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Nov 5 , 2021 6:45 AM Eastern Daylight Time GrafTech Reports Third Quarter 2021 Results Share in X € ✔ ✔ . . . Continued Strength in Market Conditions Supporting Improved Pricing and Profitability BROOKLYN HEIGHTS , Ohio -- ( BUSINESS WIRE ) -- GrafTech International Ltd. ( NYSE : EAF ) ( GrafTech or the Company ) today announced financial results for the quarter and nine months ended September 30 , 2021 . Third Quarter 2021 and Other Highlights • Net income of $ 120 million , or $ 0.45 per share , and net income margin of 35 % • • . • • Adjusted EBITDA¹ of $ 172 million , for a 50 % adjusted EBITDA margin² Sales volume increased 33 % compared to the third quarter of 2020 Reduced debt $ 100 million and $ 300 million year - to - date through the third quarter Repurchased 4.3 million shares of stock for $ 46 million Board approves $ 150 million stock repurchase program CEO Comments President and Chief Executive Officer David Rintoul commented , " We are pleased with our third quarter results , reflecting strength in market demand and rising graphite electrode prices and solid execution by our team . Our average non - LTA graphite electrode price increased 12 % sequentially from the second quarter of 2021. We expect our fourth quarter non - LTA prices to increase an additional 7-9 % over the third quarter , with a larger sequential increase in 2022 , supported by continued strength in the global steel market .