Current shareholder and former institutional portfolio manager, Nilesh Undavia, issues an open letter to GrafTech International Ltd. Shareholders
Since 2019 (the first full year after the IPO), GrafTech’s Revenue has declined by 65% and Adjusted EBITDA has collapsed by 98%.
- Since 2019 (the first full year after the IPO), GrafTech’s Revenue has declined by 65% and Adjusted EBITDA has collapsed by 98%.
- Yet, the Board and management appear to have no credible strategy or plan to address the underlying failures of the core business.
- Currently, the board has only one director out of seven total members1, with outside experience in the steel industry that GrafTech serves.
- All of the remaining board members appear to lack relevant and transferrable expertise specific to GrafTech.