Financials Aluminum Corporation of China Limited

Equities

Delayed Hong Kong S.E. Other stock markets 03:08:07 2024-12-05 am EST			5-day change	1st Jan Change
4.740 ^HKD	-0.84%		-1.46%	+21.54%

Nov. 20	Chalco Plans to Acquire Chinalco High-end Manufacturing's Slab Ingots Assets	MT
Nov. 20	Chalco Terminates Subsidiary Asset, Equity Transfer Proposals	MT

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	190,074	185,994	269,748	290,988	225,071	236,959	240,343	243,958
Change	-	-2.15%	45.03%	7.87%	-22.65%	5.28%	1.43%	1.5%
EBITDA ¹	14,991	13,659	21,907	23,561	25,301	38,891	41,041	43,061
Change	-	-8.89%	60.39%	7.55%	7.39%	53.71%	5.53%	4.92%
EBIT ¹	6,455	6,023	13,409	13,682	15,296	27,188	29,557	30,612
Change	-	-6.7%	122.64%	2.04%	11.79%	77.75%	8.71%	3.57%
Interest Paid ¹	-4,720	-4,194	-3,667	-3,505	-2,972	-2,288	-2,160	-1,679
Earnings before Tax (EBT) ¹	2,114	2,155	10,179	13,209	15,091	24,937	27,655	29,018
Change	-	1.96%	372.29%	29.77%	14.24%	65.25%	10.9%	4.93%
Net income ¹	851	741	5,080	4,192	6,717	11,983	12,585	13,549
Change	-	-12.93%	585.5%	-17.47%	60.24%	78.4%	5.02%	7.65%
Announcement Date	3/26/20	3/23/21	3/22/22	3/21/23	3/27/24	-	-	-

¹CNY in Million

Estimates

Fiscal Period: December	2019 Q4	2020 Q1	2020 Q2	2020 Q3	2020 Q4	2021 Q1	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4
Net sales ¹	44,366	39,666	44,443	49,046	52,840	52,614	68,122	74,193	74,819	75,621	69,782	60,669	84,916	66,279	67,783	54,342	36,666	48,956	61,762	63,060	71,603
Change	-	-10.59%	12.04%	10.36%	7.74%	-0.43%	29.47%	8.91%	0.84%	1.07%	-7.72%	-13.06%	39.97%	-21.95%	2.27%	-19.83%	-32.53%	33.52%	26.16%	2.1%	13.55%
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
EBIT ¹	-234.1	-	-	1,119	803.3	2,039	4,678	4,172	318.1	2,953	5,386	1,514	5,095	3,379	-	5,120	2,091	4,745	9,209	4,706	7,036
Change	-	-100%	-	-	-28.19%	153.87%	129.4%	-10.82%	-92.38%	828.21%	82.41%	-71.9%	236.64%	-33.69%	-100%	-	-59.17%	126.96%	94.09%	-48.9%	49.52%
Charge d'intérêts	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Earnings before Tax (EBT) ¹	63.23	218.5	173.8	952.9	810	2,003	4,027	4,078	70.02	2,880	4,077	1,411	4,841	3,448	3,272	4,339	4,032	4,792	8,177	4,572	5,597
Change	-	245.57%	-20.44%	448.17%	-14.99%	147.34%	101.02%	1.25%	-98.28%	4,013.39%	41.55%	-65.4%	243.19%	-28.79%	-5.1%	32.62%	-7.09%	18.86%	70.64%	-44.09%	22.42%
Net income ¹	42.63	30.72	4.994	416.1	289.2	966.7	-	-	-227.9	-	2,414	577.5	-375	-	-	1,936	1,364	2,230	4,786	2,000	1,706
Change	-	-27.94%	-83.74%	8,231.26%	-30.48%	234.24%	-100%	-	-	-100%	-	-76.08%	-	-100%	-	-	-29.51%	63.45%	114.6%	-58.21%	-14.7%
Announcement Date	3/26/20	4/28/20	8/27/20	10/27/20	3/23/21	4/27/21	8/24/21	10/26/21	3/22/22	4/26/22	8/23/22	10/25/22	3/21/23	4/25/23	8/22/23	10/25/23	3/27/24	4/25/24	8/28/24	10/29/24	-

