Group 1 - Algoma Steel Group Inc. will participate in the Stifel Canada's 3rd Annual Summer Solstice Conference from June 24 to June 26, 2024, and will post a presentation on its website prior to the event [1] - Algoma is a fully integrated producer of hot and cold rolled steel products, serving sectors such as automotive, construction, energy, defense, and manufacturing [2] - The company is the only producer of discrete plate products in Canada and operates one of the lowest-cost hot rolled sheet steel producers in North America [2] Group 2 - Algoma is undergoing a transformation by modernizing its plate mill and adopting electric arc technology to reduce carbon emissions [3] - The company emphasizes recycling and environmental stewardship as part of its commitment to becoming a leading producer of green steel in North America [3] - Algoma aims to provide a secure steel supply and sustainable future for its customers, leveraging its rich steelmaking tradition [3]

Algoma Steel Group Inc. (NASDAQ:ASTL) Q4 2024 Earnings Conference Call June 21, 2024 11:00 AM ET Company Participants Michael Moraca - Vice President, Corporate Development and Treasurer Michael Garcia - Chief Executive Officer Rajat Marwah - Chief Financial Officer Conference Call Participants David Ocampo - Cormark Securities Ian Gillies - Stifel Katja Jancic - BMO Capital Markets Operator Greetings. Welcome to Algoma Steel Group Incorporated Full Year Fiscal 2024 Earnings Call. At this time, all particip ...

Plate and Strip Operations Running at Planned Production Levels Reaffirmed Outlook on Transformative Electric Arc Furnace (EAF) Project Provides Outlook for Q1 Fiscal 2025 Further Strengthened Liquidity with US$350 Million Senior Secured Second Lien Note Financing SAULT STE. MARIE, Ontario, June 20, 2024 (GLOBE NEWSWIRE) -- Algoma Steel Group Inc. (NASDAQ: ASTL; TSX: ASTL) ("Algoma" or "the Company"), a leading Canadian producer of hot and cold rolled steel sheet and plate products, today announced results ...

Core Insights - Algoma Steel Group Inc. reported its fiscal fourth quarter and full year results, highlighting a net income of CAD 28.0 million for Q4, a significant improvement from a net loss of CAD 20.4 million in the prior-year quarter [1][4][6] - The company reaffirmed its outlook on the transformative Electric Arc Furnace (EAF) project, which is expected to position Algoma as one of the greenest steel producers in North America [3][8] - Algoma strengthened its liquidity by issuing US$350 million in Senior Secured Second Lien Notes, enhancing its balance sheet flexibility [3][12] Fiscal 2024 Fourth Quarter Comparisons - Consolidated revenue for Q4 was CAD 620.6 million, down from CAD 677.4 million in the prior-year quarter [1][4] - Consolidated income from operations decreased to CAD 3.1 million from CAD 21.7 million year-over-year [1][4] - Adjusted EBITDA for Q4 was CAD 41.5 million, with an Adjusted EBITDA margin of 6.7%, compared to CAD 47.9 million and 7.1% in the prior-year quarter [1][5] Fiscal 2024 Full Year Comparisons - Total consolidated revenue for fiscal 2024 was CAD 2,795.8 million, slightly up from CAD 2,778.5 million in the previous year [2][6] - Net income for the full year was CAD 105.2 million, down from CAD 298.5 million in the prior year [2][6] - Adjusted EBITDA for the year was CAD 312.7 million, with an Adjusted EBITDA margin of 11.2%, compared to CAD 452.3 million and 16.3% the previous year [2][7] Operational Highlights - Shipments in Q4 totaled 450,966 tons, a decrease of 21.1% from 571,647 tons in the prior-year quarter [1][5] - The company completed the latest upgrade related to the plate mill modernization project, which is expected to enhance financial performance [3][11] - The EAF project is budgeted between CAD 825 million to CAD 875 million, with approximately CAD 800 million contracted [8] Financial Position and Liquidity - Cash flows generated from operations in Q4 were CAD 121.2 million, compared to CAD 95.4 million in the prior-year quarter [1][5] - The company declared a quarterly dividend of US$0.05 per share, payable on July 19, 2024 [13] - The issuance of US$350 million in Senior Secured Second Lien Notes is intended for general corporate purposes, adding strength to the balance sheet [3][12]

