Century Aluminum : First Quarter 2025 Earnings Conference Call

Published: 2025-05-08 06:17:20 ET CENX

Published on 05/08/2025 at 06:17

1st Quarter Earnings Call

May 7, 2025

Jesse Gary - President and Chief Executive Officer

Peter Trpkovski - EVP, Chief Financial Officer and Treasurer

Company and Market Update

Industry

Fundamentals

Strong LME environment continues; MWP benefit to U.S. operations more than offsets EDPP decline in Europe

Alumina prices return to normalized levels following supply tightness at year end

Global aluminum inventory levels fall further to only 46 days

Costs

Energy prices increased in Q1 mainly due to polar vortex in the U.S.; Q2 Indy Hub prices ~15% lower QTD

Sebree to undertake one-time major overhaul in carbon plant during Q2 to improve reliability

Redomiciled U.S. supply chain where necessary; no material cost increases expected from tariffs

Operations

Jamalco refinery produced highest quarterly volume since acquisition; continued focus on cost improvements

Grundartangi returned to full production levels in March following minor power curtailment

Polar vortex impact in South Carolina resulted in emergency energy charges at Mt. Holly

Financials

Recorded $78MM in Q1 Adjusted EBITDA

Net debt reduced to $442 million in Q1; robust liquidity of $339MM

Partial benefit of increased Section 232 tariff realized in Q1; expecting higher MWP moving forward

3,400

3,200

3,000

2,800

2,600

2,400

2,200

2,000

1,800

1,600

1,400

MWP

EDPP

Q121 Q221 Q321 Q421 Q122 Q222 Q322 Q422 Q123 Q223 Q323 Q423 Q124 Q224 Q324 Q424 Q424 Q125 Q225 Q325 Q425

Indy Hub

0

Germany & France

Century power market

Q121 Q221 Q321 Q421 Q122 Q222 Q322 Q422 Q123 Q223 Q323 Q423 Q124 Q224 Q324 Q424 Q125 Q225 Q325 Q425

Regional Premiums $/MT

Regional Premiums

Section 232 tariff rate

increased to 25%

effective March 12

300

1,000

900

800

700

600

500

400

300

200

100

-

250

200

150

100

50

4

Power Rates $/MWh

Q121 Q221 Q321 Q421 Q122 Q222 Q322 Q422 Q123 Q223 Q323 Q423 Q124 Q224 Q324 Q424 Q125 Q225 Q325 Q425

LME $/MT

Q121

Q221 Q321 Q421 Q122 Q222 Q322 Q422 Q123 Q223 Q323 Q423 Q124 Q224 Q324 Q424 Q125 Q225 Q325

Q425

750

700

650

600

550

500

450

400

350

300

250

200

150

API $/MT

1) Source: CRU Group, Century Aluminum Company

Disclaimer

Century Aluminum Company published this content on May 08, 2025, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on May 08, 2025 at 10:16 UTC.