¹CNY in Million

Estimates

Fiscal Period: December	2020 S1	2020 S2	2021 S1	2021 S2	2022 S1	2022 S2	2023 S1	2023 S2	2024 S1	2024 S2	2025 S1	2025 S2
Net sales ¹	84,109	101,886	120,736	149,012	145,403	145,585	134,063	91,008	110,718	118,301	101,550	113,040
Change	-	21.14%	18.5%	23.42%	-2.42%	0.13%	-7.91%	-32.12%	21.66%	6.85%	-14.16%	11.31%
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-	-	-	-	-
EBIT ¹	-	-	6,718	5,891	8,339	6,609	8,085	9,558	13,954	12,404	6,338	6,664
Change	-	-	-	-12.31%	41.57%	-20.75%	22.34%	18.22%	45.99%	-11.11%	-48.91%	5.15%
Charge d'intérêts	-	-	-	-	-	-	-	-	-	-	-	-
Earnings before Tax (EBT)	-	-	-	-	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-	-	-	-	-
Net income	-	-	-	-	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-	-	-	-	-
Announcement Date	8/27/20	3/23/21	8/24/21	3/22/22	8/23/22	3/21/23	8/22/23	3/27/24	8/28/24	-	-	-

¹CNY in Million

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	93,771	73,329	69,424	55,561	37,382	39,050	19,442	6,016
Change	-	-21.8%	-5.33%	-19.97%	-32.72%	4.46%	-50.21%	-69.06%
Announcement Date	3/26/20	3/23/21	3/22/22	3/21/23	3/27/24	-	-	-

¹CNY in Million

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
CAPEX ¹	7,953	5,039	2,136	4,664	6,519	12,984	12,891	10,523
Change	-	-36.64%	-57.62%	118.41%	39.77%	99.16%	-0.72%	-18.37%
Free Cash Flow (FCF) ¹	3,382	9,842	26,095	23,142	20,331	21,622	26,828	29,193
Change	-	191.02%	165.13%	-11.32%	-12.14%	6.35%	24.08%	8.82%
Announcement Date	3/26/20	3/23/21	3/22/22	3/21/23	3/27/24	-	-	-

¹CNY in Million

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Profitability
EBITDA Margin (%)	7.89%	7.34%	8.12%	8.1%	11.24%	16.41%	17.08%	17.65%
EBIT Margin (%)	3.4%	3.24%	4.97%	4.7%	6.8%	11.47%	12.3%	12.55%
EBT Margin (%)	1.11%	1.16%	3.77%	4.54%	6.7%	10.52%	11.51%	11.89%
Net margin (%)	0.45%	0.4%	1.88%	1.44%	2.98%	5.06%	5.24%	5.55%
FCF margin (%)	1.78%	5.29%	9.67%	7.95%	9.03%	9.12%	11.16%	11.97%
FCF / Net Income (%)	397.43%	1,328.26%	513.72%	552.06%	302.69%	180.43%	213.17%	215.47%
Profitability
ROA	0.42%	0.37%	2.62%	-	3.17%	6.87%	7.24%	7.45%
ROE	1.59%	1.36%	9.09%	6.9%	12.02%	17.9%	16.57%	15.35%
Financial Health
Leverage (Debt/EBITDA)	4.63x	5.37x	3.17x	2.36x	1.82x	1.09x	0.63x	0.16x
Debt / Free cash flow	20.54x	7.45x	2.66x	2.4x	2.26x	1.82x	0.86x	0.21x
Capital Intensity
CAPEX / Current Assets (%)	4.18%	2.71%	0.79%	1.6%	2.9%	5.57%	5.48%	4.42%
CAPEX / EBITDA (%)	53.05%	36.89%	9.75%	19.8%	25.77%	35.94%	34.87%	27.85%
CAPEX / FCF (%)	235.14%	51.2%	8.18%	20.15%	32.06%	60.05%	48.05%	36.05%
Items per share
Cash flow per share ¹	0.7328	0.87	1.658	-	1.559	1.787	2.112	2.008
Change	-	18.72%	90.62%	-	-	14.62%	18.17%	-4.95%
Dividend per Share ¹	-	-	0.032	-	0.08	0.1453	0.161	0.1669
Change	-	-	-	-	-	81.66%	10.78%	3.64%
Book Value Per Share ¹	3.668	3.19	3.364	-	3.523	4.371	4.879	5.594
Change	-	-13.02%	5.45%	-	-	24.07%	11.62%	14.66%
EPS ¹	0.037	0.028	0.286	0.239	0.39	0.7	0.7038	0.7502
Change	-	-24.32%	921.43%	-16.43%	63.18%	79.48%	0.55%	6.6%
Nbr of stocks (in thousands)	17,022,673	17,022,673	17,022,673	17,161,592	17,161,592	17,156,499	17,156,499	17,156,499
Announcement Date	3/26/20	3/23/21	3/22/22	3/21/23	3/27/24	-	-	-