Aluar Aluminio Argentino (ALUA) Q4 24/25 earnings summary

Executive summary

• Puerto Madryn primary aluminum operated at full capacity; utilization was 96.8% and liquid output reached 445,327 tonnes, up 1,820 tonnes YoY.

• Consolidated revenue was $1,562.4bn vs $1,723.8bn; operating income $131.9bn vs $287.2bn; total net income $13.1bn vs $168.9bn, in closing pesos.

• Net income attributable to shareholders was $7.5bn vs $170.2bn; EPS was $2.68 vs $60.77.

Financial highlights

• Gross profit was $231.7bn vs $323.5bn; consolidated net sales declined from $1,723.8bn to $1,562.4bn in closing pesos.

• Separate net sales were $1,528.8bn, down 10.5% in constant currency; export billings rose 11.9% to $931.8m, on 326,888 tonnes, up 1.6%.

• Operating cash flow was $44.0bn vs $148.8bn; investment cash outflow rose to $349.0bn from $47.9bn, mainly reflecting capital investment.

• Consolidated assets were $2,815.7bn and total liabilities $1,229.4bn at June 30, 2025; cash and equivalents were $98.9bn.

Outlook and guidance

• Domestic shipments are expected to remain near FY25 levels, while export volumes are expected to remain broadly stable; pricing and premiums remain exposed to trade-policy volatility.

• The primary smelter is expected to continue at full capacity; FY26 results will depend materially on local and international conditions.

• Aluminum recovered above $2,600/tonne at the start of FY26; alumina prices averaged 30% below the preceding quarter and were stable near FY-end levels.

• The 336 MW wind expansion is on schedule for completion in Q4 2026, taking total nominal wind capacity to 582 MW.