Financial Performance - The company's revenue for 2021 was $11,994 million, a significant increase from $8,566 million in 2020, representing a growth of 40.5%[9] - Adjusted EBITDA for 2021 reached $2,893 million, with an adjusted EBITDA margin of 24.1%, compared to 10.2% in 2020[9] - Net profit for 2021 was $3,225 million, resulting in a net profit margin of 26.9%, up from 8.9% in the previous year[9] - The total assets of the company increased to $20,906 million in 2021, up from $17,378 million in 2020[9] - The company’s net debt decreased to $4,749 million in 2021 from $5,563 million in 2020, indicating improved financial health[9] - The company reported total revenue of $1,421 million, with an increase in capital expenditures of $295 million and a decrease in dividends from associates and joint ventures by $550 million compared to the previous period[151] - The aluminum segment generated revenue of $9,102 million with a production volume of 3,590 thousand tons, while the alumina segment generated $2,649 million with a production volume of 7,554 thousand tons for the year ended December 31, 2021[153] - The aluminum segment's EBITDA was $3,139 million, reflecting an EBITDA margin of 34.5%, while the alumina segment reported an EBITDA of $113 million with a margin of 4.3%[153] Production and Operations - The company produced 1.8 million tons of alumina in 2021, but production was temporarily halted in March 2022 due to logistical challenges in Ukraine[4] - The company’s core smelting operations are strategically located near hydropower plants, meeting approximately 93% of its total electricity needs with renewable energy[14] - The company’s bauxite and nepheline syenite mining operations supply 77% of its alumina refining needs, ensuring a stable raw material supply[15] - The company operates 11 aluminum smelters, with 9 located in Russia, indicating a strong operational presence in the region[23] - The total aluminum production capacity across the company's smelters is 4,205 thousand tons, with an average capacity utilization rate of 90%[44] - The company operates nine alumina refineries with a total rated capacity of 13,908 thousand tons and an average utilization rate of 81%[50] - The company manages seven bauxite mines with a total rated capacity of 20,600 million tons and an average utilization rate of 73%[52] - The company has a diversified sales network, delivering aluminum products to key markets including Europe, the USA, and Southeast Asia[18] Environmental Sustainability - In 2021, the company maintained its position as a leading low-carbon aluminum producer, with a commitment to reduce greenhouse gas emissions by at least 35% by 2030 and achieve net-zero emissions by 2050[33] - The company is committed to environmental management and regularly reviews its policies to improve sustainability practices across all production facilities[19] - The company has reduced its corporate emissions by nearly 35%, industrial wastewater discharges by 60%, and freshwater consumption by over one-third due to implemented environmental measures[38] - The company emphasizes its commitment to sustainability and reliable low-carbon aluminum supply, aiming to lead the industry towards a greener future[33] - The company has established several strategic partnerships with organizations aiming to use low-carbon aluminum in their supply chains, successfully integrating ALLOW low-carbon aluminum into their operations[33] - The company has received high sustainability ratings, including an A- rating in the CDP climate ranking for the aluminum industry in 2021[78] - The company is focused on achieving the lowest carbon footprint, successfully producing aluminum with the lowest carbon footprint globally using inert anodes[82] Technological Advancements - The company has developed new energy-efficient smelting technologies RA-500 and RA-550, aiming to become the most energy-efficient technology in the industry[16] - The company achieved a significant reduction in operational costs by 10% through the introduction of inert anode technology, which also reduces greenfield project costs by over 30%[16] - The RA-550 electrolytic cell has been successfully piloted, achieving energy efficiency below 12,800 kWh/ton and a current efficiency of 96%[79] - The new RA-550 electrolytic cell design reduces the amount of used lining material by 80% and the number of linings and costs by 10-15%[79] - The company is developing the RA-800+ electrolytic cell, which aims to have the highest performance globally[79] - The company has successfully certified 13 production facilities under the ASI performance standards, enhancing its commitment to sustainable practices[78] Market Trends and Demand - Global aluminum demand increased by 8.8% year-on-year to 69.0 million tons in 2021, with demand in other regions rising by 12.8% to 28.6 million tons and China's demand increasing by 6.1% to 40.4 million tons[99] - The construction sector accounted for the largest portion of global aluminum demand, growing by 5% in 2021 compared to the previous year, and 3% compared to pre-pandemic levels in 2019[99] - The packaging industry saw a 9% growth in aluminum demand in 2021, continuing from a stable demand in 2020[99] - The global sales of pure electric and plug-in hybrid vehicles surged over 70% in 2021, with China's electric vehicle sales skyrocketing by 154%[99] Social Responsibility and Community Engagement - The company allocated over 45 million USD for social investment and charitable projects in 2021[95] - The "Easy Help" volunteer program allocated over 5.1 million rubles in funding, with an additional 4 million rubles from partners, supporting 60 projects across 14 cities[95] - The "Green Wave" environmental volunteer project provided over 3.9 million rubles in funding, benefiting 44 projects in 22 regions[95] - The company aims to invest 826 million rubles in social projects, focusing on the construction and modernization of social infrastructure and public recreational spaces[93] Employee Development and Safety - The total number of employees increased from 53,976 in 2020 to 57,933 in 2021, representing a growth of approximately 7.3%[170] - The company continued to develop its "New Generation" apprenticeship program, employing 213 apprentices in 2021[176] - The company has established a comprehensive employee incentive system, focusing on monetary compensation based on skills, complexity, and performance[171] - The lost time injury rate for 2021 was 0.18, a decrease from 0.20 in 2020, but still above the global average for the aluminum industry[169] Governance and Management - The company has adopted a corporate governance code based on the Hong Kong Stock Exchange Listing Rules, ensuring compliance and transparency in its operations[155] - The management team has no direct or indirect shareholding in the company as of the end of the fiscal year 2021[195][196] - The board is committed to implementing best practices in financial disclosure and governance, as evidenced by Burnham's initiatives at the United Nations[198] - The leadership team emphasizes collaboration and knowledge sharing to drive operational improvements and strategic initiatives[195][196]
俄铝(00486) - 2021 - 年度财报