Alumetal Group

Financial results 2021

16 March 2022

FY 2021 at glance

  • 230,6k tons sales volume (47% increase yoy) - significant increase in sales despite the decline in motor vehicles production in Europe
  • PLN 214,4 mn EBITDA (119% increase yoy) - the effect of increased sales volumes of casting and master alloys, sustainable changes in production efficiency
  • PLN 148,4 mn normalized consolidated net profit (128% increase yoy) - mainly due to EBITDA growth
  • PLN 19,3 mn operating cash flow - significant increase of net working capital due to increase in sales volume and prices
  • PLN 156,2 mn net debt (0,7x EBITDA'21) - increase of net debt as a result of increase in net working capital, dividend payment and capital expenditure

Motor vehicle production and sales in the EU and UK in thou. units

20 000

19 725

18 698

18 439

18 254

18 609

18 358

18 604

18 002

17 552

18 000

18 520

17 079

17 127

18 130

17 887

16 276

16 318

17 645

17 541

16 000

16 760

16 970

15 774

15 797

15 290

15 104

15 065

13 798

13 630

14 000

14 400

13 624

13 749

13 597

13 102

12 000

10 000

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017

2018

2019

2020

2021

Production

Registration

Source: OICA i ACEA

  • Due to limited supply of semiconductors, motor vehicle production in EU and UK decreased by 5% in 2021 from the very low 2020 level caused by COVID-19. The 2021 production level is almost 30% below the 2015-19 average production level
  • For the first time in history, CEE5 countries have produced more motor vehicles than Germany. Every second motor vehicle in the EU and UK is produced in CEE5 and Germany
  • EU and UK motor vehicle registrations in 2021 were at similar levels as in 2020

Metal Bulletin 226 alloy spread in EUR per ton

900

800

700

600

500

400

300

200

100

0

351 EUR/t

01-201204-201207-201210-201201-201304-201307-201310-201301-201404-201407-201410-201401-201504-201507-201510-201501-201604-201607-201610-2016

01-201704-201707-201710-201701-201804-201807-201810-201801-201904-201907-201910-201901-202004-202007-202010-202001-202104-202107-202110-2021

monthly average

ten-year average

  • In 2021 average benchmark margin amounted to 507 EUR/t which was 31% higher than 2020 and 44% higher than the ten-year average margin of 351 EUR/t
  • In 2021 high volatility of the average benchmark margin - 558 EUR/t in 1Q'21, 392 EUR/t in 2Q'21, 412 EUR/t in 3Q'21 and 665 EUR/t in 4Q'21
  • In 1Q 2022 margin remains at a high level (516 EUR/t in January, 560 EUR/t in February)

Export/import of aluminium scrap from/to the EU and Poland

Export/import of Al scrap from/to UE in k tons *

1 200

1 140

320

1 000

260

800

200

600

563

140

400

80

200

20

2004

2006

2008

2010

2012

2014

2016

2018

2020

Export

Import

Export/import of Al scrap from/to Poland in k tons*

307

225

2004

2006

2008

2010

2012

2014

2016

2018

2020

Export Import

Source: Eurostat

    • Note: data up to 2019 include statistics with UK, from 2020 there are no data for UK in Eurostat
  • Net export of scrap from EU increased from 345k tons in 2020 to 577k tons in 2021, i.e. by 67%. Export to China and India increased from 344k tons in 2020 to 387k tons in 2021 i.e. by 13%. Exports to Turkey and Malaysia has been growing
  • Net export of scrap from Poland slightly increased from 79k tons in 2020 to 82k tons in 2021

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Alumetal SA published this content on 16 March 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 March 2022 12:57:06 UTC.