Chalco’s net profit reaches a new high at RMB5.08 billion, buoyed by aluminium price rally

Owing to the increased alumina and aluminium prices and increased output, Aluminium Corp. of China or Chalco's net profit in 2021 was bolstered by 564.6 per cent Y-o-Y  to a 14-year high. In the 12 months ending Dec. 31, 2021, the world's largest alumina producer had a net profit of RMB 5.08 billion ($797 million), more than six times greater than the RMB 764.3 million in 2020.

Every year, earnings per share increased 853 per cent to RMB 0.29 from RMB 0.03 but fell short of Visible Alpha's mean projection of RMB 0.32. Revenue increased 45 per cent year over year to RMB 269.75 billion, above the Visible Alpha consensus forecast of RMB 246.96 billion.

According to Chalco, the company was able to source supply and alter output to limit the impact of power outages and the COVID-19 outbreak, even while Chinese aluminium companies were forced to curtail production because of a power outage.

Chalco's yearly raw material production increased by 11.7 per cent to 16.23 million tonnes, while its aluminium production increased by 4.6 per cent to 3.86 million tonnes, the first increase in three years. The business issued a final cash dividend of RMB 0.032 per share, or RMB 0.03 for every 10 shares, for a total dividend payment of RMB 544.73 billion.