Tokai Carbon operating income surges 66% despite sales decline

Tokai Carbon reported operating income jumped 65.7% to JPY13.9 billion in the first half of FY2025, beating forecasts by 34% despite net sales falling 7.5% to JPY158.0 billion.

The company's Graphite Electrodes and Smelting & Lining businesses returned to profitability following structural reforms. Tokai Carbon completed consolidating domestic graphite electrode production and divested its European site, targeting total capacity of 52,000 tons annually.

EBITDA margin improved to 18.2% despite a slight year-over-year decrease in absolute terms.