2022 Annual Report
Aluminum has become an important enabler of low carbon products and solutions that are better for both the environment and society. We believe the future is made of aluminum—and at CBA this future has been here for years, with ESG commitments spanning our entire production process.
Alennium is a brand-new label that can be stamped on products manufactured with CBA's low-carbon aluminum, produced with 100% renewable electricity. Consumers can now quickly identify products that are helping to build a more sustainable world for everyone in the next millennium.
CBA is an industry-leading producer of low-carbon aluminum, and the only fully vertically integrated aluminum company in Brazil.
More than 500 thousand tons of primary and downstream products per year
R$8.8 billion in net revenue (+5% compared to 2021)
Leverage of 1.05x (1.08x in 2021)
347.3 thousand metric tons of molten aluminum produced
R$1.6 billion in adjusted EBITDA (+6% compared to 2021) 18% (stable vs. 2021)
100% of financial operations carried out with Sustainability criteria, totaling R$ 817 million raised in 2022
2 million tons of bauxite processed
Operation highlights in 2022:
CBA reclaims decommissioned mine sites for use in agricultural activities, and fully integrates them with the surrounding landscape through reforestation. We return the land to landowners in better condition than before it was mined. Using a new and more effective reforestation method, in 2022 CBA planted more than 90,000 large-sized saplings of species native to the Atlantic Forest in reforestation areas.
In 2022 we acquired a 100% equity interest in Alux do Brasil, marking our entry into the secondary aluminum alloy market. At Metalex, we started a new sidewell furnace and continued work on a new scrap treatment line that is due to start operation in mid-2023. In addition, CBA established partnerships to further expand our sources of scrap material during the year.
We restarted Pot room 3 ahead of schedule in 2022, increasing our production capacity while introducing a new technology that minimizes carbon emissions. In addition, our Alumina Refinery currently boasts the lowest greenhouse gas emissions level in the world*.
*According to emissions estimates from the CRU Platform.
As another important milestone in the year, we took over the management of 23 hydroelectric power plants that were previously managed by Votorantim Energia (now renamed Auren) in 6 Brazilian states, including 17 wholly-owned and 6 jointly-owned power plants. These plants have an installed capacity that meets the entire electricity requirement of our Alumínio plant.
We expanded our market share in the building and construction segment with the launch of our Primora brand of aluminum window and door frames. Learn more at cbaprimora.com.br.
90 real estate developments completed with Primora aluminum frame products
20% improvement in the quality index of packaging foils
This program was created to extend our sustainability practices across the wider value chain. In 2022:
100% of strategic suppliers were screened against ESG criteria.
We revised our supplier assessment metrics to include ESG criteria.
Ethics, respect, teamwork and transparency are four values we practice daily to ensure we uphold the highest standards of corporate governance.
CBA has become an ambassador of the 100% Transparency Movement, and has reported on progress toward the five targets proposed by the movement. The initiative, linked to the Global Compact Network Brazil, aims to strengthen transparency and integrity in the corporate world.
Safety as a priority
Social transformation
CBA was the first primary aluminum producer in the world to secure approval of its emissions reduction targets from the Science Based Targets initiative (SBTi), attesting that they are effectively helping to mitigate climate change.
CBA received a Leadership-level score of “A” for its CDP Climate Change disclosures, and a “B” rating for its water resilience disclosures, the highest in the global primary aluminum sector.
CBA and Reservas Votorantim issued the very first carbon credits linked to preserved Cerrado forests. The credits are supported by our Legado Verdes do Cerrado reserve, within our REDD+ Cerrado Program. The first issuance generated 316,000 carbon credits.
A new program to reforest disturbed land in legal reserves or protected areas on smallholder properties.
