Company: CENX
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0000949157-25-000024
Chunk: 74

Company: CENTURY ALUMINUM CO
Filing Date: 2025-03-03
Form: 10-K
Item: Item 7
Chunk 74
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 Approximately 30% of the power is priced at a fixed price with an additional LME-linked component.

Production/Shipment Volumes

Shipment volume is another key determinant of our financial results. Fluctuations in production and shipment volumes, other than through acquisitions or expansions, are generally small period over period. Any adverse changes in the conditions that affect shipment volumes could have a material adverse effect on our results of operations and cash flows. 

The following table sets forth, for the periods indicated, the shipment volumes and revenues for primary aluminum shipments:

SHIPMENTS - PRIMARY ALUMINUM(1)United StatesIcelandTotal TonnesRevenue $ TonnesRevenue $TonnesRevenue $(dollars in millions)2024378,193 $1,074.6 299,774 $793.3 677,967 $1,867.9 2023389,331 $1,139.0 311,349 $827.0 700,680 $1,966.0 2022459,991 $1,650.4 308,700 $1,040.1 768,691 $2,690.5 

(1)Excludes scrap aluminum, purchased aluminum and alumina sales

Results of Operations

Year Ended December 31, 2024 Compared to Year Ended December 31, 2023

Net sales (in millions)20242023Twelve months ended December 31,$2,220.3 $2,185.4 

Net sales: Net sales increased by $34.9 million for the twelve months ended December 31, 2024, compared to the same period in 2023, primarily due to higher third-party alumina sales of $125.5 million attributable to a full year of Jamalco 

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operations and higher LME and regional premium price realizations of $6.0 million. These changes are offset by unfavorable aluminum volume and mix of $96.6 million due to lower shipments from Mt. Holly and Grundartangi and lower realized premiums for value-added products. 

Gross profit (in millions)20242023Twelve months ended December 31,$185.0 $91.9 

Gross profit (loss): Gross profit increased by $93.1 million for the twelve months ended December 31, 2024, compared to the same period in 2023, primarily driven by favorable raw material price realization