$GSM

Ferroglobe PLC

CIK:0001639877|SEC Filings

CONSOLIDATED INCOME STATEMENTS - USD ($) $ in Thousands	12 Months Ended
CONSOLIDATED INCOME STATEMENTS - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Profit (loss) [abstract]
Sales	$ 1,335,121	$ 1,643,939	$ 1,650,034
Raw materials and energy consumption for production1	(933,531)	(1,027,130)	(879,286)
Other operating income	82,835	84,378	100,992
Staff costs	(270,649)	(279,864)	(305,859)
Other operating expense	(245,899)	(265,182)	(270,090)
Depreciation and amortization	(84,951)	(75,463)	(73,532)
Impairment loss	(17,488)	(43,052)	(25,290)
Other gain (loss)	1,105	555	(29)
Operating profit	(133,457)	38,181	196,940
Finance income	3,474	7,248	5,422
Finance costs	(20,775)	(21,942)	(38,793)
Exchange differences	(23,886)	13,565	(7,551)
Profit before tax	(174,644)	37,052	156,018
Income tax expense	(2,468)	(16,252)	(57,540)
Total Profit for the year	(177,112)	20,800	98,478
Profit for the year attributable to the Parent	(170,700)	23,538	82,662
(Loss) Profit attributable to non-controlling interests	(6,412)	(2,738)	15,816
Earnings per share
Profit for the year attributable to the Parent	$ (170,700)	$ 23,538	$ 82,662
Weighted average number of basic shares outstanding	188,360,675	188,144,651	187,872,191
Weighted average number of dilutive shares outstanding	188,360,675	188,808,918	190,289,808
Basic earnings per ordinary share (U.S.$)	$ (0.91)	$ 0.13	$ 0.44
Diluted earnings per ordinary share (U.S.$)	$ (0.91)	$ 0.12	$ 0.43

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	12 Months Ended
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Cash flows from operating activities:
(Loss) profit for the year	$ (177,112,000)	$ 20,800,000	$ 98,478,000
Adjustments to reconcile net profit to net cash provided by operating activities:
Income tax expense	2,468,000	16,252,000	57,540,000
Depreciation and amortization	84,951,000	75,463,000	73,532,000
Finance income	(3,474,000)	(7,248,000)	(5,422,000)
Finance costs	20,775,000	21,942,000	38,793,000
Exchange differences	23,886,000	(13,565,000)	7,551,000
Impairment loss	17,488,000	43,052,000	25,290,000
Share-based compensation	1,814,000	4,924,000	7,402,000
Other (gain) loss	(1,105,000)	(555,000)	29,000
Write downs of inventories to net realizable value	22,937,000	16,963,000	13,687,000
Change in fair value of derivatives not designated as hedging instruments	42,263,000	5,389,000
Changes in operating assets and liabilities:
Decrease (increase) in inventories	43,759,000	47,000	102,179,000
Decrease (increase) in trade receivables	13,414,000	22,765,000	80,766,000
Decrease (increase) in other receivables	19,029,000	770,000	45,692,000
Decrease (increase) in energy receivable	31,041,000	131,959,000	(159,807,000)
(Decrease) increase in trade payables	(28,682,000)	(17,255,000)	(70,573,000)
Other changes in operating assets and liabilities	(51,659,000)	(62,646,000)	(23,457,000)
Income taxes paid	(10,329,000)	(15,799,000)	(113,308,000)
Net cash provided by operating activities	51,464,000	243,258,000	178,372,000
Cash flows from investing activities:
Interest and finance income received	3,556,000	2,799,000	3,725,000
Payments due to investments:
Intangible assets	(1,556,000)	(3,024,000)	(2,787,000)
Property, plant and equipment	(61,703,000)	(76,165,000)	(83,679,000)
Other financial assets	(15,119,000)	(3,000,000)
Disposals:
Other non-current assets	1,690,000		935,000
Receipt of asset-related government grant		12,453,000
Net cash used in investing activities	(73,132,000)	(66,937,000)	(81,806,000)
Cash flows from financing activities:
Dividends paid	(10,451,000)	(9,758,000)
Payment for debt and equity issuance costs	(205,000)	(6,000)
Repayment of debt instruments	(35,760,000)	(147,624,000)	(179,075,000)
Proceeds from debt issuance	50,244,000	10,255,000
Increase (decrease) in bank borrowings:
Borrowings	522,270,000	509,186,000	432,274,000
Payments	(446,041,000)	(495,726,000)	(456,506,000)
Payments for lease liabilities	(16,185,000)	(16,201,000)	(14,967,000)
Proceeds from other financing liabilities	(44,748,000)	6,054,000
Other (payments) receipts from financing activities	1,581,000	(3,068,000)	(21,666,000)
Payments to acquire own shares	(4,691,000)	(2,428,000)
Interest paid	(12,550,000)	(26,192,000)	(42,207,000)
Net cash used in financing activities	3,464,000	(175,508,000)	(282,147,000)
Total net increase (decrease) in cash and cash equivalents	(18,204,000)	813,000	(185,581,000)
Beginning balance of cash and cash equivalents	133,271,000	137,649,000	322,943,000
Foreign exchange (losses) gains on cash and cash equivalents	7,920,000	(5,191,000)	287,000
Restricted cash and cash equivalents	175,000	298,000	1,179,000
Cash and cash equivalents	122,812,000	132,973,000	136,470,000
Ending balance of cash and cash equivalents	$ 122,987,000	$ 133,271,000	$ 137,649,000

