Investor Presentaiton
Competitive primary aluminium cash cost
.
Primary aluminium cash cost 2022
•
All-in implied primary aluminium cash cost 1,2) USD 2 375 per mt
.
•
•
LME implied primary aluminium cash cost 1,3) USD 1 575 per mt
Alumina
.
Purchases based on alumina index ~93%
Purchased based on LME link ~7% (only for Qatalum)
Power
Long-term contracts
•
3/4 of power need from renewable power
•
Contracts with a mix of indexations; inflation, LME, coal, fixed
Liquid aluminium cash cost 20223)
•
Carbon
Majority of contracts are based on 1-2 years, quarterly pricing
23%
•
Fixed costs
Maintenance, labor, services and other
•
Other
•
Other direct costs and relining
6%
10%
1) Adjusted EBITDA margin excluding indirect CO2 compensation catch-up effect (NOK -1.4 billion) and power sales Slovalco, Albras and Norwegian smelters
2) Realized LME aluminium price (incl.strategic hedges) plus premiums minus adjusted EBITDA margin, including Qatalum, per mt primary aluminium sold
3) Realized LME aluminium price (incl. strategic hedges) minus adjusted EBITDA margin, including Qatalum, per mt primary aluminium produced
4) Pie chart based on cost of producing liquid aluminium, not directly comparable to the LME or All-in implied primary aluminium cash cost
25%
Alumina
Power
Carbon
36%
■Fixed cost
Other
Hydro
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