GRAFTECH INTERNATIONAL LTD

Listed Company

EAFCIK 0000931148NYSEAcceleratedElectrical Industrial ApparatusDelawareFY ends Dec 31

Period

FY 2025

Revenue

$504.13M

Net Income

$-219.84M

Total Assets

$1.03B

Equity

$-259.63M

Shares Out

25.82M

Op. Cash Flow

$-81.62M

Business

GrafTech International Ltd. manufactures graphite electrodes used in electric-arc-furnace steelmaking and other ferrous and non‑ferrous metal production. It offers ultra‑high‑power graphite electrodes, connecting pins, petroleum needle coke and technical services, including the ArchiTech furnace productivity platform. GrafTech operates a single Industrial Materials segment focused on graphite electrodes and petroleum needle coke, supported by R&D and manufacturing capabilities. It sells worldwide to EAF steelmakers and other metal producers through direct sales, distributors, independent representatives, short‑term and multi‑year contracts and spot orders across EMEA, the Americas and APAC.

Summary from filing dated 2025-02-14

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net sales	504	539	621	1,281	1,346
Cost of goods sold	501	534	572	726	701
Lower of cost or market inventory valuation adjustment	18	25	12	0	0
Gross (loss) profit	−16	−20	36	555	644
Research and development	6	6	6	4	4
Selling and administrative expenses	55	47	74	77	133
Restructuring Charges	0	3	0	0	—
Goodwill impairment charges	0	0	171	0	0
Operating loss	−77	−75	−214	474	508
Other (income) expense, net	−4	−2	5	−10	−16
Interest expense	104	85	58	37	69
Interest income	−7	−6	−3	−4	−872,000
Loss before income taxes	−170	−153	−274	452	456
Income tax expense (benefit)	49	−22	−19	69	68
Net loss	−220	−131	−255	383	388
Net (loss) income per share (in dollars per share)	−8.45	−5.09	−9.93	1.48	1.46
Weighted average shares outstanding (in shares)	26	26	26	259	266
Net (loss) income per share (in dollars per share)	−8.45	−5.09	−9.93	1.48	1.46
Weighted average common shares outstanding (in shares)	26	26	26	259	266
Foreign currency translation adjustments, net of tax of $0, $29 and $(8), respectively	35	−24	10	−7	−20
Commodities, interest rate and foreign currency derivatives, net of tax of $28, $2,111 and $4,424, respectively	−190,000	−8	−14	6	32
Other comprehensive income (loss), net of tax:	34	−32	−3	−626,000	12
Comprehensive loss	−185	−163	−259	382	401

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Accounts and notes receivable, net of allowance for doubtful accounts of $3,271 as of December 31, 2025 and $7,114 as of December 31, 2024	73	94	101	146	208
Inventories	225	231	330	448	289
Prepaid expenses and other current assets	48	56	66	87	73
Total current assets	485	637	675	815	628
Property, plant and equipment	987	910	920	869	815
Less: accumulated depreciation	497	428	398	350	314
Net property, plant and equipment	490	483	522	519	501
Deferred income taxes	9	53	32	12	26
Other assets	45	52	60	87	86
Total assets	1,029	1,224	1,289	1,604	1,412
Accounts payable	67	73	83	103	117
Accrued income and other taxes	8	10	10	41	57
Other accrued liabilities	53	55	92	89	56
Tax Receivable Agreement	0	2	5	5	—
Total current liabilities	128	140	191	238	235
Long-term debt	1,095	1,087	926	922	1,030
Other long-term obligations	40	49	56	51	69
Deferred income taxes	25	24	33	45	41
Tax Receivable Agreement long-term	0	4	6	11	—
Commitments and contingencies Note 12	—	—	—	—	—
Preferred stock, par value $0.01, 30,000,000 shares authorized, none issued(1)	0	0	0	0	0
Common stock, par value $0.01, 300,000,000 shares authorized, 25,820,110 and 25,726,420 shares issued and outstanding as of December 31, 2025 and December 31, 2024, respectively(1)	3	3	3	3	3
Additional paid-in capital	760	755	750	745	761
Accumulated other comprehensive loss	−9	−43	−11	−8	−7
Accumulated deficit	−1,013	−793	−662	−402	−733
Total stockholders deficit	−260	−79	78	338	23
Total liabilities and stockholders deficit	1,029	1,224	1,289	1,604	1,412
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	138	256	177	135	58

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	62	62	57	55	66
Deferred income tax expense (benefit)	43	−28	−28	17	−4
Non-cash stock-based compensation expense	5	6	4	2	17
Non-cash interest expense (benefit)	8	−2	9	−2	12
Other adjustments	9	−7	3	−8	7
Net change in working capital*	25,000	40	108	−100	−16
Change in Tax Receivable Agreement	−6	−5	−4	−4	−22
Net cash (used in) provided by operating activities	−82	−40	77	325	443
Capital expenditures	−39	−34	−54	−72	−58
Proceeds from the sale of fixed assets	554,000	100,000	220,000	195,000	397,000
Net cash used in investing activities	−38	−34	−54	−72	−58
Proceeds from term loan	0	175	0	0	0
Proceeds from Issuance of Senior Long-Term Debt	0	0	439	0	—
Principal payments on long-term debt	0	−137,000	−434	−110	−400
Debt issuance and modification costs	0	−19	−8	−2	−3
Interest rate swap settlements	0	0	27	6	4
Payments for taxes related to net share settlement of equity awards	−230,000	−118,000	−129,000	−230,000	−4
Dividends paid	0	0	−5	−10	−7
Principal payments under finance lease obligations	111,000	82,000	36,000	0	0
Net cash (used in) provided by financing activities	−341,000	156	19	−176	−472
Net change in cash and cash equivalents	−120	81	41	76	−87
Effect of exchange rate changes on cash and cash equivalents	2	−2	783,000	736,000	−1
Interest	93	88	34	40	56
Income taxes	6	5	43	67	64
Change in capital expenditures in accounts payable	166,000	−4	−9	8	7
Exchange Existing 9.875% Notes	0	−446	0	0	—
Exchange Existing 4.625% Notes	0	−498	0	0	—
New 9.875% Notes	0	446	0	0	—
New 4.625% Notes	0	498	0	0	—
Accounts and notes receivable, net	24	5	46	61	−29
Inventories	−9	69	108	−154	−28
Prepaid expenses and other current assets	487,000	9	3	593,000	−32
Income taxes payable	−123,000	−2	−27	−15	6
Accounts payable and accruals	−18	−40	−24	8	67
Interest payable	3	−1	2	185,000	371,000

Filings

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