Professional
Added to YB: 2024-07-31
Pitch date: 2024-07-29
EAF [neutral]
GrafTech International Ltd.
-22.52%
current return
Author Info
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Company Info
GrafTech International Ltd. manufactures graphite electrode products worldwide. The company offers graphite electrode products for the production of EAF steel and other ferrous, and non-ferrous metals; and petroleum needle coke products.
Market Cap
$172.2M
Pitch Price
$8.30
Price Target
N/A
Dividend
N/A
EV/EBITDA
-73.17
P/E
-0.79
EV/Sales
2.24
Sector
Electrical Equipment
Category
value
Graftech (EAF) - Time To Move On
EAF: Q2 sales $137.3m (-26% y/y), 25.5k tons. Spot $4,300/ton (-2.3% q/q), LTA $8,300/ton. Costs/ton $5,200 (-16.2% y/y). FCF -$44m. 2025 pricing $4,300-$4,700/mt vs $4,900/mt costs. $70m cash by YE24. Risks: soft pricing, high costs, BoF competition. Exiting position due to capital raise concerns & vertical integration thesis failure.
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