OSLO, Norway, Feb. 13, 2026 /PRNewswire/ — Elkem reported an EBITDA of NOK 890 million for the fourth quarter 2025, compared to NOK 1 173 million in the corresponding quarter last year. The impact of the challenging market conditions was mitigated by cost improvements and strong market positions. Elkem has entered into a definitive agreement to sell the majority of its Silicones division to Bluestar, enabling the company to pursue a more focused strategy as a pure play metals and materials business, while also enhancing its financial flexibility. The sale will be settled with all Elkem shares held by Bluestar through Bluestar Elkem International Co. Ltd S.A.
Elkem’s total operating income for the fourth quarter 2025 was NOK 7 284 million, which was 14 per cent lower than the fourth quarter 2024. Earnings before interest, taxes, depreciation and amortisation (EBITDA) was NOK 890 million, down 24 per cent from the corresponding quarter last year. Earnings per share (EPS) was NOK (0.28) in the quarter and NOK (1.05) year to date. The EPS was negatively impacted by the results in Silicones. Exclusive of the Silicones division, EPS would have amounted to NOK 0.61 in 2025. Elkem’s board proposes not to distribute a dividend for the financial year 2025 as the share redemption in connection with the sale of Silicones impacts Elkem’s equity position.
“Amid challenging market conditions and pricing pressures, Elkem remains focused on capital discipline, sales optimisation and operational excellence across our three divisions. Although we continue to face uncertainties from rapidly changing geopolitical and trade dynamics, Elkem benefits from strong cost and market positions, enabling our company to adapt effectively to evolving market conditions. Today’s announcement to sell the Silicones division puts Elkem in a strong position to drive future growth once market conditions improve,” says Elkem CEO Helge Aasen.
Elkem has entered into a final share purchase agreement regarding the sale of the majority of the Silicones division assets to Bluestar in a transaction where the full consideration payable by Bluestar will be settled through redemption of all of Bluestar’s 338,338,536 shares in Elkem. Following completion of the transaction, Bluestar will …