regulatory High Medium Short Elkem produces silicon and ferrosilicon in Norway and Iceland, and silicones in France, all under the EU's emission trading system (ETS). Changes in free allowances or higher prices may raise Elkem's direct costs.”
Annual report 2024A · The company itself
StrategyPositive impact: strengthens
“Other climate technology breakthroughs included the successful completion of the world’s first pilot for carbon capture and storage (CCS) at a smelter, at our Rana facility in Northern Norway. The high capture rates of up to 95 per cent, combined with low amine degradation, proved the technical effectiveness of the technology.”
Annual report 2024A · The company itself
StrategyPositive impact: strengthens
“Elkem is continuously pursuing its global climate roadmap to reduce the average product group carbon footprint by 32 per cent by 2030, and achieve carbon-neutral production globally by 2050. The ambition is to strengthen our position at the forefront of green leadership and be a part of the solution to combat climate change by reducing our emissions, supplying the green transition, and enabling circular economies.”
Annual report 2024A · The company itself
StrategyPositive impact: strengthens
“The strategy contains the following targets: 5 per cent annual growth and a 25 per cent reduction in CO 2 emissions (scope 1 and 2) by 2030.”
Annual report 2024A · The company itself
StrategyPositive impact: strengthens
“One of the biggest milestones in 2024, was the successful scaling of our chemical silicone waste upcycling project from a laboratory to a pilot unit at our Saint-Fons production site in Lyon, France. This will enable high conversion rates, chemical selectivity, and lower carbon emissions due to low process temperatures.”
Annual report 2024A · The company itself
StrategyPositive impact: strengthens
“The project entails capturing the carbon emitted from the silicon furnace and reusing it as a reductant in the silicon production process.”
Annual report 2024A · The company itself
Chains out: this weakens Shipping and logistics, strengthens Energy efficiency, weakens Cement and building materials
Construction
End markets
DriverNegative impact: weakens
“Weak global economic growth, inflationary pressures and high interest rates have led to a slump in demand in the construction market in China and in Europe, and created headwinds for the automotive and steel sectors in Europe and the US. There has been an oversupply of silicone capacity in China.”
Annual report 2024A · The company itself
Market
“Silica fume, also known as Microsilica, is a byproduct of the carbothermic reduction of high purity quartz in electric arc furnaces. Originally a residual product emitted into the air until the 1980s, Elkem transformed this by-product into a range of valuable materials, contributing to the construction of iconic structures such as some of the world’s tallest buildings and longest bridges.”
Annual report 2024A · The company itself
Market
“The Silicones division serves diverse markets, from electric cars to construction, via electronics, aerospace, healthcare, personal care, packaging, airbag coating and more.”
Annual report 2024A · The company itself
Market
“Elkem helps its customers create and improve essential innovations like electric mobility, digital communications, health, and personal care as well as smarter and more sustainable cities.”
Annual report 2024A · The company itself
Market
“This has generally resulted in weak demand, particularly from construction and automotive, which are important end-markets to Elkem.”
Annual report 2024A · The company itself
Market
“Specialisation and customisation: Elkem develops customised products tailored to the needs of various industries, including renewable energy, electronics, automotive, and construction.”
Annual report 2024A · The company itself
Market
“Elkem helps its customers create and improve essential innovations like electric mobility, digital communications, health and personal care as well as smarter and more sustainable cities.”
Annual report 2024A · The company itself
Market
“Some of the operations at our production sites are exempt from the requirements due to the nature of the operations and are thus not suitable for persons with disabilities.”
Annual report 2024A · The company itself
Chains in: Interest rates weakens, Housing market strengthens, Public investment and infrastructure strengthens, Business cycle and GDP growth strengthens, Reconstruction of Ukraine strengthens
Labour and wages
Raw materials and inputs
DriverNegative impact: weakens
“This is due to high temperature smelting processes, advanced chemical processes, potential leakages of hazardous substances, and other potential hazards.”
Annual report 2024A · The company itself
DriverNegative impact: weakens
“There are other risks related to the workforce, such as availability of qualified pe sonnel. It can be challenging to find and ttract qualified orkers to some of our locations as they are in rural areas. An aging workforce, in some units, could also lead to Elkem losing valuable knowledge and competence, and it may prove difficu to find qualified eplacements.”
Annual report 2024A · The company itself
DriverPositive impact: strengthens
“Actual Yes Yes Positive High Long OO, VC Elkem plants creates new jobs in underserved communities, both through own operations and among suppliers or supporting sectors.”
Annual report 2024A · The company itself
InputNegative impact: weakens
“Raw material sourcing There are high environmental and social risks associated with the extraction and production of raw materials in Elkem’s value chain. To mitigate these risks, Elkem has implemented a range of measures, including signature of the Business Party Code of Conduct, integrity due diligence for intermediaries and producers, and on-site supplier audits for critical raw material suppliers.”
Annual report 2024A · The company itself
InputNegative impact: weakens
“Elkem has approximately 190 raw material suppliers, and of these approximately 25 per cent are ISO 9001 certifie and 15 per cent are ISO 45001 certified. Critical supplie s without ISO-certific tion are audited annually, and all new raw material suppliers are audited.”
Annual report 2024A · The company itself
StrategyPositive impact: strengthens
“Elkem views its people as its most important asset. Embracing diversity and inclusion strengthens the company’s culture, innovation and customer focus, driving its success.”
Annual report 2024A · The company itself
StrategyPositive impact: strengthens
“Continued implementation of FORUS establishes good systems for ongoing HSE improvement. This could also be an opportunity for Elkem to distinguish itself from its competitors.”
Annual report 2024A · The company itself
EU climate and energy policy
Regulation
DriverPositive impact: strengthens
“In 2024, the key focus areas have been to improve cost and to increase the share of bio-based reduction materials in the smelting process. *Share of group sales from external customers ex.”
Annual report 2024A · The company itself
DriverNegative impact: weakens
“Examples of such conditions are environmental regulations, product related regulations, anti-dumping duties, export taxes, export control, sanctions, and electrical power regulations.”
Annual report 2024A · The company itself
DriverNegative impact: weakens
“Transitional risks Risk type Probability Potential financial impact Time horizon Description Mitigation Regulatory High Medium Short Elkem produces silicon and ferrosilicon in Norway and Iceland, and silicones in France, all under the EU's emission trading system (ETS). Changes in free allowances or higher prices may raise Elkem's direct costs.”
