Q4 2025 Companhia Brasileira de Aluminio Earnings Call Transcript
Key Points
- Companhia Brasileira de Aluminio SA (BSP:CBAV3) registered a 37% growth in pro forma adjusted EBITDA compared to the previous quarter.
- The company participated in COP 30, highlighting aluminum's role in energy transition and low-carbon economy.
- Votorantim signed an agreement to sell its stake in CBA to Chalco and Rio Tinto, pending legal and regulatory approval.
- The global aluminum market showed resilience with a slight surplus, driven by strong demand in China.
- The price of aluminum on the LME reached its highest value in three years, averaging $2,827 per tonne in the quarter.
- The company faced increased production costs, with liquid aluminum costs rising 6% from the previous quarter.
- Energy generation was 3% lower due to seasonality, impacting cost efficiency.
- The recycling segment saw a decline, attributed to the self-construction sector's specific challenges.
- The cost of alumina increased due to higher sodium soda prices and energy costs.
- The company's leverage ratio increased to 2.97 times, driven by reduced accumulated EBITDA over the last 12 months.
Good morning, everyone. Welcome to one more earnings call at CBA for the fourth quarter of 2025. I'm Amabile, the Investor Relations Manager at CBA. This call also has Luciano Alves present, the company's CEO; and Camila Abel, the company's CFO. We'd like to let you know that this event is being recorded.
(Event Instructions) The company's presentation will be available on the company's Investor Relations website. We will also be providing the company's the event recording upon closing.
Before proceeding, we'd like to clarify that some of the statements in this presentation may include statements about our expectations, about future events or results, which depend materially on general economic, political and business conditions in Brazil and the global markets and existing and future government regulations, among other factors.
Operational data may affect CBA's future performance and may lead to results that differ materially from those expressed in such forward-looking considerations and
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