By implementing the previously announced development strategy, Elkem which is owned by BlueStar, achieved revenue growth and EBITDA growth by the end of 2017. In 2016, its revenue was 13.6 billion yuan, EBITDA 1.2 billion yuan. In 2017, its revenue was 17.2 billion yuan, EBITDA 2.5 billion yuan.
In June 2017, Xinghuo Organic Silicone Plant and Lanzhou Bluestar Silicon Material Co., Ltd., two domestic companies owned by Bluestar, were formally merged into Elkem. The above financial figures included the unaudited full-year figures for 2016 and 2017 of the two companies. The merger of the two Chinese companies into Elkem contributed to Elkem’s revenue and EBITDA growth in 2017.
Elkem's financial report for 2017 will be announced before the end of April 2018.