GrafTech International Ltd. reported a net loss of $219.8 million for the fiscal year ending December 31, 2025, a significant increase from the $131.2 million loss recorded in 2024. The company's net sales decreased by 6% to $504.1 million, down from $538.8 million in the previous year, primarily due to a 13% decline in the weighted-average realized price of graphite electrodes, which was partially offset by a 6% increase in sales volume. The company produced approximately 112,000 metric tons of graphite electrodes in 2025, reflecting a 15% increase compared to 2024, while sales volume reached approximately 109,000 metric tons, a 6% increase year-over-year.
In terms of operational developments, GrafTech's production capacity utilization was reported at 63% for 2025, up from 55% in 2024. The company continues to focus on its vertical integration strategy, particularly in petroleum needle coke production, which is essential for graphite electrode manufacturing. As of December 31, 2025, GrafTech had a total employee count of 1,071, with 61% of its workforce covered by collective bargaining agreements. The company has also been actively managing its working capital and capital expenditures, with anticipated capital expenditures of approximately $35 million for 2026.
Strategically, GrafTech has shifted its sales focus towards the United States, which has shown stronger pricing for graphite electrodes. This shift is expected to enhance the company's average selling price by approximately $135 per metric ton. The company has also been exploring opportunities to optimize its order book and improve its cost structure, achieving a cumulative decline in cash cost of goods sold per metric ton of 31% since the end of 2023. Despite these efforts, the company faces ongoing challenges from aggressive competitor pricing and a competitive market environment.
Looking ahead, GrafTech anticipates a modest recovery in global steel demand in 2026, with projections indicating a 5-10% year-over-year increase in sales volume. The company expects to benefit from the long-term growth in the electric arc furnace steelmaking method, which is anticipated to drive demand for graphite electrodes. However, the company remains cautious about pricing dynamics, as industry-wide pricing levels are currently viewed as unsustainably low. GrafTech's management is committed to maintaining a disciplined approach to pricing and production, focusing on regions where higher average selling prices can be captured.
About GRAFTECH INTERNATIONAL LTD
GrafTech International Ltd. is a leading manufacturer of high-quality graphite electrodes and petroleum needle coke, primarily serving the electric arc furnace steel industry worldwide. Its products enable efficient, sustainable steel production and are also used in lithium-ion batteries for electric vehicles. The company leverages vertical integration, technological expertise, and global customer service to maintain a competitive edge in the industrial materials sector.
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