En+ Group announces 4Q and FY 2021 trading update

Press releases


february, 2022

Stable operational performance supported by strong aluminium price environment.

EN+ GROUP IPJSC (LSE: ENPL; MOEX: ENPG), the world’s largest producer of low-carbon aluminium and independent hydropower, today announces its operational results for the twelve month and three month periods ended 31 December 2021.

Vladimir Kiriukhin, CEO of En+ Group, commented:

“2021 was a successful year for En+ Group in terms of our operational performance. In both segments we saw an increase in demand for our products and this was naturally reflected in pricing. The London Metal Exchange aluminium price again reached levels above USD 3,000/tonne in 4Q 2021. Furthermore, despite the challenging conditions relating to the ongoing COVID-19 pandemic, our performance was supported by our large-scale modernisation programme and the dedicated work of the Сompany's employees.

“In 2021, the Group continued to progress all of our social projects, including the housing programme for our Power segment employees, and launched several new initiatives. In particular, I would like to highlight our new educational projects and scholarship programme. Thanks to these initiatives we are building up a strong pool of future talent for both our Company and the broader industry.

“In addition, En+ Group raised salaries for its employees in Irkutsk, Krasnoyarsk, Nizhny Novgorod and other regions gradually throughout the year. We aim to ensure that salaries at our enterprises are at least 15% higher than the regional average, and this is aligned to the Company's ESG goal of reducing inequality.

“One of the key events of the past year was the completion of the construction of the world’s most advanced low-carbon aluminium production plant, the Taishet Aluminium Smelter (TaAZ) in Siberia. This development further demonstrates, our Metals segment’s commitment to the decarbonisation of its operations and consumer supply chains. The En+ Group Power segment has also made significant progress in line with the Group’s decarbonisation strategy. The “New Energy” HPP modernisation continued apace and five new EV charging stations were opened in the Irkutsk region.”

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