Annual report 2024A · The company itself
DriverPositive impact: strengthens
“Conversely, growing demand for green materials presents opportunities for revenue growth. Elkem projects cost savings through improved energy efficie y and renewable energy reliance, and anticipates increased revenue from low-carbon products, such as EV materials and eco-designed silicones.”
Annual report 2024A · The company itself
StrategyPositive impact: strengthens
“The main strategic priorities are dual-play growth and green leadership. Dual-play growth means driving growth and value creation in all divisions while securing supply chain resilience through geographical diversification. Green leadership means focusing on cutting emissions and resource use to reach climate-neutral production and enabling the green transition through supply of critical materials.”
Annual report 2024A · The company itself
StrategyPositive impact: strengthens
“Elkem seeks to strengthen its position as an industry leader in low CO 2 emissions, support the green transition, and create green ventures.”
Annual report 2024A · The company itself
Chains out: this strengthens Circular economy and recycling, strengthens Energy efficiency
Geopolitical uncertainty
Macro
DriverNegative impact: weakens
“Global GDP growth outlook remains modest, with downside risks in the form of regional conflicts, geopolitical instability and shifts towards protectionist trade policies, threatening supply disruptions.”
Annual report 2024A · The company itself
DriverNegative impact: weakens
“Geopolitical tensions, sanctions and regulatory framework conditions have gained importance over recent years. Elkem operates in various countries and may face trade tensions, sanctions, and changes in regulatory frameworks.”
Annual report 2024A · The company itself
DriverNegative impact: weakens
“Actual Yes Yes Positive High Long OO, VC Human rights violations, and rights of indigentous people, are a potential negative impact through Elkems sourcing, e.g. quartz mining, biocarbon sourcing, hydropower, deforestation, and land and resource use.”
Annual report 2024A · The company itself
InputNegative impact: weakens
“Raw material sourcing There are high environmental and social risks associated with the extraction and production of raw materials in Elkem’s value chain. To mitigate these risks, Elkem has implemented a range of measures, including signature of the Business Party Code of Conduct, integrity due diligence for intermediaries and producers, and on-site supplier audits for critical raw material suppliers.”
Annual report 2024A · The company itself
StrategyPositive impact: strengthens
“Dual-play growth means driving growth and value creation in all divisions while securing supply chain resilience through geographical diversification.”
Annual report 2024A · The company itself
StrategyPositive impact: strengthens
“Customers Elkem is committed to ensuring safe and responsible practices throughout its downstream value chain. This includes adherence to international sanctions and trade controls, and strict regulatory and technical standards across all markets, supported by a robust global compliance framework.”
Annual report 2024A · The company itself
Chains out: this strengthens Defence budgets, strengthens Energy security, strengthens Tariffs and trade policy, weakens Global trade volumes, strengthens Sea freight and freight rates, weakens Reconstruction of Ukraine
Electric vehicles and EV batteries
End markets
DriverPositive impact: strengthens
“Transitional opportunity Opportunity type Products and services Products and services Probability High High Potential financial impact High High Time horizon Short Medium Description The increasing demand for electric vehicles (EVs) and battery cells presents an opportunity for Elkem, as the company supply key components needed for these products. Silicones are used as a non-flammabl insulation for wiring and batteries, and EVs require four times more silicone compared to internal combustion vehicles.”
Annual report 2024A · The company itself
Market
“Elkem has a comprehensive range of silicone products (> 5 000 stock keeping units) with leading market positions in engineering elastomers for EV’s, coatings for packaging, hygiene and bakery paper and airbag coatings.”
Annual report 2024A · The company itself
Market
“Elkem's products, such as silicone solutions for EV battery protection and high-purity ferrosilicon for electrical steel, play a crucial role in enhancing the performance and sustainability of these applications.”
Annual report 2024A · The company itself
Market
“Elkem’s focus on advanced silicon-based materials positions the company to benefit from the growing demand for electric vehicles (EVs), energy storage, and renewable power. Products such as EV battery components, silicone insulation, and low-carbon graphite enable Elkem to contribute to the transition while increasing its market share.”
Annual report 2024A · The company itself
Market
“Elkem helps its customers create and improve essential innovations like electric mobility, digital communications, health and personal care as well as smarter and more sustainable cities.”
Annual report 2024A · The company itself
Tariffs and trade policy
Macro
DriverNegative impact: weakens
“Global GDP growth outlook remains modest, with downside risks in the form of regional conflicts, geopolitical instability and shifts towards protectionist trade policies, threatening supply disruptions.”
Annual report 2024A · The company itself
DriverNegative impact: weakens
“Elkem operates in various countries and may face trade tensions, sanctions, and changes in regulatory frameworks.”
Annual report 2024A · The company itself
DriverNegative impact: weakens
“Examples of such conditions are environmental regulations, product related regulations, anti-dumping duties, export taxes, export control, sanctions, and electrical power regulations.”
Annual report 2024A · The company itself
DriverNegative impact: weakens
“Increasing regulatory requirements for due diligence and transparency may necessitate additional resources to screen, monitor, and manage the relationship with third parties that Elkem interact with, including customers, intermediaries, and suppliers. Elkem must adhere to numerous sanctions and trade regulations, financial crime legisl tion, and laws enacted to protect the human rights of people a ff ected by Elkem’s operations.”
Annual report 2024A · The company itself
StrategyPositive impact: strengthens
“Customers Elkem is committed to ensuring safe and responsible practices throughout its downstream value chain. This includes adherence to international sanctions and trade controls, and strict regulatory and technical standards across all markets, supported by a robust global compliance framework.”
Annual report 2024A · The company itself
Chains in: Geopolitical uncertainty strengthens
Chains out: this weakens Global trade volumes
Water
Raw materials and inputs
DriverNegative impact: weakens
“For our silicone production in France, access to water is identified as a risk due to an increase in dry periods on certain regions of France, and the government has established a directive that enables it to limit the water withdrawal to industry. However, the region where Elkem is located has not yet been a ff ected, though we are closely monitoring the development.”
Annual report 2024A · The company itself
DriverNegative impact: weakens
“Our operations in Brazil also face water access as a key risk, as droughts have increased.”
