Century Aluminum in 2024: Steady net sales, increased net income and 5-year high production signal key turning point
Century Aluminum Company, a global primary aluminium producer with operations in the United States and Iceland, has posted about its booming year ended December 31, 2024, with a new 5-year high record production at Sebree, steady net sales, and increased net income amid surging energy costs and raw material prices.
Image source: Century Aluminum
On February 20, 2025, the company released its financial and operational results attributing all the gains to a nonrecurring benefit from a force majeure settlement, recovery from Hurricane Beryl, improved realised metal prices, and flattering Inflation Reduction Act 45X, which was an Advanced Manufacturing Production Credit to promote US production of critical minerals, including primary aluminium. For the entire year, Century reported its net sales amounted to 2.22 billion compared to 2.19 billion in 2023. To the annual net sales of 2024, Q4 contributed 28.42 per cent, having net sales of $631 million versus $539 million in Q3.
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