有色金属海外季报：凯撒铝业2025Q1加工收入环比减少1.09%至3.63亿美元，净利润环比增长214.29%至2200万美元

Investment Rating - Industry rating: Recommended [4] Core Insights - In Q1 2025, the net sales reached $777 million, a quarter-on-quarter increase of 1.57% and a year-on-year increase of 5.28%, primarily driven by an increase in average selling prices [1][7] - The adjusted net profit for Q1 2025 was $24 million, reflecting a quarter-on-quarter growth of 300% and a year-on-year growth of 140% [2] - The company expects a 5% to 10% growth in consolidated processing revenue for the entire year of 2025, with adjusted EBITDA also projected to increase by 5% to 10% compared to 2024 [6] Revenue by Business Segment - Aerospace/High-Strength Applications: Q1 2025 shipment volume was 56.3 million pounds (25.5 thousand tons), a year-on-year decrease of 10.49%, with net sales of $214.7 million, down 2.63% [3][9] - Packaging Applications: Q1 2025 shipment volume was 130.2 million pounds (59.1 thousand tons), a year-on-year decrease of 8.57%, with net sales of $314.2 million, up 5.40% [3][9] - General Engineering Applications: Q1 2025 shipment volume was 65.1 million pounds (29.5 thousand tons), a year-on-year increase of 12.05%, with net sales of $181.6 million, up 18.69% [3][9] - Automotive Extrusions: Q1 2025 shipment volume was 24 million pounds (10.9 thousand tons), a year-on-year decrease of 9.43%, with net sales of $66.9 million, up 5.35% [3][9] Cash Flow and Liquidity - The adjusted EBITDA for Q1 2025 was $73 million, with cash and cash equivalents amounting to $21 million as of March 31, 2025 [5] - The company announced a quarterly cash dividend of $0.77 per share, payable on May 15, 2025 [5]