Qatar Aluminium Manufacturing Company · QSE:QAMC
Qatar Aluminium Manufacturing — Q1 2025 Earnings Presentation
36 slides from Qatar Aluminium Manufacturing's earnings presentation, Mar 31, 2025
Slide 1: Qatar Aluminium Manufacturing Company Investor Relations Presentation
Qatar Aluminium Manufacturing Company Investor Relations Presentation 31 March 2025
Slide 2: Disclaimer
CLASSIFICATION: C1 - CONTROLLED Disclaimer The company in which Qatar Aluminium Manufacturing Company Q.P.S.C. directly owns investment is a separate entity. In this presentation, “QAMCO” and “the Company” are sometimes used for convenience in reference to Qatar Aluminium Manufacturing Company Q.P.S
Slide 3: Table of Content
CLASSIFICATION: C1 - CONTROLLED Table of Content 1. QAMCO at a Glance 2. Ownership structure 3. Operations of joint venture 4. Competitive strengths 5. Peer review 6. Macroeconomic updates 7. QAMCO results (For the period ended 31 Mar. 2025) 8. CAPEX (2025F – 2029F) 9. Market statistics and dividend
Slide 4: QAMCO at a Glance
CLASSIFICATION: C1 - CONTROLLED QAMCO at a Glance 4
Slide 5: QAMCO at a Glance: Overview
CLASSIFICATION: C1 - CONTROLLED QAMCO at a Glance Overview • Qatar Aluminium Manufacturing Company • QatarEnergy provides all of the head office Q.P.S.C (QAMCO) was incorporated on functions for QAMCO through a comprehensive December 3, 2018 and listed on Qatar service-level agreement. Stock Exchang
Slide 6: Ownership structure
CLASSIFICATION: C1 - CONTROLLED Ownership structure 6
Slide 7: Ownership Structure
CLASSIFICATION: C1 - CONTROLLED Ownership Structure QatarEnergy Public (51%) (49%) QAMCO Qatalum Joint Venture (50%) QAMCO holds 50% share of Qatar Aluminium Limited (“Qatalum” or “QAMCO JV” or “JV”) as a joint venture shareholder, which produces high-quality aluminium of more than 650,000 tons per
Slide 8: Operations of Joint Venture
CLASSIFICATION: C1 - CONTROLLED Operations of Joint Venture 8
Slide 9: QAMCO's Joint Venture
CLASSIFICATION: C1 - CONTROLLED QAMCO’s Joint Venture • Qatar Aluminium (Qatalum) is located in Qatar, the company benefits from access to one of the world’s largest and most competitively priced sources of energy which allows it to maintain one of the industry’s most competitive profit margins and
Slide 10: QAMCO's Joint Venture: Sales and Marketing
CLASSIFICATION: C1 - CONTROLLED QAMCO’s Joint Venture Sales and Marketing: • With a Marketing and Offtake Agreement, Hydro Aluminium is responsible for the offtake and marketing of 100% of Qatar Aluminium products. The Marketing and Offtake Agreement gives Qatar Aluminium (Qatalum) access to Hydro A
Slide 11: Competitive strengths
CLASSIFICATION: C1 - CONTROLLED Competitive strengths 11
Slide 12: Competitive Strengths
CLASSIFICATION: C1 - CONTROLLED Competitive Strengths State of the art production facility and technology deployed Low cost Assured feedstock supply and competitively priced energy smelter High focus on Health and Safety and Environment Proven Positive share of operating profit & competitive
Slide 13: Peer review
CLASSIFICATION: C1 - CONTROLLED Peer review 13
Slide 14: QAMCO's Competitive Positioning versus Global Peers
