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Ferroglobe (GSM) investor relations material

Ferroglobe 16th Annual Midwest Ideas Conference summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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16th Annual Midwest Ideas Conference summary27 Aug, 2025

Company overview and market position

  • Major global producer of silicon metal, ferrosilicon, and manganese alloys with $1.6B in sales and 3,300 employees.

  • Vertically integrated in quartz mining, with significant operations in North America and Europe.

  • Main end markets include solar, EV batteries, automotive, construction, and energy.

  • Largest producer of silicon metal in Europe and the U.S., with a diversified global customer base.

  • Revenue mix: ~50% silicon metal, ~25% silicon-based alloys, ~25% manganese alloys.

Financial performance and capital management

  • Deleveraged from $550M debt in 2021 to ~$100M, achieving a net cash position.

  • Initiated and increased dividends, with a modest payout and ongoing share buybacks.

  • Strong free cash flow in 2022 due to COVID-related supply constraints; 2023 more challenging.

  • Ongoing focus on working capital reduction, targeting $100M reduction, with $70M achieved.

  • Maintenance CapEx of $50M–$60M annually, with flexibility as needed.

Market challenges and trade dynamics

  • Silicon metal prices in Europe down ~30% in six months due to Chinese dumping.

  • Trade measures in the EU and U.S. (duties, safeguards) are expected to support domestic producers.

  • EU safeguard decision expected by November 20, aiming to restore internal market share from 15% to 40%.

  • U.S. countervailing and antidumping decisions on silicon metal expected in September and later.

  • Chinese circumvention via Angola and overproduction are ongoing concerns.

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Frequently asked questions

Ferroglobe PLC is a leading global producer of silicon metal and silicon-based and manganese-based alloys. These advanced metallurgical products are essential for a wide range of consumer and industrial applications, contributing to the sustainable advancement of society. The company holds the position of being the largest merchant producer of silicon metal in the Western World. Its product line includes a variety of ferroalloys and specialty metals, which support industries ranging from automotive and construction to electronics and renewable energy. Ferroglobe operates globally, with a significant presence in the United States, Europe, and other international markets. The company is headquartered in London, United Kingdom, and its shares are listed on the NASDAQ.

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