Financial Performance - Revenue for 2024 was $12,082 million, a decrease of 1.1% from $12,213 million in 2023[8] - Adjusted EBITDA for 2024 was $1,494 million, significantly up from $786 million in 2023, reflecting an EBITDA margin of 12.4%[8][9] - Adjusted net profit for 2024 was $983 million, with an adjusted net profit margin of 8.1%, compared to $786 million and 0.6% in 2023[8] - The adjusted net profit for 2024 was $1,330 million, compared to $702 million in 2023, showing a strong recovery in profitability[9] - The total sales cost has decreased by 3%[50] Production and Capacity - The company produced 4.0 million tons of aluminum in 2024, an increase from 3.8 million tons in 2023[20] - The total assets of the company reached $22,201 million in 2024, up from $21,464 million in 2023[10] - The total rated capacity of the company's aluminum smelters is 4,205 thousand tons, with an overall utilization rate of 95%[83] - The company operates eight alumina refineries with a total rated capacity of 16,949 thousand tons, achieving a utilization rate of 38%[86] - The company operates seven bauxite mines with a total rated capacity of 22,000 thousand tons and an overall utilization rate of 89%[89] Environmental Initiatives - The company aims to reduce greenhouse gas emissions per ton of metal produced by at least 23% by 2035 and by at least 47% by 2050 compared to 2018 levels[32] - The company is focused on enhancing high-value-added products and maintaining its position as a low-carbon footprint aluminum producer[47] - 100% of Rusal's aluminum production meets low carbon aluminum standards, with a total of 8.7 million verified carbon units from five climate protection projects[51] - The company has committed to sustainable development principles, emphasizing resource efficiency and promoting a circular economy[150] - The company has reported no significant environmental pollution incidents at any of its locations or facilities as of December 31, 2024[159] Strategic Projects and Investments - The BEMO project includes a 3,000 MW hydropower plant and an aluminum smelter with an annual capacity of 292,000 tons, indicating significant expansion plans[30] - The company has completed a strategic investment in Hebei Wenfeng, a Chinese alumina producer, to enhance raw material independence[48] - The company is developing a new inert anode electrolysis design aimed at achieving the lowest carbon footprint globally, with 5,300 tons of aluminum produced using this technology[25] - The company plans to expand primary aluminum production capacity and downstream production, including aluminum wheel production[119] - The company is developing battery materials, specifically through a joint project with Rosatom on the Kolmozerskoye lithium deposit and establishing a battery technology center in St. Petersburg[118] Compliance and Governance - The compliance system has been certified according to ISO 37301:2021 and ISO 37001:2016, with the company rated AAA+ for anti-corruption measures[166] - The company has implemented a new conflict of interest policy in 2024 to mitigate corruption risks[161] - The company has established an internal compliance committee to enhance compliance risk control and ensure adherence to regulatory obligations[163] - The company has trained employees on compliance policies, particularly focusing on sanctions and corruption risks in 2024[162] - The company has received the highest ESG ratings, including an "A-" rating from the China market ESG rating agency[126] Social Responsibility and Community Engagement - In 2024, the company plans to implement significant social investment projects focused on enhancing urban attractiveness and social effects[170] - The company has established priority social investment areas for 2024-2026 based on employee feedback and current social investment needs[171] - A total of 2,119 corporate volunteers participated in environmental activities, planting 3,009 trees and shrubs across 22 cities[173] - The company raised 1,850,120 rubles through various charitable activities involving local communities and businesses[173] - The company signed 20 social and economic cooperation agreements with municipal and regional authorities, totaling 3.1 billion rubles, funding over 90 projects valued at more than 584.5 million rubles[183] Safety and Operational Efficiency - The company achieved a lost time injury rate of approximately 0.15 per 200,000 hours worked in 2024, matching the previous year's rate and remaining below the global aluminum industry average of 0.26[193] - The company emphasizes constructive dialogue with stakeholders to address safety production and industrial safety issues[191] - The company aims for zero fatalities by 2030 as part of its industrial safety strategy adopted in September 2022[193] - The company successfully implemented a new RA-550 electrolyzer at Sayanogorsk aluminum smelter, achieving energy consumption below 12,800 kWh per ton and fluoride emissions below 0.15 kg per ton[198] - The RA-550 electrolyzer design improvements are expected to reduce refractory material costs by 40% to 60% and increase production efficiency by 50%[198]
俄铝(00486) - 2024 - 年度财报