Aluar Aluminio Argentino (ALUA) Q3 24/25 earnings summary

Executive summary

• 9M FY24/25 net income was $52.7bn, down from $166.2bn YoY; lower operating income was driven by higher alumina costs, weaker export FX realization and higher export duties.

• Revenue was $1.151tn versus $1.190tn YoY; operating income was $127.4bn versus $225.5bn.

Financial highlights

• Gross profit was $191.4bn, down from $242.1bn YoY; cost of sales was $959.7bn versus $948.2bn.

• Financial result was a $4.5bn loss versus a $13.3bn loss YoY; income tax expense rose to $69.9bn from $46.0bn.

• Consolidated assets were $2.629tn at Mar. 31, 2025, versus $2.591tn at Jun. 30, 2024; equity was $1.535tn.

• Operating cash flow was $1.2bn versus $49.0bn YoY; investing used $197.4bn and financing generated $51.5bn.

Outlook and guidance

• Primary aluminum operations were at full capacity; export volumes were expected to remain broadly steady at usual destinations, subject to U.S. tariff effects.

• International aluminum prices were near $2,400/t at the reporting date, after averaging near $2,600/t in Q1 2025; prices remain highly uncertain and volatile.

• Local policy progress on fiscal balance and inflation had yet to restore industrial competitiveness; product demand remained markedly lower, despite uneven signs of broader economic recovery.

• Futaleufú hydro concession and energy-sale contract expire Jun. 15, 2025; an extension of up to one year is possible, and authorities were approached to extend supply arrangements on similar terms.