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  • Terrafame Ltd
    Malmitie 66, 88120 Tuhkakylä
    +358 20 7130 800

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    Terrafame publishes its January–March 2024 result on 26 April

    The battery chemicals producer Terrafame Ltd publishes its January–March 2024 result on Friday 26 April approximately at 09:00 a.m. Finnish time. The media release will be available on the company’s website at www.terrafame.com after publishing. A webcast in Finnish for the media will be held on the same day at 1:00 p.m. During the event, the company’s CEO, Seppo Voutilainen, and CFO, Ville Sirviö, will discuss the company’s financial result. You can follow the webcast at terrafame.videosync.fi/q1-2024. Questions can be sent via the form located at the bottom of the webcast page.

    Terrafame to bring its battery chemicals plant to a halt due to the national strikes in Finland

    Terrafame has decided to bring the company’s battery chemicals plant to a halt for approximately four weeks. The shutdown is a result of the industrial actions in Finland that have continued for several weeks and are affecting the logistics chain. Due to the strikes, Terrafame has not been able to execute the export deliveries of the products of its battery chemicals plant, which has forced Terrafame to store the products in its industrial area. The possibilities for storing said products in the industrial area are limited due to, for example, restricted storage capacity and challenges in

    Terrafame concluded its change negotiations

    In February 2024, Terrafame announced that it had decided to initiate a profitability programme, aiming to generate EUR 10 million in annual savings and to improve the company’s international competitiveness and profitability. As part of the profitability programme, Terrafame issued on 21 February 2024 an invitation to change negotiations concerning all personnel groups on production-related and financial grounds in accordance with the Finnish Co-operation Act. The negotiations affected Terrafame’s entire personnel, which is comprised of over 800 permanent employees. The aim of the

    Seppo Voutilainen appointed as Terrafame’s CEO

    Terrafame Ltd’s Board of Directors has appointed M.Sc. (Eng.) Seppo Voutilainen (52) as Terrafame Ltd’s CEO. Voutilainen has acted as Terrafame’s interim CEO since January 2024. Voutilainen has more than 30 years of experience in the chemical and mining industries, both in Finland and internationally. He has been a member of Terrafame’s Management Team and the company’s Chief Production Officer since 2020. Voutilainen has previously served as Development Director of European Operations and Assistant General Manager at Agnico Eagle Mines Ltd in 2012–2020, General Manager of Agnico Eagle’s

    Change in Board of Directors of Terrafame Ltd

    Terrafame Ltd’s Annual General Meeting on 20 March 2024 decided to elect Peter Schuhmacher, 58, PhD in Chemistry, as a new member of the Board of Directors. Peter has been the president of BASF’s Battery Materials and Recycling and Catalysts Division until the end of December 2023. He is independent of the company and its major shareholders. The General Meeting confirmed the number of the Board members as seven persons. Tuomo Mäkelä, who has been a member of the Board of Directors from 2015, had announced, that he will no longer be available as a member of the Board. Lauri Ratia (Chair

    Terrafame’s Financial Review 2023 is published

    Terrafame Ltd’s Financial Review 2023 has been published today. The Financial Review includes the Board of Directors' Review and the Financial Statements (FAS) for the period 1 January–31 December 2023. In addition, Terrafame has published its Corporate Governance Statement and Remuneration Report for 2023 as well as the updated Remuneration Policy for governing bodies. All documents are attached to this news release in pdf format and they are also available at www.terrafame.com > Company > Reports and publications .

    Terrafame 2023: The operating result decreased in a challenging market, but basic production continued close to a record level

    The financial information presented about Terrafame Ltd in this media release consists of unaudited FAS figures. The figures in brackets refer to the corresponding period in the previous year unless otherwise stated. October–December 2023 in brief: · Net sales from the battery chemicals business decreased to EUR 41.2 (70.6) million, or 26.6% (38.0) of the company’s total net sales. Net sales were affected by a decrease in the market price of nickel sulphate and limited production volumes. · Net sales from the metal intermediates business totalled EUR 113.6 (115.1) million. A

    Terrafame pursues annual savings of EUR 10 million and initiates change negotiations

    Terrafame follows a model of continuous improvement, actively seeking ways to enhance its profitability. The challenges seen in the electric vehicle market in 2023, especially in the Chinese market, have also affected Terrafame’s battery chemicals business. Terrafame has decided to initiate a profitability programme, aiming for EUR 10 million in annual savings. The goal is to improve the company’s international competitiveness and profitability. The company is currently implementing significant investment programmes, which are necessary for the continuation of its operations and

