EXHIBIT 99.1
graftechinternationala251a.jpg



Contact:
Wendy Watson
216-676-2000


GrafTech Reports Third Quarter 2020 Results


BROOKLYN HEIGHTS, Ohio - November 3, 2020 - GrafTech International Ltd. (NYSE: EAF) (GrafTech or the Company) today announced financial results for the quarter ended September 30, 2020, including net income of $94 million, or $0.35 per share, and Adjusted EBITDA
(1) of $153 million.

"We are pleased with GrafTech's third quarter financial results while operating in a challenging environment and appreciate the ongoing commitment of our team through the COVID-19 pandemic," said David Rintoul, President and Chief Executive Officer. "We continue to work closely with our customers and are committed to helping them navigate the current market conditions."
Third Quarter Results and Key Financial Measures
For the Three Months Ended September 30,For the Nine Months Ended September 30,
(dollars in thousands, except per share amounts)2020201920202019
Net sales$286,987 $420,797 $886,351 $1,376,181 
Net income$94,234 $175,876 $309,278 $569,680 
Earnings per share (2)
$0.35 $0.61 $1.15 $1.96 
Adjusted EBITDA(1)
$153,105 $245,454 $483,408 $813,673 
(1) A non-GAAP financial measure, see below for more information and a reconciliation of EBITDA and Adjusted EBITDA to Net income, the most directly comparable financial measure calculated and presented in accordance with GAAP.
(2) Earnings per share represents diluted earnings per share.
Net sales for the quarter ended September 30, 2020 were $287 million, compared to $421 million in the third quarter of 2019. Lower net sales reflect reduced sales volumes driven primarily by the impact of COVID-19 on steel production levels and continued customer inventory destocking.
Net income for the third quarter of 2020 was $94 million, or $0.35 per share, compared to $176 million, or $0.61 per share in the third quarter of 2019. Adjusted EBITDA was $153 million in the third quarter of 2020 compared to $245 million in the third quarter of 2019.
Cash flow from operating activities was $129 million in the third quarter of 2020, compared to $226 million in the third quarter 2019. We ended the quarter with a strong liquidity position of approximately $406 million, consisting of cash and cash equivalents of $159 million and availability of $247 million under our revolving credit facility.
1

The following information was filed by Graftech International Ltd (EAF) on Tuesday, November 3, 2020 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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