Afarak Group Oyj provided earnings guidance for the first quarter of 2018. For the quarter, a range of market-induced factors affected the profitability of operations during the period and the company currently expects to post a negative EBITDA in the broad region of €1 million for the quarter. Following a 30% drop in the charge chrome benchmark price from a year earlier on one side, and the significantly increased prices of raw materials, graphite electrodes and ferrosilicon on the other, profitability was further hindered by weakening of the US dollar combined with a strengthening of the South African Rand. In addition, several technical issues, including breakdowns and temporary stoppages of processing equipment in its South African mining operations, caused lower production outputs, ultimately affecting raw material supply to Mogale, as well as revenues from sales of chrome ore to the market. Looking ahead, the benchmark price for quarter two rebounded by 20% from that in quarter one, albeit still lower than that a year earlier. This is expected to support a positive quarter two result on the back of higher sales prices and volumes.