Aluminum Corporation of China (2600) Q3 2024 earnings summary

Executive summary

• Revenue for January–September 2024 was RMB 173.78 billion, down 7.76% year-over-year, while net profit attributable to shareholders surged 68.46% to RMB 9.02 billion, driven by higher profits from primary aluminum and alumina products.

• Basic earnings per share for the nine-month period rose 69.90% year-over-year to RMB 0.525.

Financial highlights

• Q3 2024 revenue reached RMB 63.06 billion, up 16.04% compared to Q3 2023.

• Net profit attributable to shareholders in Q3 was RMB 2.00 billion, up 3.34% year-over-year.

• Net cash flow from operating activities for the first three quarters increased 15.76% year-over-year to RMB 23.62 billion.

• Total assets as of September 30, 2024, stood at RMB 214.25 billion, up 1.18% from year-end 2023.

• Owner's equity attributable to shareholders rose 11.64% to RMB 67.50 billion.

Segment performance

• Output of primary aluminum (including alloys) increased 14.00% year-over-year to 5.62 million tonnes for January–September 2024.

• Output of refined alumina rose 14.84% to 3.25 million tonnes, while metallurgical-grade alumina output grew 0.88%.

• Exported volume of self-produced primary aluminum increased 13.36% year-over-year.