SAULT STE. MARIE, June 11, 2024 (GLOBE NEWSWIRE) -- Algoma Steel Group Inc. (NASDAQ:ASTL, TSX:ASTL) ("Algoma"), a leading Canadian producer of hot and cold rolled steel sheet and plate products, announced today that it has appointed Erin Oliver in a newly created role of Vice President - Health and Safety. Erin will report to CEO Mike Garcia and sit on the Company's senior leadership team. Originally from Sault Ste. Marie, Erin is a seasoned Health and Safety professional with over 25 years of experience an ...

SAULT STE. MARIE, June 11, 2024 (GLOBE NEWSWIRE) -- Algoma Steel Group Inc. (NASDAQ: ASTL; TSX: ASTL) (“Algoma”), a leading Canadian producer of hot and cold rolled steel sheet and plate products, announced today that it has appointed Erin Oliver in a newly created role of Vice President - Health and Safety. Erin will report to CEO Mike Garcia and sit on the Company’s senior leadership team. Originally from Sault Ste. Marie, Erin is a seasoned Health and Safety professional with over 25 years of experience ...

Company Overview - Algoma Steel Group Inc. is a leading Canadian producer of hot and cold rolled steel sheet and plate products, based in Sault Ste. Marie, Ontario [3] - The company is a fully integrated producer and a key supplier of steel products in North America, being the only producer of discrete plate products in Canada [3] - Algoma's Direct Strip Production Complex (DSPC) is recognized as one of the lowest-cost producers of hot rolled sheet steel in North America [3] Financial Results Announcement - Algoma will release its fiscal 2024 fourth quarter and full year financial results after the market closes on June 20, 2024 [1] - A webcast and conference call to discuss the results will take place on June 21, 2024, at 11:00 a.m. Eastern Time [1] Strategic Initiatives - The company is undergoing a transformation journey, modernizing its plate mill and adopting electric arc technology to lower carbon emissions significantly [4] - Algoma is focused on building a greener future and enhancing its operational efficiency through investments in people and processes [4] - The company aims to become one of North America's leading producers of green steel, emphasizing recycling and environmental stewardship [4]

SAULT STE. MARIE, Ontario, June 06, 2024 (GLOBE NEWSWIRE) -- Algoma Steel Group Inc. (NASDAQ:ASTL, TSX:ASTL) ("Algoma" or "the Company"), a leading Canadian producer of hot and cold rolled steel sheet and plate products, announced today that the Company will release its fiscal 2024 fourth quarter and full year financial results after the market closes on Thursday, June 20, 2024. A webcast and conference call will be held on Friday, June 21, 2024 at 11:00 a.m. Eastern Time to review the Company's results, di ...

SAULT STE. MARIE, Ontario, Feb. 14, 2024 (GLOBE NEWSWIRE) -- Algoma Steel Group Inc. (NASDAQ:ASTL, TSX:ASTL) ("Algoma" or "the Company"), a leading Canadian producer of hot and cold rolled steel sheet and plate products, today advised the repair and restart of its blast furnace is complete and steel production resumed on Sunday, February 11, 2024. Algoma has strengthened its operations while advancing essential repair work required after a structure supporting utilities piping at Algoma's coke-making plant ...

SAULT STE. MARIE, Ontario, Feb. 09, 2024 (GLOBE NEWSWIRE) -- Algoma Steel Group Inc. (NASDAQ:ASTL, TSX:ASTL) ("Algoma" or "the Company"), a leading Canadian producer of hot and cold rolled steel sheet and plate products, today advised that at approximately 10:00 pm on Wednesday, February 7 there was an incident at the north casthouse of the blast furnace complex where the Company believes slag made contact with moisture in the hot iron trough. Twelve workers were impacted by the incident and five were treat ...