En+ Group's net profit for 2024 increased to $1.348 billion from $716 million a year earlier. This is stated in the company's message.
Consolidated revenue amounted to $14.649 billion, which is comparable to the result for 2023. Energy segment revenue increased by 7.4% to $3.853 billion due to an increase in total electricity generation and rising prices. Revenue in the metallurgical segment decreased by 1.1% to $12.082 billion, mainly due to lower sales of primary aluminum and alloys.
Adjusted EBITDA increased by 35.7%, reaching $2.927 billion, which was influenced by the US dollar exchange rate and rising aluminum prices on the London Metal Exchange (LME). At the same time, adjusted EBITDA for the energy segment increased to $1.446 billion, and for the metallurgical segment to $1.494 billion.
Generation at the group's hydroelectric power plants increased by 7.1% in 2024 to 73.7 billion kWh, driven by the hydrological environment. Total electricity generation increased by 6.5% and amounted to 90.7 billion kWh.
Aluminum production increased by 3.7% to 3.992 million tons. Alumina production increased by 25.3% to 6.43 million tons due to a strategic investment in the Chinese company Hebei Wenfeng New Materials. At the same time, due to the expansion of sanctions restrictions on the supply of aluminum from the Russian Federation, the volume of aluminum sales decreased by 7.1% to 3.859 million tons.
En+ is a producer of aluminum and electric power. The company combines electric generating assets and aluminum production (through a controlling stake in UC RUSAL), which are the main consumers of En+ hydroelectric power.
The net profit of the En+ group in 2023 decreased by 61.2% to $716 million from $1.85 billion in 2022. Revenue decreased 11.5% to $14.65 billion. Revenue from the metallurgical segment decreased by 12.6% to $12.2 billion, while revenue from the energy segment decreased by 7.7% to $3.59 billion. Adjusted EBITDA fell 30.8% to $2.16 billion.
