At Elkem, we have a strategy of dual-play growth and green leadership. It is on this basis we have set out specific growth ambitions for Elkem: We aim to become among the top three players in the silicones industry worldwide, and to be the number one player in silicon products and carbon solutions in the West.

This means growing not just with the markets we are in, but faster. We aim to grow by more than 5% per year, but also to do so profitably, with an EBITDA margin of at least 15% per year.

We have a good balance between Eastern and Western markets, with around 60% of our revenues in the West and 40% in the East. This balance provides more stability in revenue and earnings. As we saw during the pandemic, weakness in one region has largely been offset by a more positive development in other regions. In addition, the pandemic showed the vulnerability of global supply chains.

We have experienced that Elkem’s integrated value chain provides significant competitive advantage and margin protection.

Green leadership: One of the winners in the green transition
Elkem aims to be part of the solution to combat climate change – and to be one of the winners in the green transition. We will do this through three key levers:

1. Reducing our emissions: we already have a strong position with 83% of our energy consumption being renewable. Our target is to reduce overall CO₂ emissions by 28% within 2031. In December 2021, Elkem was awarded double A- scores from CDP for the company’s efforts on climate and forests.
2. Supplying to the transition: Elkem aims to grow its supplies of advanced materials to green markets such as better buildings, electric vehicles and renewable energy. Our largest single customer across Elkem globally is now a globally recognised producer of electric vehicles.
3. Enabling circular economies: we continue to work closely with customers and researchers to increase recycling within our own operations, as well as developing the ecodesign of innovative products.

Unprecedented volatility – but also opportunity
For us in Elkem, and our entire global team, across geographies and divisional lines, from top management to front-line workers, we are aligned around a clear mission: To provide advanced silicon-based materials shaping a better and more sustainable future. This describes what we do, but also why we do it and why it is so important.

I have been in Elkem’s top management for 22 years, and now more than 12 years as CEO. I have never seen such volatility in markets combined with inflationary pressure and uncertainty regarding future economic activity as now. At the same time, I also see an unprecedented opportunity for Elkem given our diversity geographically and culturally, our broad product range, and good positions to take part in the green transition.

This gives me confidence that we will be able to continue to deliver value for all our stakeholders – in line with our purpose: Delivering your potential.