Business
Algoma Steel Group Inc. Reports Financial Results for the Three and Twelve Months Ended December 31, 2025
Blast Furnace Shutdown Completed; Fully Transitioned to EAF Steelmaking Fourth Quarter Results In-Line with Previously Announced Expectations SAULT STE.
About this update from Algoma Steel Group Inc.
[{"type":"text","content":"Blast Furnace Shutdown Completed; Fully Transitioned to EAF Steelmaking Fourth Quarter Results In-Line with Previously Announced Expectations SAULT STE. MARIE, Ontario, March 11, 2026 (GLOBE NEWSWIRE) -- Algoma Steel Group Inc. (NASDAQ: ASTL; TSX: ASTL) (“Algoma” or “the Company”), a leading Canadian producer of steel plate and hot rolled sheet products, today announced results for the three and twelve month periods ended December 31, 2025. Unless otherwise specified, all amounts are in Canadian dollars. Business Highlights and 2025 to 2024 Fourth Quarter Comparisons Consolidated revenue of $455.0 million, compared to $590.3 million in the prior-year quarter.Consolidated loss from operations of $449.7 million, compared to a loss of $124.8 million in the prior-year quarter.Net loss of $364.7 million, compared to net loss of $66.5 million in the prior-year quarter.Adjusted EBITDA loss of $95.2 million and Adjusted EBITDA margin of (20.9%), compared to a loss of $60.3 million and (10.2%) in the prior-year quarter (see “Non-GAAP Measures” below).Cash flows used in operating activities of $3.0 million, compared to a use of $76.9 million in the prior-year quarter.Shipments of 378,533 tons, compared to 548,802 tons in the prior-year quarter. Business Highlights and 2025 to 2024 Full Year Comparisons As previously reported, the Company has changed its fiscal year end from March 31 to December 31, resulting in a transitional nine month fiscal reporting period ending December 31, 2024. In order to present full year comparisons, the Company has compiled the 12 months ended December 31, 2024 by adding the nine month period ended December 31, 2024 to the 3 month period ended March 31, 2024. Consolidated revenue of $2,085.7 million, compared to $2,461.7 million in the prior-year.Consolidated loss from operations of $1,326.2 million, compared to a loss from operations of $217.8 million the prior-year.Net loss of $984.9 million, compared to net loss of $139.0 million in the prior-year.Adjusted EBITDA loss of $261.4 million and Adjusted EBITDA margin of (12.5%), compared to Adjusted EBITDA gain of $22.4 million and Adjusted EBITDA margin of 0.9% in the prior-year (see “Non-GAAP Measures” below).Cash flows used in operating activities of $66.1 million, compared to cash flows generated by operating activities of $82.3 million in the prior year.Shi...