CONSOLIDATED STATEMENTS OF FINANCIAL POSITION - USD ($)	Dec. 31, 2025	Dec. 31, 2024
Non-current assets
Goodwill	$ 12,472,000	$ 14,219,000
Intangible assets	132,682,000	103,095,000
Property, plant and equipment	486,678,000	487,196,000
Other financial assets	26,717,000	19,744,000
Deferred tax assets		6,580,000
Receivables from related parties	1,763,000	1,558,000
Other non-current assets	21,436,000	22,451,000
Total non-current assets	681,748,000	654,843,000
Current assets
Inventories	306,160,000	347,139,000
Trade receivables	191,536,000	188,816,000
Other receivables	74,665,000	83,103,000
Current income tax assets	5,564,000	7,692,000
Other financial assets	11,104,000	5,569,000
Other current assets	21,716,000	52,014,000
Restricted cash and cash equivalents	175,000	298,000
Cash and cash equivalents	122,812,000	132,973,000
Total current assets	733,732,000	817,604,000
Total assets	1,415,480,000	1,472,447,000
Equity
Share capital	1,962,000	1,962,000
Share Premium	86,220,000	86,220,000
Treasury Shares	(19,050,000)	(14,360,000)
Reserves	905,243,000	890,346,000
Translation differences	(212,735,000)	(275,829,000)
Valuation adjustments	4,677,000	8,630,000
Result attributable to the Parent	(170,700,000)	23,538,000
Equity attributable to the Parent	595,617,000	720,507,000
Non-controlling interests	96,640,000	113,738,000
Total equity	692,257,000	834,245,000
Non-current liabilities
Deferred income	26,394,000	8,014,000
Provisions	30,487,000	24,384,000
Provisions for pensions	28,903,000	27,618,000
Bank borrowings	60,136,000	13,911,000
Lease liabilities	57,429,000	56,585,000
Derivative financial liabilities.	45,198,000	1,086,000
Other financial liabilities	22,035,000	24,602,000
Deferred tax liabilities	11,005,000	19,629,000
Other non-current liabilities	345,000	13,759,000
Total non-current liabilities	281,932,000	189,588,000
Current liabilities
Provisions	87,308,000	83,132,000
Provisions for pensions	186,000	168,000
Bank borrowings	79,876,000	43,251,000
Lease liabilities	12,254,000	12,867,000
Debt instruments	26,014,000	10,135,000
Other financial liabilities	11,408,000	48,117,000
Payables to related parties	2,577,000	2,664,000
Trade payables	144,853,000	158,251,000
Income tax liabilities	970,000	10,623,000
Other current liabilities	75,845,000	79,406,000
Total current liabilities	441,291,000	448,614,000
Total equity and liabilities	$ 1,415,480,000	$ 1,472,447,000