Half Year 2023 Alumina Ltd Earnings Call Transcript
Thank you for standing by, and welcome to the Alumina Limited half year results call. (Operator Instructions).
I would now like to hand the conference over to Mr. Mike Ferraro, Managing Director and CEO. Please go ahead.
Welcome, everyone. Thank you for joining Alumina Limited's presentation of the first half results for 2023. Before I proceed further, please note the disclaimer. Also, please note that all references to dollars refer to U.S. dollars, unless otherwise specified.
Alumina Limited had a difficult first half, recording a net loss after tax of $38.7 million. We have made a net contribution to AWAC of $100.7 million, which was funded by debt. As a result, no dividend will be paid for the first half.
During the first half of 2023, global Alumina producers benefited from lower Alumina Production costs through softening energy prices. Whilst AWAC did see lower costs in part of our portfolio, the impact of lower grade bauxite in WA meant our overall cash
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