    Terrafame publishes its January–December 2023 result on 1 March

    Battery chemicals producer Terrafame Ltd publishes its January–December 2023 result on Friday 1 March 2024 approximately at 09:00 a.m. Finnish time. The report will be available on the company’s website at www.terrafame.com after publishing. A webcast in Finnish for the media will be held on the same day at 12:00 p.m. During the event, the company’s interim CEO, Seppo Voutilainen, and CFO, Ville Sirviö, will discuss the company’s financial result. Terrafame Ltd’s Chairman of the Board, Lauri Ratia, will also be present at the event. You can follow the webcast at terrafame.videosync.fi/

    Terrafame has strengthened its financing position

    Terrafame’s financing arrangements consist of a repayment of EUR 142 million in shareholder loans to Galena and Mandatum through stock option exercises and entering into a EUR 250 million loan agreement from a Nordic bank club. As part of strengthening Terrafame Ltd’s (“Terrafame”) financing position, funds under the management of Galena Asset Management (“Galena”) and Mandatum Holding Ltd (“Mandatum”) have exercised stock options previously granted to them. The funds received from the stock options have been used to repay the EUR 142 million long-term term loans from Trafigura and

    Terrafame’s CEO Joni Lukkaroinen to step down

    Terrafame Ltd’s Board of Directors and CEO Joni Lukkaroinen have agreed that Lukkaroinen will step down from his current position. Mr Lukkaroinen has served as Terrafame’s CEO since 2016. The Board of Directors has appointed Seppo Voutilainen as the interim CEO of Terrafame, effective immediately. Mr Voutilainen has served as a member of the Leadership Team and as Chief Production Officer at Terrafame since September 2020, and will continue in the latter role in addition to assuming his duties as the interim CEO. “Joni Lukkaroinen has served as Terrafame’s CEO for nearly eight years.

    Terrafame’s operating profit EUR 23.5 million in the third quarter

    The financial information presented about Terrafame Ltd in this bulletin consists of unaudited FAS figures. The figures in brackets refer to the corresponding period in the previous year unless otherwise stated. July–September 2023 in brief: · Net sales from the battery chemicals business decreased to EUR 28.0 (39.1) million, or around 20% of the company’s total net sales. The decrease resulted from a decrease in the market price of nickel sulphate. A shutdown at the battery chemicals plant until the beginning of August decreased production volume and net sales. · Net sales from

    Terrafame Ltd publishes its January–September 2023 result on 26 October

    Terrafame Ltd publishes its January–September result on Thursday 26 October 2023 approximately at 09:00 a.m. Finnish time. The report will be available on the company’s website at www.terrafame.com after publishing. Webcast briefing in Finnish for media representatives will be held on the same day 2 p.m. Finnish time. In the briefing the result will be presented by Terrafame Ltd’s Chief Executive Officer Joni Lukkaroinen. The webcast can be viewed at terrafame.videosync.fi/q3-2023. Questions can be asked by sending a message via the form found on the same page. Contact person for

    A drop in the nickel sulphate market in China decreased Terrafame's operating result while basic production remained at a good level

    The financial information presented about Terrafame Ltd in this release consists of unaudited FAS figures. The figures in brackets refer to the corresponding period of the previous year unless otherwise stated. April−June 2023 in brief: · Net sales from the battery chemicals business operations decreased to EUR 32.1 (53.4) million, or around 35% of the company’s total net sales. The decline was due to a significant drop in the nickel sulphate market in China, which resulted in Terrafame's decision to stop production at its battery chemicals plant in June–July. · Net sales from

    Terrafame Ltd publishes its January–June 2023 result on 28 July

    Terrafame Ltd publishes its January–June result on Friday 28 July 2023 approximately at 09:00 a.m. Finnish time. The report will be available on the company’s website at www.terrafame.com after publishing. Webcast briefing in Finnish for media representatives will be held on the same day at 01:00 p.m. Finnish time. In the briefing the result will be presented by Terrafame Ltd’s Chief Executive Officer Joni Lukkaroinen and Chief Financial Officer Ville Sirviö. The webcast can be viewed at terrafame.videosync.fi/q2-2023. Questions can be asked by sending a message via the form found on

