Alcoa loses 211 million in the first quarter

MADRID, 20 Abr.

Alcoa loses 211 million in the first quarter


Alcoa, the largest US aluminum producer, recorded losses for attributable dollars of 231 million dollars (211 million euros) in the first three months of 2023, in contrast to the attributable net profit of 469 million dollars (428 million euros). posted a year earlier by the company.

However, the Pittsburgh multinational highlighted the sequential improvement in its quarterly result after losses of 395 million dollars (360 million euros) between October and December 2022.

In this sense, Alcoa highlighted that its first quarter accounts reflected the positive effect of higher prices for aluminum and alumina and lower energy costs in Europe, as well as the non-recurrence of a tax charge of 217 million dollars. (198 million euros) for deferred taxes from Alcoa Alumínio (Brazil) in the fourth quarter of 2022.

These factors were partially offset downward by charges of $149 million (136 million euros) related to the restructuring of the company, including $101 million (92 million euros) for the permanent closure of the Intalco smelter and others. 47 million dollars (43 million euros) for certain obligations related to the updated agreement for the Spanish smelter of San Ciprián.

Between January and March 2023, Alcoa's turnover decreased by 18.9%, to 2,670 million dollars (2,436 million euros), while the multinational's costs and expenses increased by 12.6% year-on-year, to 2,850 million dollars (2,601 million euros).

"We are making significant progress in stabilizing our operations," said Alcoa Chairman and CEO Roy Harvey.

For the full year 2023, Alcoa expects total shipments of alumina and aluminum to remain unchanged between 12.7 and 12.9 million metric tons, and between 2.5 and 2.6 million metric tons, respectively. .