Annual report 2024A · The company itself
InputNegative impact: weakens
“Per unit of produced silicones by 12 per cent by 2031 from baseline year 2020. Production of silicones accounts for 71 per cent of Elkem’s total water consumption.”
Annual report 2024A · The company itself
StrategyPositive impact: strengthens
“Water consumption, including discharge and withdrawals, is regularly monitored and reported quarterly to corporate. Measurement methods vary based on availability and source, utilising in-line water meters for direct measurement or capacity calculations refle ting operational time.”
Annual report 2024A · The company itself
Consumer spending
Macro
DriverNegative impact: weakens
“There has been an oversupply of silicone capacity in China. These factors have put pressure on sales prices for commodity silicones, silicon and ferrosilicon in all three markets in 2024.”
Annual report 2024A · The company itself
DriverNegative impact: weakens
“Operating income for the Silicon Products division decreased by 13 per cent due to negative price development for silicon and ferrosilicon driven by weaker demand, in addition to lower sales volume. Carbon Solutions’ operating income decreased by 13 per cent, driven by lower prices and lower sales volumes.”
Annual report 2024A · The company itself
StrategyPositive impact: strengthens
“We completed the silicones expansion project in China on time and on budget in May. The plant was ramped up in six months, increasing overall production capacity by 50 per cent, i.e. an additional 120 kmt silox annually.”
Annual report 2024A · The company itself
Chains in: Inflation weakens
Chains out: this strengthens Retail, strengthens Hospitality and leisure, strengthens Premium consumers, strengthens Grocery retail and private label
Circular economy and recycling
Regulation
InputNegative impact: weakens
“Potential Yes No Negative Medium Medium VC Elkem prioritises sourcing certified aw materials, including biocarbon, to support sustainable practices. As an example, 100 per cent of the biocarbon was verified as deforestation-free, contributing to the protection of indigenous peoples and other a ff ected communities.”
Annual report 2024A · The company itself
StrategyPositive impact: strengthens
“In France, our research team at Saint-Fons in Lyon successfully scaled its chemical silicone waste recycling project. Recycling waste is a central tenet of the circular economy, yielding significant advantages such as reduced material consumption and a diminished environmental footprint.”
Annual report 2024A · The company itself
StrategyPositive impact: strengthens
“Focus on climate strategy and circular economy: • In France, Elkem’s research team at Saint-Fons in Lyon successfully scaled a chemical silicone waste recycling project, which could reduce CO 2 emissions from silicone production by around 65 per cent and waste by around 75 per cent.”
Annual report 2024A · The company itself
StrategyPositive impact: strengthens
“The company also focuses on increasing recycling in its operations and with customers, developing eco-designed products, and engaging in new green markets such as battery materials and biomass.”
Annual report 2024A · The company itself
StrategyPositive impact: strengthens
“The shift otwards a circular economy and increased recycling and reuse presents opportunities for Elkem. In silicones production, there is potential to recycle silicones in order to reduce emissions, up to as much as 65 per cent.”
Annual report 2024A · The company itself
StrategyPositive impact: strengthens
“Elkem has developed technology to produce graphite, main component in anodes, with 90 per cent lower GHG emissions than today's standard graphite.”
Annual report 2024A · The company itself
StrategyPositive impact: strengthens
“Our BRIQSIL™ product exemplifies inn vation in material reuse. This ferrosilicon substitute is crafted from fine materials generated during quartz and coal processing. These durable briquettes, designed to withstand handling and transportation, are reintegrated into furnaces, boosting production efficie y while significa tly reducing associated waste.”
Annual report 2024A · The company itself
StrategyPositive impact: strengthens
“Another important initiative is stemming from the DISH programme: A circular economy approach in pallet management that minimises new purchases by reusing and repairing inbound wooden pallets to minimise new purchases. For example, Elkem Nagpur in India, which introduced the initiative, successfully repurposes approximately 6 000 pallets annually, showcasing a strong commitment to sustainability and resource efficie y.”
Annual report 2024A · The company itself
StrategyPositive impact: strengthens
“One key initiative is the REPOS project (Resourcing Polymers from Silicones). This collaborative innovation project aims to develop new processes economically and industrially viable for the chemical recycling of silicone polymers. Initially targeting our waste streams, it has the potential to reduce 65 per cent of the waste.”
Annual report 2024A · The company itself
StrategyPositive impact: strengthens
“One of the biggest milestones in 2024, was the successful scaling of our chemical silicone waste upcycling project from a laboratory to a pilot unit at our Saint-Fons production site in Lyon, France. This will enable high conversion rates, chemical selectivity, and lower carbon emissions due to low process temperatures.”
Annual report 2024A · The company itself
StrategyPositive impact: strengthens
“Reducing raw material extraction is a central focus for Elkem, as the company seeks to minimise its impact on high-risk sectors. By prioritising circular solutions, Elkem aims to reduce dependency on primary resources and address potential risks to workers’ well-being associated with mining activities.”
Annual report 2024A · The company itself
StrategyPositive impact: strengthens
“Hazardous waste to landfill: eduction of 10 per cent → Waste to disposal: Reduction of 10 per cent → Waste recycled: Increase by 10 per cent In 2024, we reduced the amount of hazardous waste to landfill y 58 per cent year over year, a slight increase in waste to disposal, but Elkem managed to increased the amount of recycled waste by 114 per cent from the prior year.”
Annual report 2024A · The company itself
Chains in: EU climate and energy policy strengthens
Electrification
Technology
DriverPositive impact: strengthens
“The main growth drivers are the green transition and the rise of middle class worldwide to serve markets such as electrification of transportation, electronics, and healthcare.”
Annual report 2024A · The company itself
DriverNegative impact: weakens
“Develop good relationships with reliable suppliers Market Medium High Medium Electrific tion of our society may lead to an increase in demand and thus result in increased power prices. This may a ff ect all Elkem’s locations.”
Annual report 2024A · The company itself
StrategyPositive impact: strengthens
“The main strategic priorities are dual-play growth and green leadership. Dual-play growth means driving growth and value creation in all divisions while securing supply chain resilience through geographical diversification. Green leadership means focusing on cutting emissions and resource use to reach climate-neutral production and enabling the green transition through supply of critical materials.”
Annual report 2024A · The company itself
Market
“Ferrosilicon is used in steel industry, with Elkem’s specialty grades primarily employed in the production of electrical steel for motors and power network components, supporting the electrification.”