CLASSIFICATION: C1 - CONTROLLED QAMCO’s Competitive Positioning versus Global Peers Gross profit margin (%) EBITDA margin (%) Peer 1 27.2% QAMCO 34.2% QAMCO ranks #1 QAMCO 26.2% QAMCO ranks #2 Peer 1 21.9% Peer 2 20.0% Peer 2 13.3% Peer 3 16.0% Peer 3 12.9% Peer 4 15.6% Peer 4 12.2% Net profit margi
Slide 15: Macroeconomic updates
CLASSIFICATION: C1 - CONTROLLED Macroeconomic updates 15
Slide 16: Macroeconomic Updates
CLASSIFICATION: C1 - CONTROLLED Macroeconomic Updates Aluminium prices ($/MT) Alumina prices ($/MT) 4,500 Aluminium LME spot prices ($/MT) 850 Alumina spot prices ($/MT) 4,000 750 3,500 650 3,000 550 2,500 2,000 450 1,500 350 1,000 250 Dec-20 Dec-21 Dec-22 Dec-23 Dec-24 Mar-25 Dec-20 Dec-21 Dec-22 D
Slide 17: QAMCO results
CLASSIFICATION: C1 - CONTROLLED QAMCO results (For the period ended 31 Mar. 2025) 17
Slide 18: 1Q-25 Results - At a Glance vs. 1Q-24
CLASSIFICATION: C1 - CONTROLLED 1Q-25 Results - At a Glance vs. 1Q-24 Revenue +30% EBITDA +23% Net profit +83% QR 830 million QR 271 million QR 156 million Cost per EBITDA EPS ton +3% Margin vs. 34% QR 0.028 vs. QR 0.015 QR 9,417* 33% ▪ Average aluminum prices have increased year-over-year due to im
Slide 19: Operational Performance Review
CLASSIFICATION: C1 - CONTROLLED Operational Performance Review Production (MT’ 000) – 100% • 1Q-24 vs 1Q-25: Production volumes marginally inched higher compared to last year, due to higher amperage. • 4Q-24 vs 1Q-25: production volumes marginally lower due to lower operating days compared to the pr
Slide 20: Financial Performance Review
CLASSIFICATION: C1 - CONTROLLED Financial Performance Review Share of Revenue (QR million) Net Profit (QR million) • 1Q-24 vs 1Q-25: Share of JV’s revenue increased, driven by • 1Q-24 vs 1Q-25: net income improved due increase in average selling combined effect increase in average selling prices and
Slide 21: Net Profit Variance Analysis: 1Q-25 vs 1Q-24
CLASSIFICATION: C1 - CONTROLLED Net Profit Variance Analysis : 1Q-25 vs 1Q-24 (Amounts in QR’ million) QAMCO reported a robust net profit compared to the same period of last year. Results were aided by JV’s performance mainly due to: Favorable movements a) Higher average realized prices b) Higher
Slide 22: Net Profit Variance Analysis: 4Q-24 vs 1Q-25
CLASSIFICATION: C1 - CONTROLLED Net Profit Variance Analysis : 4Q-24 vs 1Q-25 (Amounts in QR’ million) QAMCO reported marginally lower net profit compared to the previous quarter. Results were impacted by JV’s performance mainly due to: Favorable movements a) Higher average realized prices b) Lowe
Slide 23: Analysis of Average Selling Prices
CLASSIFICATION: C1 - CONTROLLED Analysis of Average Selling Prices Selling prices ($/MT) – 1Q-24 vs 1Q-25 o YoY: Average selling prices higher compared to last year, mainly owing to increase in LME and premiums. 3% o LME Premiums increased mainly on the back of an improved macroeconomic LME environm
Slide 24: Analysis of EBITDA Margins
CLASSIFICATION: C1 - CONTROLLED Analysis of EBITDA Margins Despite macroeconomic volatilities, QAMCO’s JV EBITDA margins continue to remain robust & resilient 4,300 47% 48% Primary Aluminium Price (USD/ton) 46% 45% QAMCO’s JV EBITDA Margins (%) 3,800 43% 41% 41% 3,300 37% 38% 38% 36% 35% 35% 2,800 3
