Silicon, one of the metals called to play a key role in the ecological transition, has become the most promising business of the Villar Mir Group (GVM) thanks to the strong revaluation of raw materials. Ferroglobe, in which GVM retains 43.7% of the capital, obtained a profit of 575 million dollars (about 540 million euros) in 2022, compared to losses of 42 million dollars a year earlier.
"The market has helped us, but also several years of commitment to silicon metal," the company's executive president, Javier López Madrid, told La Vanguardia. "Silicon is critical to the ecological transition, from solar cells to microchips to electric car batteries."
The company made important advances both in its production centers and in the mining activity, in which it incorporated 22,000 tons of silicon at its Selma plant, in Alabama, to which it plans to add 55,000 tons from its exploitation of Polokwane, in South Africa. .
Last year's revenues were record, amounting to 2,600 million euros, 46% more, and adjusted gross profit (ebitda) was 860 million dollars, 380% more and a figure also unknown up to now for the company. company. Margins have gone from 15% at the end of 2021 to over 30%.
Silicon is an abundant mineral, but in its purest form, from high-quality quartz, it is not so easy to find. Ferroglobe, explains López Madrid, has mines in Spain, South Africa, Canada and the United States, as well as production centers in about a dozen countries, including Norway and France.
61% of the world's reserves of the purest silicon are found in China, compared to 9% in Brazil, 7% in Norway and 6% in the United States. Europe and the United States are trying to reduce their dependence on China.
Ferrogloble has started the production of high purity silicon for advanced technologies for batteries and solar panels. As he indicates, he has already begun receiving orders. It also has a business transformation plan in place.
"In Sabón, Puertollano and in our French plant we are already working on the application of silicon to batteries, since there is a lot of potential when incorporating it into the anode of the devices", indicates the executive president of the company. Ferroglobe already supplies its products in one form or another to giants like Tesla or BMW. "The world of batteries has exploded and has become the Holy Grail."
The company, whose subsidiary is the Spanish Ferroatlántica, is listed on the US Nasdaq. The Villar Mir family has lost control of OHL, now OHLA and owned by the Mexican Amodio family, so that it has two of its main business areas in Ferroglobe and Espacio Real Estate, promoter of the 'fifth tower' in Madrid. . Inmobiliaria Espacio also participates in the Canalejas Center, located in the center of Madrid and converted into one of the most luxurious architectural developments in the city.
GVM recently reduced its stake in Ferrogloble from 48.7% to 43.7%, which maintains it as the company's largest shareholder. The company has a market value of more than 800 million euros.