Annual report 2024A · The company itself
Market
“The company develops silicones, silicon products and carbon solutions by combining natural raw materials, renewable energy, and human ingenuity. Elkem helps its customers create and improve essential innovations like electric mobility, digital communications, health, and personal care as well as smarter and more sustainable cities.”
Annual report 2024A · The company itself
Market
“Elkem's products, such as silicone solutions for EV battery protection and high-purity ferrosilicon for electrical steel, play a crucial role in enhancing the performance and sustainability of these applications.”
Annual report 2024A · The company itself
Market
“Products and services Technology High Medium Medium Low Short Long Increased demand for renewable power, power storage, electrific tion and improvement of electrical infrastructure presents an opportunity for Elkem to expand in these sectors.”
Annual report 2024A · The company itself
Market
“The new centre was inaugurated in 2024 following a comprehensive upgrade of the centre’s research system and hardware, and the establishment of four application centers for E-mobility, bioscience, coating and 3D printing, to develop high-performance products and promote the innovative development of the industry. The centre supports customers in the Asia-Pacific region improve their innovation capabilities, accelerate the development of new products and applications and seize emerging opportunities for advanced silicone products and technology in the region.”
Annual report 2024A · The company itself
Market
“Specialisation and customisation: Elkem develops customised products tailored to the needs of various industries, including renewable energy, electronics, automotive, and construction.”
Annual report 2024A · The company itself
Chains out: this strengthens Electricity, strengthens Power grid expansion, strengthens Copper
Steel
Raw materials and inputs
InputNegative impact: weakens
“The objective is to maintain Elkem as a competitive producer through strong operational performance, economies of scale, and an integrated value chain from raw materials to advanced end products.”
Annual report 2024A · The company itself
Market
“Silicon Products A leading producer of siliconbased materials, including silicon, ferrosilicon, specialty alloys based on ferrosilicon and Microsilica.”
Annual report 2024A · The company itself
Market
“Carbon Solutions A leading producer of speciality carbon products for various metallurgical smelting processes and primary aluminium industries.”
Annual report 2024A · The company itself
Market
“Ferrosilicon is used in steel industry, with Elkem’s specialty grades primarily employed in the production of electrical steel for motors and power network components, supporting the electrification.”
Annual report 2024A · The company itself
Market
“The technology and carbon products are used by producers of silicon, ferrosilicon, ferrochromium, ferronickel, ferromanganese, silicomanganese, calcium carbide and copper and platinum matte.”
Annual report 2024A · The company itself
Market
“Business model and value chain Elkem's business model and value chain focus on producing advanced silicon-based materials, and are cantered on the production and supply of advanced silicon-based materials, leveraging an integrated value chain to ensure quality and sustainability. The company operates across the entire value chain, from raw material extraction to the production of specialised products. Here are the key components: 1. Raw material sourcing : Elkem sources high-quality raw materials such as quartz, coal, and wood, which are essential for producing silicon and its derivatives.”
Annual report 2024A · The company itself
Market
“Carbon products are used in electric arc furnaces and by the aluminium and iron foundries industries.”
Annual report 2024A · The company itself
Chains in: Wind power strengthens
Wood and timber
Raw materials and inputs
InputNegative impact: weakens
“Raw material sourcing : Elkem sources high-quality raw materials such as quartz, coal, and wood, which are essential for producing silicon and its derivatives.”
Annual report 2024A · The company itself
InputNegative impact: weakens
“Market Medium Medium Medium Elkem faces the potential risk of increased cost of lower emitting raw materials, such as certified biocarbon, l wer emitting coal and iron, due to increased demand (i.e. biocarbon) and increased competition among companies compete for the same resources.”
Annual report 2024A · The company itself
InputNegative impact: weakens
“Elkem has increased its use of biocarbon as a reduction agent in the silicon production to 24 per cent.”
Annual report 2024A · The company itself
InputNegative impact: weakens
“Elkem sources materials such as wood, wood waste, and other biocarbon (e.g. charcoal) for use as chemical components in the production of silicon and silicon alloys.”
Annual report 2024A · The company itself
InputNegative impact: weakens
“Potential Yes No Negative Medium Medium VC Elkem prioritises sourcing certified aw materials, including biocarbon, to support sustainable practices. As an example, 100 per cent of the biocarbon was verified as deforestation-free, contributing to the protection of indigenous peoples and other a ff ected communities.”
Annual report 2024A · The company itself
StrategyPositive impact: strengthens
“To achieve this, Elkem is developing a new industrial process for biobased materials, specificall tailor-made for silicon and ferrosilicon production processes.”
Annual report 2024A · The company itself
StrategyPositive impact: strengthens
“Biocarbon We are dedicated to exploring the integration of biobased materials into our production processes, which can reduce the dependence on fini e raw materials.”
Annual report 2024A · The company itself
Digitalisation
Technology
StrategyPositive impact: strengthens
“We know that the value chain can always be improved. We do this through experimenting, using new technology and looking for ways to eliminate waste.”
Annual report 2024A · The company itself
StrategyPositive impact: strengthens
“To achieve its strategic goals, Elkem will concentrate on operational excellence, digitalisation, people development, and ESG.”
Annual report 2024A · The company itself
StrategyPositive impact: strengthens
“Innovation and R&D: Elkem invests significa tly in research and development to drive innovation. This focus on R&D helps the company develop new products, improve existing ones, and enhance production processes, ensuring they remain at the forefront of technological advancements.”
Annual report 2024A · The company itself
StrategyPositive impact: strengthens
“During 2024, Elkem has implemented a SRM system. This global platform strengthens the company’s ability to identify human rights risks, prioritise areas of high impact, and conduct systematic, risk-based supplier qualific tion and follow-up.”
Annual report 2024A · The company itself
Market
“Silicon is used in silicones, aluminium alloys and polysilicon, and has a number of favourable chemical and physical properties, including semi-conductivity, making it highly versatile for numerous industrial and electronic applications.”
Annual report 2024A · The company itself
Market
“The company develops silicones, silicon products and carbon solutions by combining natural raw materials, renewable energy, and human ingenuity. Elkem helps its customers create and improve essential innovations like electric mobility, digital communications, health, and personal care as well as smarter and more sustainable cities.”
