Alumina says Alcoa Corp’s quarterly EBITDA sees increase

Company News

by Rachael Jones

Alumina (ASX:AWC) says Alcoa Corp’s quarterly earnings release with adjustments to the EBITDA due to increase in shipments due to higher tonnes produced.

Alcoa operates the largest integrated bauxite mining, alumina refining and aluminium smelting system.

Alumina Limited’s CEO, Mike Ferraro, says a $9 a tonne drop in the cost of alumina production also contributed to an Adjusted EBITDA for the Alumina Segment of $683 million. Compared to $660 million at the same corresponding period last year.

Bauxite sales saw an improvement primarily due to higher sales to both internal and third party customers partially offset by slightly higher energy costs.

Shares in Alumina (ASX:AWC) are trading 3.49 per cent higher at $2.37.
 

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.