Alumina Ltd. of Australia publishes annual result for 2019: Net profit after tax recorded US$ 326.6 million

Alumina Ltd. Australia, the investor in bauxite mining and alumina refining through Alcoa World Alumina & Chemicals (AWAC), today made public a statutory net profit after tax of US$ 214.0 million for the full-year to 31 December 2019, whereas after excluding significant itineraries, the net profit after tax was US$ 326.6 million.

Mike Ferraro, CEO, Alumina Ltd. said: “This is a strong result, reflecting the Company’s ability to generate impressive returns for shareholders through the cycle. AWAC’s full-year alumina production was a record for the current portfolio and the cash cost of production fell by 7%. The quality of the AWAC assets was demonstrated through its cash margin of US$126 per tonne for the year. Alumina Limited’s free cash flow for the year was US$420 million. The final dividend continues to deliver excellent returns to shareholders.”

“Alumina prices fell during 2019 and stabilized around $280 per tonne early in 2020. Prices rebounded slightly to $300 per tonne last week amid market tightening.”

He also added “Aluminium demand is expected to grow in 2020 as trade friction subsides. This will contribute to a balanced alumina market and China is expected to absorb any surplus rest of world production.”

Copyright and Exemption Declaration :¢ÙAll articles, pictures and videos that are marked with "China Aluminum Network" on this website are copyright and belong to China Aluminium Network (www.alu.com.cn). When transshipment, any media, website or individual must list the source from "China Aluminium Network (www.alu.com.cn)". We seek legal actions against anyone that disobey this. ¢ÚArticles that marked as copy from others are for transferring more information to readers, do not represent or endorse their opinions or accuracy and reliability. When other media, website or individuals copy from our website, must keep the source. Anyone that changes the articles' sources will hold the responsibilities for copyright and law problems. We also seek legal actions against anyone that disobey this. ¢ÛIf any articles copied by our website concern the copyright and other problems, please contact us within one week.