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
This is an excerpt of the original content. To continue reading it, access the original document here.
Attachments
- Original Link
- Original Document
- Permalink
Disclaimer
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.