Annual report 2024A · The company itself
Chains in: Cybersecurity (products and services) strengthens, Public investment and infrastructure strengthens
Chains out: this strengthens IT consulting and public-sector IT
Aluminium
Raw materials and inputs
InputNegative impact: weakens
“The objective is to maintain Elkem as a competitive producer through strong operational performance, economies of scale, and an integrated value chain from raw materials to advanced end products.”
Annual report 2024A · The company itself
Market
“Carbon Solutions A leading producer of speciality carbon products for various metallurgical smelting processes and primary aluminium industries.”
Annual report 2024A · The company itself
Market
“The technology and carbon products are used by producers of silicon, ferrosilicon, ferrochromium, ferronickel, ferromanganese, silicomanganese, calcium carbide and copper and platinum matte.”
Annual report 2024A · The company itself
Market
“Carbon products are used in electric arc furnaces and by the aluminium and iron foundries industries.”
Annual report 2024A · The company itself
Batteries and energy storage
Technology
Market
“Elkem's products, such as silicone solutions for EV battery protection and high-purity ferrosilicon for electrical steel, play a crucial role in enhancing the performance and sustainability of these applications.”
Annual report 2024A · The company itself
Market
“The increasing demand for low-carbon technologies like solar panels and batteries is expected to drive growth in Elkem's product segments.”
Annual report 2024A · The company itself
Market
“Elkem’s focus on advanced silicon-based materials positions the company to benefit from the growing demand for electric vehicles (EVs), energy storage, and renewable power. Products such as EV battery components, silicone insulation, and low-carbon graphite enable Elkem to contribute to the transition while increasing its market share.”
Annual report 2024A · The company itself
Market
“Elkem has developed technology to produce graphite, main component in anodes, with 90 per cent lower GHG emissions than today's standard graphite. This has led to the establishment of Vianode.”
Annual report 2024A · The company itself
Energy efficiency
Technology
StrategyPositive impact: strengthens
“Innovation at our core Research and innovation are at the core of Elkem’s DNA, with 3.2 per cent of 2024 revenues dedicated to new products and new processes, including technical support to customers.”
Annual report 2024A · The company itself
StrategyPositive impact: strengthens
“The division’s key strategic focus is to improve profitability and value creation through continuous cost improvement and accelerated product specialisation.”
Annual report 2024A · The company itself
StrategyPositive impact: strengthens
“The project entails capturing the carbon emitted from the silicon furnace and reusing it as a reductant in the silicon production process.”
Annual report 2024A · The company itself
Market
“Silicon is used in silicones, aluminium alloys and polysilicon, and has a number of favourable chemical and physical properties, including semi-conductivity, making it highly versatile for numerous industrial and electronic applications.”
Annual report 2024A · The company itself
Chains in: Carbon tax and ETS prices strengthens, EU climate and energy policy strengthens
Plastics and polymers
Raw materials and inputs
StrategyPositive impact: strengthens
“The silicones expansion in France is expected to be ramped up during the first quarter of 2025. The upgraded facilities will provide a 25 per cent capacity increase resulting in 20 kmt silox capacity annually.”
Annual report 2024A · The company itself
Market
“Silicones A fully integrated producer from silicon metal to upstream siloxanes and downstream silicone specialities.”
Annual report 2024A · The company itself
Market
“Elkem is one of the world’s leading providers of advanced material solutions shaping a better and more sustainable future. The company develops silicones, silicon products and carbon solutions by combining natural raw materials, renewable energy and human ingenuity. Elkem helps its customers create and improve essential innovations like electric mobility, digital communications, health and personal care as well as smarter and more sustainable cities.”
Annual report 2024A · The company itself
Market
“On 23 January 2025 the group announced its intention to perform a strategic review of the Silicones business area, and it initiated an active programme to locate a buyer for the Elkem Silicones operating segment. At the end of the fourth quarter it was assessed that Elkem Silicones meets the criteria for held for sale.”
Annual report 2024A · The company itself
Chains in: Oil strengthens
Semiconductors and electronic components
Raw materials and inputs
Market
“Silicon Products A leading producer of siliconbased materials, including silicon, ferrosilicon, specialty alloys based on ferrosilicon and Microsilica.”
Annual report 2024A · The company itself
Market
“Silicon is used in silicones, aluminium alloys and polysilicon, and has a number of favourable chemical and physical properties, including semi-conductivity, making it highly versatile for numerous industrial and electronic applications.”
Annual report 2024A · The company itself
Market
“Business model and value chain Elkem's business model and value chain focus on producing advanced silicon-based materials, and are cantered on the production and supply of advanced silicon-based materials, leveraging an integrated value chain to ensure quality and sustainability. The company operates across the entire value chain, from raw material extraction to the production of specialised products. Here are the key components: 1. Raw material sourcing : Elkem sources high-quality raw materials such as quartz, coal, and wood, which are essential for producing silicon and its derivatives.”
Annual report 2024A · The company itself
Market
“Elkem is one of the world’s leading providers of advanced material solutions shaping a better and more sustainable future. The company develops silicones, silicon products and carbon solutions by combining natural raw materials, renewable energy and human ingenuity. Elkem helps its customers create and improve essential innovations like electric mobility, digital communications, health and personal care as well as smarter and more sustainable cities.”
Annual report 2024A · The company itself
Chains in: Artificial intelligence strengthens
Cement and building materials
Raw materials and inputs
Market
“3.6 Manufacture of other low carbon technologies Substantial contribution to Climate change mitigation: Elkem’s Microsilica improves concrete performance, making it more durable, increasing the service life and reducing maintenance costs. It also contributes to reducing the carbon footprint for a concrete mix.”
Annual report 2024A · The company itself
Market
“We already supply products based on circular economy principles, such as Microsilica, which is used in major construction projects.”
Annual report 2024A · The company itself
Market
“Silica fume, also known as Microsilica, is a byproduct of the carbothermic reduction of high purity quartz in electric arc furnaces. Originally a residual product emitted into the air until the 1980s, Elkem transformed this by-product into a range of valuable materials, contributing to the construction of iconic structures such as some of the world’s tallest buildings and longest bridges.”
Annual report 2024A · The company itself
Chains in: Carbon tax and ETS prices weakens, Reconstruction of Ukraine strengthens
Denmark
Geography
StrategyPositive impact: strengthens
“Most of Elkem’s silicon production is located in industrial clusters in Norway, which are suitable for installation of CCS facilities.”
