Press Metal group chief executive officer Tan Sri Paul Koon Poh Keong
KUALA LUMPUR: Press Metal
Aluminium Holdings Bhd said the impact of the U.S. administration’s 25% tariff on aluminium imports remains uncertain, despite an initial rise in aluminium prices.
“At this stage, it is too early to determine the long-term impact on global metal flows and regional pricing as the market awaits further clarity. Nevertheless, our direct exposure to the US market remains minimal.
“On the other hand, we see growing opportunities for low-carbon aluminium producers in Southeast Asia, driven largely by alternative sourcing and manufacturing relocations to the region,” group chief executive officer Tan Sri Paul Koon said in a statement.
In the fourth quarter ended Dec 31, 2024, Press Metal’s net profit rose 38.5% to RM445.3mil compared with RM321.4mil in the year-ago quarter, translating into an earnings per share of 5.40 sen against 3.90 sen previously.
Net profit for the quarter climbed marginally to RM3.56bil from RM3.53bil a year prior.
For the full financial year ending Dec 31, 2024, the largest aluminium smelter in Southeast Asia delivered its highest-ever revenue and profit after tax and minority interests (Patami) to date.
It posted a net profit of RM1.76bil, up 44.9% from RM1.21bil while revenue climbed 8% to RM14.9bil against RM13.8bil achieved previously.
The company also declared a fourth interim dividend of 1.75 sen per share payable on March 28, bringing the total dividend declared in respect of FY24 to RM576.77mil or approximately 33% of Patami.
Koon said elevated alumina prices posed a major challenge for aluminium producers in 2024. While prices have started to ease, he noted that risks remain, particularly in bauxite sourcing due to policy changes.
“In response, Press Metal is increasing its leverage on upstream alumina assets and strengthening vertical integration capabilities to strengthen resilience against market uncertainties and mitigate raw material price volatilities, aiming to optimise operational margins,” he added.
