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Algoma Steel Group Inc
Algoma Steel Group, Inc. engages in the production of hot and cold rolled steel products. The company is headquartered in Sault Ste. Marie, Ontario. Ltd., is a Canada-based company, which is an integrated producer of hot and cold rolled steel products with its operations located in Canada. The company produces sheet and plate products that are sold primarily to customers in Canada and Midwest United States of America. The firm has a raw steel production capacity of an estimated 2.8 million tons per year. The Company’s mill produces hot rolled sheet steel (HRC) in North America owing in part to its direct strip production complex (DSPC), which is a thin slab caster in North America with direct coupling to a basic oxygen furnace (BOF) melt shop. Algoma delivers its solutions to direct applications in the automotive, construction, energy, defense, and manufacturing sectors. Its subsidiaries include Algoma Steel Holdings Inc., Algoma Steel Inc., Algoma Steel Inc. USA, Algoma Docks GP Inc., Algoma Steel Intermediate Holdings Inc. and Legato Merger Corp.
Algoma Steel Group, Inc. engages in the production of hot and cold rolled steel products. The company is headquartered in Sault Ste. Marie, Ontario. Ltd., is a Canada-based company, which is an integrated producer of hot and cold rolled steel products with its operations located in Canada. The company produces sheet and plate products that are sold primarily to customers in Canada and Midwest United States of America. The firm has a raw steel production capacity of an estimated 2.8 million tons per year. The Company’s mill produces hot rolled sheet steel (HRC) in North America owing in part to its direct strip production complex (DSPC), which is a thin slab caster in North America with direct coupling to a basic oxygen furnace (BOF) melt shop. Algoma delivers its solutions to direct applications in the automotive, construction, energy, defense, and manufacturing sectors. Its subsidiaries include Algoma Steel Holdings Inc., Algoma Steel Inc., Algoma Steel Inc. USA, Algoma Docks GP Inc., Algoma Steel Intermediate Holdings Inc. and Legato Merger Corp.
Challenging Quarter: Algoma Steel reported a difficult Q4 2024, with lower realized steel prices and higher costs leading to declines in revenue, EBITDA, and cash flow compared to last year.
EAF Project On Track: The electric arc furnace (EAF) project remains on schedule and on budget, with first steel production expected in April 2025.
Strong Liquidity: The company ended the quarter with $267 million in cash and $630 million in total liquidity, ensuring funding for ongoing projects.
Tariff Uncertainty: Market conditions remain tough due to trade and tariff tensions, but management expects Canadian government support and believes EAF transition will help long-term competitiveness.
Guidance Lowered: Q1 2025 shipments and adjusted EBITDA are expected to be sequentially lower due to weak demand and a brief blast furnace outage, but recent price increases should benefit future quarters.
Cost Focus: Management is aggressively pursuing cost reductions, with the EAF transition expected to significantly lower operating costs.