Annual report 2024A · The company itself
Geography
“Elkem acquired assets of REC Solar Norway AS from REC Solar Holdings AS, a subsidiary of Reliance Industries. The acquisition secures control of industrial areas and facilities in Kristiansand and at Herøya, enabling the realisation of local synergies and providing access to attractive facilities for testing and optimisation of products and green production processes.”
Annual report 2024A · The company itself
Geography
“In 2024, Elkem had a total operating income of NOK 33 004 million.”
Annual report 2024A · The company itself
Media and entertainment
End markets
Market
“Elkem helps its customers create and improve essential innovations like electric mobility, digital communications, health, and personal care as well as smarter and more sustainable cities.”
Annual report 2024A · The company itself
Market
“Additive manufacturing, commonly known as 3D printing, has gained traction across various industries due to its ability to produce complex and customised products more efficiently than traditional manufacturing methods.”
Annual report 2024A · The company itself
Market
“Elkem helps its customers create and improve essential innovations like electric mobility, digital communications, health and personal care as well as smarter and more sustainable cities.”
Annual report 2024A · The company itself
Solar power
Technology
DriverPositive impact: strengthens
“Elkem is well-positioned to meet these challenges, thanks to its high proportion of renewable energy and targeted climate ambitions. functions.”
Annual report 2024A · The company itself
Market
“The increasing demand for low-carbon technologies like solar panels and batteries is expected to drive growth in Elkem's product segments.”
Annual report 2024A · The company itself
Market
“Products and services Technology High Medium Medium Low Short Long Increased demand for renewable power, power storage, electrific tion and improvement of electrical infrastructure presents an opportunity for Elkem to expand in these sectors.”
Annual report 2024A · The company itself
Artificial intelligence
Technology
StrategyPositive impact: strengthens
“Research and Innovation is key to Elkem’s strategy on sustainable growth and specialisation Elkem devotes considerable effort and resources to R&I activities, with 3.2 per cent of 2024 revenues dedicated to new products and new processes, including technical support to customers. Through this investment, and with more than 550 researchers working globally across 14 R&I and application centres, the R&I teams filed 68 patents across the world in 2024.”
Annual report 2024A · The company itself
StrategyPositive impact: strengthens
“Innovation and R&D: Elkem invests significa tly in research and development to drive innovation. This focus on R&D helps the company develop new products, improve existing ones, and enhance production processes, ensuring they remain at the forefront of technological advancements.”
Annual report 2024A · The company itself
Chains out: this strengthens Data centres, strengthens Semiconductors and electronic components, strengthens Semiconductor industry
Automation and robotics
Technology
StrategyPositive impact: strengthens
“We know that the value chain can always be improved. We do this through experimenting, using new technology and looking for ways to eliminate waste.”
Annual report 2024A · The company itself
StrategyPositive impact: strengthens
“Focus on 3D printing and new materials: • Elkem expanded its portfolio of silicone solutions within the new AMSil™ 20 503 and AMSil™ Silbione™ 24 503 ranges for additive manufacturing. Additive manufacturing, commonly known as 3D printing, has gained traction across various industries due to its ability to produce complex and customised products more efficiently than traditional manufacturing methods.”
Annual report 2024A · The company itself
Chemicals and specialty chemicals
Raw materials and inputs
DriverNegative impact: weakens
“Elkem ensures compliance with various chemical product regulations, covering registrations, authorisations, safety data sheets, and labels. Elkem globally complies with regulatory requirements, providing safety data sheets (SDS) following the UN Globally Harmonised System of classific tion and labelling of chemicals.”
Annual report 2024A · The company itself
StrategyPositive impact: strengthens
“The consortium will receive EUR 14.5 million from the EU’s research and innovation programme to demonstrate the applicability of the SSbD (Safe and Sustainable by Design) Draft Framework published by the JRC 5Joint Research Centres), while developing technical alternatives for three of the most important classes of molecules in chemical industries: plasticisers, flame retardants and surfactants.”
Annual report 2024A · The company itself
ESG and sustainability reporting
Regulation
DriverNegative impact: weakens
“Regulatory Low Low Short More regulatory requirements and directives may follow, which can result in increased operational costs to monitor and meet requirements.”
Annual report 2024A · The company itself
StrategyPositive impact: strengthens
“To achieve its strategic goals, Elkem will concentrate on operational excellence, digitalisation, people development, and ESG.”
Annual report 2024A · The company itself
Healthcare and hospitals
End markets
Market
“The Silicones division serves diverse markets, from electric cars to construction, via electronics, aerospace, healthcare, personal care, packaging, airbag coating and more.”
Annual report 2024A · The company itself
Market
“Safety Data Sheets (SDS), aligned with the UN Globally Harmonised System, serve as essential tools for hazard communication, ensuring safe product handling by customers and employees. Products in sensitive applications, such as food, water, and healthcare, are subject to specific indu try regulations.”
Annual report 2024A · The company itself
Chains in: Ageing population strengthens, GLP-1 and obesity treatment mixed effect
Industrial manufacturing
End markets
Market
“Elkem is one of the world’s leading providers of advanced material solutions shaping a better and more sustainable future. The company develops silicones, silicon products and carbon solutions by combining natural raw materials, renewable energy and human ingenuity. Elkem helps its customers create and improve essential innovations like electric mobility, digital communications, health and personal care as well as smarter and more sustainable cities.”
Annual report 2024A · The company itself
Market
“Focus on 3D printing and new materials: • Elkem expanded its portfolio of silicone solutions within the new AMSil™ 20 503 and AMSil™ Silbione™ 24 503 ranges for additive manufacturing. Additive manufacturing, commonly known as 3D printing, has gained traction across various industries due to its ability to produce complex and customised products more efficiently than traditional manufacturing methods.”
Annual report 2024A · The company itself
M&A and consolidation
Macro
StrategyPositive impact: strengthens
“Elkem has low-cost positions driven by scale and operational excellence, as well as strong market positions in specialty niches based on deep application knowledge and close customer relationships. The division’s strategy is to strengthen its leading cost positions and pursue selected organic growth initiatives and opportunities for bolt-on acquisitions.”