    Terrafame’s Sustainability Review has been published

    Terrafame has published its 2022 Sustainability Review. The review will cover highlights of the reporting period, such as the nickel sulphate supply contracts agreed with Renault Group and Stellantis, successes in occupational safety development and progress in sustainability work. Terrafame's vision is to be one of the most cost-effective and responsible producers of battery chemicals in the world and the company aims for carbon neutrality in its production by 2039. The carbon footprint of nickel sulphate produced by Terrafame is already among the smallest in the industry – thanks to

    Terrafame’s net sales and operating result continued to grow in January−March 2023

    The financial information presented about Terrafame Ltd in this release consists of unaudited FAS figures. The figures in brackets refer to the corresponding period of the previous year unless otherwise stated. January−March 2023 in brief: · Net sales from the battery chemicals business operations increased to EUR 66.2 (44.0) million, or around 38% of the company’s total net sales. · Net sales from the metal intermediates business operations totalled EUR 106.5 (83.0) million. · Total net sales were EUR 172.7 (127.0) million, representing an increase of 36% year-on-year. Net

    Terrafame Ltd publishes its January—March 2023 result on 28 April

    Terrafame Ltd publishes its January–March result on Friday 28 April 2023 approximately at 09:00 a.m. Finnish time. The report will be available on the company’s website at www.terrafame.com after publishing. Webcast briefing in Finnish for media representatives will be held on the same day at 01:00 p.m. Finnish time. In the briefing the result will be presented by Terrafame Ltd’s Chief Executive Officer Joni Lukkaroinen and Chief Financial Officer Ville Sirviö. The webcast can be viewed at terrafame.videosync.fi/q1-2023. Questions can be asked by sending a message via the form found

    Terrafame’s Financial Review 2022 is published

    Terrafame Ltd’s Financial Review 2022 has been published today. The Financial Review includes the Board of Directors' Review and the Financial Statements (FAS) for the period 1 January–31 December 2022. In addition, Terrafame has published its Corporate Governance Statement and Remuneration Report for 2022. All documents are attached to this news release in pdf format and they are also available at www.terrafame.com > Company > Reports and publications . Terrafame reduces the carbon footprint of transport by

    Terrafame’s net sales increased significantly in 2022 – operating result above EUR 90 million

    The financial information presented about Terrafame Ltd in this media release consists of unaudited FAS figures. The figures in brackets refer to the corresponding period of the previous year unless otherwise stated. October–December 2022 in brief: · Net sales from the battery chemicals business operations totalled EUR 70.6 (17.4) million, or around 38% of Terrafame’s net sales. Net sales increased from the previous quarter (39.1), when production volumes decreased as a result of a maintenance shutdown at the battery chemicals plant. · Net sales from the metal intermediates

    Terrafame Ltd publishes its January–December 2022 result on 3 March

    The battery chemicals producer Terrafame Ltd publishes its January–December 2022 result on Friday 3 March 2023 approximately at 9:00 a.m. Finnish time. The report will be available on the company’s website at www.terrafame.com after publishing. A briefing in Finnish for media representatives will be held on the same day at 11 a.m. at the Lilla Roberts Hotel in Helsinki (Selim Auditorium, Pieni Roobertinkatu 1-3). At the briefing, CEO Joni Lukkaroinen will present the company's result. After that, Lauri Ratia, Chairman of the Board of Terrafame Ltd, will talk about company’s journey to

    Umicore signs long-term agreement with Terrafame for the supply of sustainable low carbon nickel

    Umicore has signed a long-term agreement with Terrafame Ltd. for the supply of low carbon, sustainable high-grade nickel sulphate. Following the successful completion of the qualification process, commercial deliveries have already started with further ramp-up of volumes to take place during 2023. With this partnership, Umicore and Terrafame reconfirm their strong commitment to establish a sustainable battery materials value chain in Europe. The European value chain will secure the high quality European origin battery materials which are fully aligned with the environmental and human

    Terrafame and Stellantis Agree on Low-Carbon Nickel Sulphate Supply for Electric Vehicle Batteries

    · Stellantis strengthens value chain for electric vehicle battery production supporting Dare Forward 2030 strategic plan targets · Partnership strengthens the role of Terrafame as a recognized supplier of sustainable electric vehicle production · Partnership marks a concrete step towards a well-structured, transparent, and sustainable European battery cluster to fulfill Stellantis’ needs Terrafame Ltd and Stellantis N.V. announced today the signing of a supply agreement for nickel sulphate to be used in electric vehicle (EV) batteries. Beginning in 2025, Finland-based Terrafame

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