Brazil-based Companhia Brasileira de Alumínio’s (CBA) aluminium sales in Q1 2020 (Jan-March) rose by 3pc to 93,000mt from 90,000mt in the prior-year quarter. Upstream aluminium sales amounted to 68,000mt of the total sales volumes and downstream sales stood at 25,000mt. The COVID-19 outbreak had a limited impact on their Q1 2020 operations, the company said.
CBA posted net revenue of BRL1,253mn, of which aluminium sales revenue stood at BRL1,054mn, down by 1.59pc from the prior-year quarter due to challenging market conditions. The company also stated that global demand fell on the back of COVID-19 related lockdowns. Transportation and construction sectors were severely affected in the period. Adjusted EBITDA fell by 32pc to BRL116mn from BRL171mn.
The company refrained from providing 2020 outlook as COVID-19 due to difficulties in estimations with uncertain conditions ahead.