Century Aluminium posts a 2% quarterly growth in shipments in Q4 2019; Net sales decreased by 1%

Century Aluminium, on Friday, February 21, announced a 2 per cent quarterly rise in primary aluminium shipments in Q4 2019 and 8 per cent year-on-year growth in the whole of 2019. In Q4, the shipments totalled at 202,870 tonnes compared with 198,543 tonnes in Q3, while that in the entire 2019 came in at 811,244 tonnes in comparison with 749,850 tonnes.

 The company also mentioned that its net sales in Q4 decreased by 1 per cent from $438 million in Q3 to $435.5 million, primarily attributing to lower LME prices partially offset by higher volume and product premiums. In the whole year also, net sales decreased by 3 per cent from $ 1,893.2 million in 2018 to $1,836.6 million.

Century’s net loss in Q4 2019 was $4.8 million or $0.05 per share, while that in the whole year $80.8 million or $0.91 per share. Adjusted EBITDA in Q4 and full year of 2019 stood at $13.3 million and $31.2 million, respectively.

Michael Bless, President and Chief Executive Officer, said the company’s operations are in good order, as safety performance has remained admirable at all plants. He also said that this outcome in 2019 was possible only because of the tremendous amount of commitment and hard work by all the staff of the company.

According to him, the company’s production and operations were at the expected level throughout the year. All plants achieved excellent controllable cost control during the fourth quarter.

At Hawesville, the restart of the fourth potline is nearly complete, on schedule and budget, and by the end of the Q1 2020, the production at the plant is expected to reach eighty per cent of the capacity.

“At Mt. Holly, we have had encouraging progress on the path to full market power, the achievement of which would support an immediate decision to rebuild and restart the second potline and return the plant to full capacity,” concluded Michael Bless.

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