Which Of The World's Top Three Aluminum Companies Will Be The Most Profitable In 2020?
On the evening of March 23, with the disclosure of the 2020 annual report of Chinalco, the world's three largest aluminum companies in 2020 "report cards" have been released. Chinalco, Alcoa or Russia's Rusal, which will be the most profitable company in 2020?
Chinalco
On the evening of March 23, Chinalco disclosed its 2020 annual report. In 2020, the company's operating revenue reached 185.994 billion yuan, down 2.22 percent year-on-year, the report said. Net profit attributable to shareholders of the listed company was RMB 741 million, 13.14% lower than the same period last year. The net profit attributable to shareholders of the listed company after deducting non-recurring gains and losses was 393 million yuan, up 69.14% year on year. The net cash flow generated by operating activities was 14.929 billion yuan, up 18.53% year on year. Chinalco said its revenue in 2020 fell 4.2 billion yuan from the same period last year, mainly due to lower trade.
Alcoa
On January 22, Alcoa, a US stock listed company, released its financial results for the fourth quarter of 2020. According to the financial report, Alcoa's revenue in the fourth quarter of 2020 was $2.392 billion, down 2% year on year. Net loss attributable to the mother was $4 million, compared to a net loss attributable to the mother of $303 million for the same period a year ago. Adjusted earnings per share were 26 cents, compared with a loss of 31 cents per share in the year-ago period. For the full year of 2020, the company's revenue was $9.286 billion, down 11% year on year. Net loss attributable to the mother was $170 million, compared with a net loss attributable to the mother of $1.125 billion in the same period a year earlier. The adjusted loss per share was $1.16, compared with a loss of 99 cents per share a year earlier. The company set annual production records in both bauxite and alumina.
Rusal
Rusal recently released the 2020 performance report, the data shows that the annual revenue of 8.57 billion dollars, down 12%. Full-year adjusted earnings before interest, tax, depreciation and amortisation were $871m, down 9.8 per cent from a year earlier. Full-year adjusted EBITDA margin was 10.2%, compared with 9.90% a year earlier. For the full year, capital expenditure was $897 million, up 5.8% from the previous year. Rusal's 2020 annual earnings fell 20.9% year on year to $759 million from $960 million, mainly due to a significantly lower first-half profit of $124 million. It rebounded to $883 million in the second half, up 163.6% from $335 million in the second half of 2019, but was not able to drive an upward revision for the full year compared to the 2019 profit.
