In conjunction with the previously announced strategic initiatives for Elkem, Bluestar hereby announces that 2017 revenues for Elkem were NOK 21.3 billion and EBITDA was NOK 3.1 billion. This compares to revenues for 2016 of NOK 16.9 billion and EBITDA of NOK 1.5 billion.
The above financials are preliminary and unaudited, and therefore subject to change, and include results for Bluestar Xinghuo Silicones and Yongdeng Silicon Materials on a full year basis for both 2016 and 2017. Elkem announced the formal integration of these two Chinese entities in June 2017.? The Chinese entities contributed meaningfully to the year-over-year improvement in 2017.
Complete and final financials for 2017 will be disclosed by the end of April 2018.