Slide 25: Geographic Analysis – QAMCO JV Revenue
CLASSIFICATION: C1 - CONTROLLED Geographic Analysis – QAMCO JV Revenue Asia remained QAMCO JV’s largest market, while its presence in Europe and US continued to be substantial Europe 26% Qatar North America 4 5% Asia 18% 62% 25 QAMCO, IR Presentation 1Q-25
Slide 26: QAMCO JV Volumes – Product Mix
CLASSIFICATION: C1 - CONTROLLED QAMCO JV Volumes – Product Mix (%) ▪ Foundry alloys along with extrusion ingots (together referred to as value added or premium products) remains key products for QAMCO’s JV. 1Q-25 QAMCO JV Sales 1Q-24 QAMCO JV Sales Volumes – Product mix (%) Volumes – Product mix (%)
Slide 27: Market Statistics and Dividend Distribution
CLASSIFICATION: C1 - CONTROLLED Market Statistics and Dividend Distribution 27
Slide 28: Market Statistics and Dividends
CLASSIFICATION: C1 - CONTROLLED Market Statistics and Dividends 16.00 Market Cap (QR Billion) 14.00 12.00 10.00 ~ QAR 7 bn 8.00 6.00 4.00 2.00 - Mar-21 Apr-21 May-21 Jul-21 Mar-22 Apr-22 May-22 Jul-22 Mar-23 Apr-23 May-23 Jul-23 Mar-24 Apr-24 May-24 Jul-24 Mar-25 Jan-21 Jun-21 Jun-22 Feb-21 Oct-21 J
Slide 29: CAPEX (2025-2029)
CLASSIFICATION: C1 - CONTROLLED CAPEX (2025-2029) 29
Slide 30: CAPEX (2025-2029) – QAMCO's Share
CLASSIFICATION: C1 - CONTROLLED CAPEX (2025-2029) – (QAMCO’s Share) CAPEX: o Planned CAPEX (2025-29) include routine operations such as pot relining and other maintenance pertaining to power plant and anode plant. CAPEX Overview (QAR m) 2025B 2026F 2027F 2028F 2029F Pot-relining 65 104 119 97 45 CAP
Slide 31: Historical Performance (2020 - 2024)
CLASSIFICATION: C1 - CONTROLLED Historical Performance (2020 - 2024) 31
Slide 32: Key Performance Indicators
CLASSIFICATION: C1 - CONTROLLED Key Performance Indicators Production (MT’000) – 100% Sales Volumes (MT’000) – 100% Selling Prices ($ / MT) 666 • 2024 production remained highest since QAMCO’s incorporation. • 2024 recorded the highest sales volumes since inception. • Average selling prices remained
Slide 33: Governance Structure
CLASSIFICATION: C1 - CONTROLLED Governance Structure 33
Slide 34: Governance Structure
CLASSIFICATION: C1 - CONTROLLED Governance Structure Board structure Board committees • QAMCO Board of Directors consists of six (6) • The Board of Directors established Board Directors, all were appointed by the Special Committees and Special Committees to carry Shareholder “QatarEnergy”. out speci
Slide 35: Governance Structure
CLASSIFICATION: C1 - CONTROLLED Governance Structure Remuneration Shareholders’ rights Board of Directors • The Company’s Articles of Associations provide for • The Company has developed a periodically the rights of shareholders, particularly the rights to revisited remuneration policy for Board mem
Slide 36: THANK YOU
THANK YOU For further information, Qatar Aluminium Manufacturing Company can be contacted as follows: Telephone: (+974) 4013 2277 Fax: (+974) 4013 9750 E-mail: qamco.investorrelations@qataenergy.qa or qamco@qataenergy.qa Address: P. O. Box 3212, Doha, State of Qatar. Please refer to www.qamco.com.qa
Qatar Aluminium Manufacturing Company — Q1 2025 Earnings Presentation on 6ix