Annual report 2024A · The company itself
StrategyPositive impact: strengthens
“In 2024, the Carbon Solutions division has focused on the integration of Elkem Carbon Slovakia (former VUM), which was acquired in 2023, and a project in Brazil to expand its capacity for high-quality products.”
Annual report 2024A · The company itself
Nordics
Geography
StrategyPositive impact: strengthens
“Most of Elkem’s silicon production is located in industrial clusters in Norway, which are suitable for installation of CCS facilities.”
Annual report 2024A · The company itself
Geography
“Silicon Products has about 2 100 FTEs and has plants in Norway, Iceland, Canada, India, Paraguay and China, and quartz mines in Norway and Spain.”
Annual report 2024A · The company itself
Wind power
Technology
DriverPositive impact: strengthens
“Elkem is well-positioned to meet these challenges, thanks to its high proportion of renewable energy and targeted climate ambitions. functions.”
Annual report 2024A · The company itself
Market
“Products and services Technology High Medium Medium Low Short Long Increased demand for renewable power, power storage, electrific tion and improvement of electrical infrastructure presents an opportunity for Elkem to expand in these sectors.”
Annual report 2024A · The company itself
Chains in: Interest rates weakens, Energy security strengthens
Chains out: this strengthens Steel, strengthens Rare earths and critical raw materials, strengthens Renewables auctions and subsidies, strengthens Power grid expansion
Air freight
Raw materials and inputs
StrategyPositive impact: strengthens
“Elkem will invest NOK 60 million to improve cleaning of SO 2 at Elkem Ferroveld.”
Annual report 2024A · The company itself
Consumer preference shifts
End markets
Market
“Elkem helps its customers create and improve essential innovations like electric mobility, digital communications, health, and personal care as well as smarter and more sustainable cities.”
Annual report 2024A · The company itself
Chains out: this mixed effect Beer and beverages
Packaging
Raw materials and inputs
Market
“Elkem has a comprehensive range of silicone products (> 5 000 stock keeping units) with leading market positions in engineering elastomers for EV’s, coatings for packaging, hygiene and bakery paper and airbag coatings.”
Annual report 2024A · The company itself
Chains out: this weakens Beer and beverages
Packaging regulation and deposit schemes
Regulation
StrategyPositive impact: strengthens
“In alignment with the EU’s Packaging Directive, Elkem has introduced new projects to reduce packaging waste. Elkem is adopting big bags with at least 30 per cent recycled polypropylene (rPP), reducing their carbon footprint by approximately 15 per cent annually.”
Annual report 2024A · The company itself
Retail
End markets
Market
“Safety Data Sheets (SDS), aligned with the UN Globally Harmonised System, serve as essential tools for hazard communication, ensuring safe product handling by customers and employees. Products in sensitive applications, such as food, water, and healthcare, are subject to specific indu try regulations.”
Annual report 2024A · The company itself
Chains in: Consumer spending strengthens
Shipping and logistics
End markets
StrategyPositive impact: strengthens
“The business model focuses on supply chain resilience through geographical diversification, minimising reliance on shipping intermediate products or finished goods across regions.”
Annual report 2024A · The company itself
Chains in: Carbon tax and ETS prices weakens, Global trade volumes strengthens, Fuel strengthens
Telecoms and 5G
Technology
Market
“Elkem helps its customers create and improve essential innovations like electric mobility, digital communications, health, and personal care as well as smarter and more sustainable cities.”
Annual report 2024A · The company itself
Utilities
End markets
Market
“Business model and value chain Elkem's business model and value chain focus on producing advanced silicon-based materials, and are cantered on the production and supply of advanced silicon-based materials, leveraging an integrated value chain to ensure quality and sustainability. The company operates across the entire value chain, from raw material extraction to the production of specialised products. Here are the key components: 1. Raw material sourcing : Elkem sources high-quality raw materials such as quartz, coal, and wood, which are essential for producing silicon and its derivatives.”
Annual report 2024A · The company itself
Electricity
Raw materials and inputs
DriverNegative impact: weakens
“In addition, high power prices in Europe have affected several of Elkem’s end-markets.”
Annual report 2024A · The company itself
InputNegative impact: weakens
“Elkem also signed new long-term power contracts in Norway, securing our future cost position and predictability of supply. Elkem is well-positioned with long-term power contracts in Norway with around 75 per cent of its electricity consumption secured until end of 2029.”
Annual report 2024A · The company itself
InputNegative impact: weakens
“Develop good relationships with reliable suppliers Market Medium High Medium Electrific tion of our society may lead to an increase in demand and thus result in increased power prices. This may a ff ect all Elkem’s locations.”
Annual report 2024A · The company itself
InputNegative impact: weakens
“concrete, steel, aluminium) Actual Yes Yes Negative High Short VC Production of silicon is mainly based in regions (Norway, Iceland, Paraguay) where renewable energy is abundant Actual Yes Yes Positive High Short VC Silicon and silicone products are enablers for the green transition and help reduce emissions through other technologies and products (e.g. EV production, more sustainable construction, renewable power construction and infrastructure) Actual Yes Yes Positive High Short VC Energy Prodcution of silicon and silicone powder is energy intensive Actual Yes Yes Negative High Short OO The use of silicones, siloxanes and silanes generates energy savings and reductions in greenhouse gas emissions that exceed the impacts of production and end-of-life disposal.”
Annual report 2024A · The company itself
InputNegative impact: weakens
“The company develops silicones, silicon products and carbon solutions by combining natural raw materials, renewable energy and human ingenuity.”
Annual report 2024A · The company itself
Chains in: Data centres strengthens, Electrification strengthens
Chains out: this strengthens Power grid expansion
Interest rates
Macro
DriverNegative impact: weakens
“The challenging conditions of 2023 persisted throughout 2024, with weak growth, high inflation, and high interest rates.”
Annual report 2024A · The company itself
DriverNegative impact: weakens
“This rating was downgraded in 2024 due to a slower-than-anticipated recovery in credit metrics amidst ongoing market challenges.”
Annual report 2024A · The company itself
Chains in: Public debt and fiscal policy strengthens, Inflation strengthens
Chains out: this weakens Construction, weakens Real estate, weakens Wind power, weakens Housing market, weakens Office and commercial property, weakens Residential rental, weakens Residential construction
Coal and coke
Raw materials and inputs
InputNegative impact: weakens
“Raw material sourcing : Elkem sources high-quality raw materials such as quartz, coal, and wood, which are essential for producing silicon and its derivatives.”
