In This Story
GrafTech International Ltd. (EAF+21.57%) has submitted its Form 10-K filing for the fiscal year ended December 31, 2024.
The filing reports a net sales decrease to $538.8 million from $620.5 million in 2023, primarily due to lower realized prices for non-LTA graphite electrodes and a shift in sales mix.
Cost of goods sold decreased by 7% to $533.8 million, with a $19.7 million favorable impact from lower of cost or market inventory valuation adjustments.
The company recorded a net loss of $131.2 million, compared to a net loss of $255.3 million in the prior year, reflecting a goodwill impairment charge of $171.1 million in 2023.
Interest expense increased by 47% to $85.3 million, driven by debt modification costs related to financing transactions completed in 2024.
GrafTech's liquidity as of December 31, 2024, was $464.2 million, with $108.0 million available under its revolving credit facility and $256.2 million in cash and cash equivalents.
The company reported a total debt of approximately $1.1 billion as of December 31, 2024, following a series of financing transactions to extend debt maturities.
GrafTech's production capacity was reduced from approximately 202 thousand MT in 2023 to approximately 178 thousand MT in 2024 due to a cost rationalization and footprint optimization plan.
The filing details various legal proceedings, including a class action lawsuit and tax disputes in Mexico and Brazil, which the company is actively contesting.
GrafTech continues to focus on optimizing its cost structure and expects a mid-single digit percentage decline in cash cost of goods sold per MT for 2025.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the GrafTech International Ltd. annual 10-K report dated February 14, 2025. To report an error, please email earnings@qz.com.