First Quarter Results In-Line with Previously Announced Outlook Completed Plate Mill Upgrade, Ramping Production Towards Expected Annual Run Rate Capacity of Over 650,000 NT Continued to Significantly De-risk Transformative Electric Arc Furnace Project as Construction Continues on Schedule Announces Intention to Relaunch Normal Course Issuer Bid SAULT STE. MARIE, Ontario, Aug. 13, 2024 (GLOBE NEWSWIRE) -- Algoma Steel Group Inc. (NASDAQ: ASTL; TSX: ASTL) (“Algoma” or “the Company”), a leading Canadian produ ...

SAULT STE. MARIE, Ontario, Aug. 12, 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 the publication of its second annual Environmental, Social, and Governance (“ESG”) report (the “Report”). Michael Garcia, Algoma’s Chief Executive Officer said, “As detailed in our latest ESG report, we are driving change across our business to ensure that our transformati ...

Core Viewpoint - Algoma Steel Group Inc. is set to release its fiscal 2025 first quarter financial results on August 13, 2024, followed by a conference call on August 14, 2024, to discuss the results and recent events [1][2]. Company Overview - Algoma Steel 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 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]. Transformation and Sustainability Efforts - Algoma is undergoing a transformation by modernizing its plate mill and adopting electric arc technology, which focuses on recycling and environmental stewardship to reduce carbon emissions [4]. - The company aims to become one of North America's leading producers of green steel, emphasizing safety and teamwork in its operations [4]. - Algoma's commitment to sustainability is positioned to provide a secure steel supply and a sustainable future for its customers [4].

Core Viewpoint - Algoma Steel Group Inc. is set to release its fiscal 2025 first quarter financial results on August 13, 2024, followed by a conference call on August 14, 2024, to discuss the results and recent events [1][2]. Company Overview - Algoma Steel, based in Sault Ste. Marie, Ontario, is a fully integrated producer of hot and cold rolled steel products, including sheet and plate [3]. - The company aims to provide customer-driven product solutions across various sectors such as automotive, construction, energy, defense, and manufacturing [3]. - Algoma is the only producer of discrete plate products in Canada and operates one of the lowest-cost producers of hot rolled sheet steel in North America through its Direct Strip Production Complex [3]. Transformation and Sustainability - Algoma is undergoing a transformation by modernizing its plate mill and adopting electric arc technology to reduce carbon emissions significantly [4]. - The company is committed to investing in its workforce and processes to become a leading producer of green steel in North America [4]. - Algoma emphasizes its role as a secure steel supplier and a partner in promoting a sustainable future [4].

SAULT STE. MARIE, Ontario, June 24, 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 that the Company will participate at the Stifel Canada's 3rd Annual Summer Solstice Conference on Monday, June 24, 2024 to Wednesday, June 26, 2024 in Minett, Muskoka Lakes. Prior to Algoma's attendance at this conference, the Company will post a copy of the presentation in ...

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 ...