Financial Performance - Revenue for the year ended December 31, 2024, was $12,082 million, a decrease of 1.1% compared to $12,213 million in 2023[3]. - Adjusted EBITDA increased by 90.1% to $1,494 million from $786 million year-on-year, with an adjusted EBITDA margin of 12.4%[3]. - Net profit for the year was $803 million, representing a significant increase of 184.8% from $282 million in 2023[3]. - The company reported a significant increase in adjusted net profit to $983 million, up 1,246.6% from $73 million in 2023[6]. - The group's profit before tax increased to $858 million in 2024, compared to $244 million in 2023[40]. - The company reported a total comprehensive income for the year ended December 31, 2024, of $858 million, compared to $244 million in 2023, reflecting a significant improvement[109]. - The company reported a net profit of $803 million for the year ended December 31, 2024, compared to $282 million in 2023, marking a significant increase of 184%[66]. Assets and Liabilities - The total assets as of December 31, 2024, amounted to $22,201 million, reflecting a 3.4% increase from $21,464 million in 2023[7]. - Total liabilities rose by $537 million or 5.1% from $10,448 million as of December 31, 2023, to $10,985 million as of December 31, 2024[44]. - Total equity reached $11,216 million in 2024, up from $11,016 million in 2023, indicating a growth of about 1.8%[60]. - Current liabilities surged to $6,759 million in 2024 from $3,719 million in 2023, an increase of approximately 81.7%[62]. - The company’s total liabilities increased to $10,985 million in 2024, compared to $10,448 million in 2023, reflecting a growth of approximately 5.1%[62]. Production and Sales - Aluminum production for the year reached 3,992 thousand tons, a 3.7% increase from 3,848 thousand tons in 2023[4]. - Aluminum sales volume decreased by 7.1% to 3,859 thousand tons in 2024, while the sales of value-added products fell by 8.1% to 1,422 thousand tons, accounting for 37% of total sales[21]. - The average selling price of aluminum increased by 8.6% to $2,590 per ton compared to $2,385 per ton in 2023[4]. - Revenue from external customers in Russia increased to $3,736 million in 2024 from $3,486 million in 2023, a growth of 7.2%[115]. - Revenue from external customers in China rose significantly to $3,706 million in 2024, up 29.9% from $2,855 million in 2023[115]. Costs and Expenses - The total cost of sales decreased by $1,184 million or 11.3% to $9,261 million in 2024, compared to $10,445 million in 2023[28]. - Distribution expenses increased by 12.3% to $848 million in 2024, mainly due to the introduction of new sales channels[30]. - Employee costs increased to $1,091 million from $956 million, reflecting a growth of 14.1%[128]. - The cost of sales for alumina, bauxite, and other materials rose to $5,041 million, an increase of 2.4% from $4,921 million in 2023[120]. Cash Flow - Operating cash flow for the year was $483 million, a decrease of 72.6% from $1,760 million in 2023[8]. - Net cash from operating activities decreased to $483 million in 2024 from $1,760 million in 2023, due to an increase in working capital and provisions to $923 million[45]. - Cash used in investing activities amounted to $1,078 million in 2024, slightly higher than $1,030 million in 2023, indicating a 4.7% increase[69]. - Cash flow from financing activities generated $113 million in 2024, a significant recovery from a cash outflow of $1,747 million in 2023[69]. Geopolitical and Market Conditions - The company is continuously assessing the geopolitical situation and adjusting its supply and sales chains to maintain optimal financial ratios and ensure business continuity[17]. - The geopolitical situation remains unstable, potentially impacting sales channels and supply chain establishment[83]. - Management expects global commodity market prices to rise, improving operational performance[83]. Accounting and Financial Reporting - The financial statements are prepared under the assumption of going concern, with no adjustments made for asset recoverability or liabilities classification[83]. - The company is evaluating the impact of new and revised standards on existing practices, with no significant effects anticipated from recent amendments[89]. - The functional currency of the company is USD, reflecting the economic nature of its operations[94]. - The company is subject to various new accounting standards that will come into effect in the coming years, which may require additional disclosures[90]. Capital Expenditures and Investments - Total capital expenditure for 2024 was $1,366 million, aimed at maintaining existing production facilities[52]. - The company reported a total of $1,121 million in additions to property, plant, and equipment during the year, with significant contributions from construction in progress[186]. - The company recognized a total of $2,624 million in disposals of property, plant, and equipment, indicating a significant reduction in asset base[186]. Impairment and Asset Management - The company reported a significant impairment of non-current assets amounting to $580 million, compared to $321 million in the previous year[122]. - Impairment losses recognized for property, plant, and equipment amounted to $402 million as of December 31, 2024[193]. - The carrying amount of identified assets deemed unrecoverable was $173 million as of December 31, 2024, up from $111 million in 2023[194]. Executive Compensation - The total remuneration for executive directors in the year ending December 31, 2024, amounted to $8,093,000, an increase from $7,818,000 in the previous year[159]. - The highest paid individuals received a total compensation of $20,220,000 in 2024, down from $26,437,000 in 2023, with significant reductions in both salary and retirement plan contributions[164]. - The total remuneration for non-executive directors was $1,671,000 for the chairman and $300,000 for other independent directors in 2024[159].
俄铝(00486) - 2024 - 年度业绩