Century's adjusted EBITDA during the second quarter was recorded at $34.2 million, a sequential increase of $9.2 million, driven by favourable global aluminium prices on LME and regional price premiums of $21.8 million, offsetting lower volume of shipments.
Century's gross profit in the June quarter was $20.4 million, up 23.64 per cent from $16.5 million in the March quarter. Operating income also increased sequentially from $1.9 million to $6.4 million.
Century's liquidity position, including cash and cash equivalents was $41.3 million and $301.3 million, respectively.
Century President and CEO Jesse Gary said: "Strong operating performance drove improved financial results in the second quarter and leave us well-positioned to benefit from higher aluminum prices in the third quarter and beyond. Recently announced trade-enforcement actions in the US and EU continue to show the value of Century's production assets in North America and Europe, with direct access to these markets and the ability to offer short, secure supply chains to our valuable customers."
US primary aluminium production shows a 4% monthly rebound in October, but no positive change seen in YTD output
