Elkem is cashing in on the booming silicones market. The company now expects that its second-quarter financial results will “exceed” the results from the first quarter.
The company also said the four-week maintenance stop at its Xinghuo Silicones in China was postponed for one month until July 15 through Aug. 15 and therefore the shutdown won’t affect its second-quarter results.
In the first quarter of 2018, Elkem’s total operating income was NOK6,447-million, which was 41% higher than the first quarter of 2017. EBITDA for first quarter 2018 amounts to NOK1,450-million, up from NOK441-million in the corresponding quarter last year.
Elkem went public earlier this year.