Annual report 2024A · The company itself
Global trade volumes
Macro
DriverNegative impact: weakens
“Elkem experienced weak demand in all regions and markets combined with an oversupply situation of siloxane in China.”
Annual report 2024A · The company itself
Chains in: Tariffs and trade policy weakens, Geopolitical uncertainty weakens, Business cycle and GDP growth strengthens
Chains out: this strengthens Shipping and logistics
Inflation
Macro
DriverNegative impact: weakens
“The challenging conditions of 2023 persisted throughout 2024, with weak growth, high inflation, and high interest rates.”
Annual report 2024A · The company itself
Chains out: this weakens Consumer spending, strengthens Interest rates
China
Geography
DriverNegative impact: weakens
“The air pollution from the mines may impact the drinking water, the air quality etc. and impact the biodiversity in the area. The mines are shown to damage crops.”
Annual report 2024A · The company itself
Geography
“China has been the largest growth market for silicon in recent years, however the material is critical for the green transition in Europe and the United States.”
Annual report 2024A · The company itself
Geography
“The Silicones division saw a 7 per cent increase in operating income driven by higher sales volumes countered partially by weaker sales prices in particular in China.”
Annual report 2024A · The company itself
Climate change and extreme weather
Macro
DriverNegative impact: weakens
“For our silicone production in France, access to water is identified as a risk due to an increase in dry periods on certain regions of France, and the government has established a directive that enables it to limit the water withdrawal to industry. However, the region where Elkem is located has not yet been a ff ected, though we are closely monitoring the development.”
Annual report 2024A · The company itself
DriverNegative impact: weakens
“Our operations in Brazil also face water access as a key risk, as droughts have increased.”
Annual report 2024A · The company itself
Chains out: this weakens Agriculture and food production
Public sector
End markets
DriverPositive impact: strengthens
“Actual Yes Yes Positive High Long OO, VC Elkem plants creates new jobs in underserved communities, both through own operations and among suppliers or supporting sectors.”
Annual report 2024A · The company itself
DriverPositive impact: strengthens
“Actual Yes Yes Positive High Short OO, VC Elkem sites represent significa t tax contribution to underserved communities where Elkem is present, thus positively contributing to local communities.”
Annual report 2024A · The company itself
Ageing population
Geography
DriverPositive impact: strengthens
“The main growth drivers are the green transition and the rise of middle class worldwide to serve markets such as electrification of transportation, electronics, and healthcare.”
Annual report 2024A · The company itself
Chains out: this strengthens Healthcare and hospitals, strengthens Medical devices, strengthens Hearing aids and hearing care
Currency exposure
Macro
DriverNegative impact: weakens
“Elkem’s result, cash flow and equity are exposed to fluctuations in currency exchange rates, and Elkem seeks to reduce the impact from changes in currency exchange rates by a pre-defined cash flow hedging programme.”
Annual report 2024A · The company itself
Growing middle class
Geography
DriverPositive impact: strengthens
“The main growth drivers are the green transition and the rise of middle class worldwide to serve markets such as electrification of transportation, electronics, and healthcare.”
Annual report 2024A · The company itself
Inventories
Macro
InputNegative impact: weakens
“Changes in working capital were negative YoY primarily due to an increase in inventories. This rise in inventories was a result of the production strategy.”
Annual report 2024A · The company itself
Labour regulation
Regulation
DriverNegative impact: weakens
“Increasing regulatory requirements for due diligence and transparency may necessitate additional resources to screen, monitor, and manage the relationship with third parties that Elkem interact with, including customers, intermediaries, and suppliers. Elkem must adhere to numerous sanctions and trade regulations, financial crime legisl tion, and laws enacted to protect the human rights of people a ff ected by Elkem’s operations.”
Annual report 2024A · The company itself
Natural gas
Raw materials and inputs
InputNegative impact: weakens
“The company develops silicones, silicon products and carbon solutions by combining natural raw materials, renewable energy and human ingenuity.”
Annual report 2024A · The company itself
Asia and emerging markets
Geography
Geography
“The division has R&I centres in Europe and Asia, sales offices worldwide, and plants in China, France, Italy, Spain, USA, Brazil, India, and South Korea.”
Annual report 2024A · The company itself
Geography
“Silicon Products has about 2 100 FTEs and has plants in Norway, Iceland, Canada, India, Paraguay and China, and quartz mines in Norway and Spain.”
Annual report 2024A · The company itself
Geography
“The division has approximately 400 FTEs, with plants in Norway, South Africa, Brazil, Malaysia, Slovakia and China.”
Annual report 2024A · The company itself
Europe
Geography
Geography
“The division has R&I centres in Europe and Asia, sales offices worldwide, and plants in China, France, Italy, Spain, USA, Brazil, India, and South Korea.”
Annual report 2024A · The company itself
Geography
“The division has approximately 400 FTEs, with plants in Norway, South Africa, Brazil, Malaysia, Slovakia and China.”
Annual report 2024A · The company itself
Latin America
Geography
Geography
“Silicon Products has about 2 100 FTEs and has plants in Norway, Iceland, Canada, India, Paraguay and China, and quartz mines in Norway and Spain.”
Annual report 2024A · The company itself
Geography
“The division has approximately 400 FTEs, with plants in Norway, South Africa, Brazil, Malaysia, Slovakia and China.”
Annual report 2024A · The company itself
Building codes and fire safety
Regulation
DriverNegative impact: weakens
“Processes have also been initiated to improve fire safety at Elkem’s plants.”
Annual report 2024A · The company itself
Competitors mentioned in the report
No named competitors in the report.
Financial figures
| Revenue latest fiscal year | 17.81 bn NOK |
| Revenue growth vs. the year before, same method | -15.7 % |
| EBITDA reported by the company | 3.03 bn NOK |
| Net debt debt incl. leasing minus cash | N/A |
| Diluted EPS per share | 0.77 NOK |
Source: annual report (ESEF) A. See the report
Criteria
| Profit | ✓ |
| Growing | ✗ |
| Healthy balance sheet | N/A |
Only the criteria that can be computed from financial statements on this page. The remaining criteria (such as price and dividend) need a share price and are in the analysis.
Figures are in the report's currency (NOK), not converted to DKK. Quotes are shown as the company's own words in the report's original language.