Annual Reports

In our main processes – anode production and extrusion ingot production at the remelting centre in the Casthouse – we entered the evaluated year of 2025 with a production plan based on the assumptions that were known at the time, including complex developments in the aluminium market, a shortage of aluminium scrap, declining demand and the generally unfavourable situation in the European industry. Throughout 2025, these factors were also influenced by the unpredictable impact of political decisions on the economies of individual EU countries.

Despite this situation, and the increased number of non-standard operations related to the shutdown of reduction cells, we managed to maintain a high level of occupational health and safety, working safely and without incident in all areas, including the working and living environment.

In the production of extrusion ingots from remelted process scrap from our customers, we struggled with a lack of orders. However, by the end of the year, we had achieved the expected production volume for 2025.

Following consultation with an external customer, we gradually scaled back and then discontinued the production of prebaked anodes in the last quarter. This was due to the technological and technical limitations of our technology, as we were unable to meet the customer’s requirements for the robustness of the anodes despite our best efforts. Nevertheless, we are grateful for this experience, as we have gained valuable knowledge and experience in overcoming challenges and improving processes, thanks in part to the customer’s cooperation and patience. We believe that together, we will be able to put this knowledge to good use in the future.

Three years have passed since the shutdown of primary aluminium production at Slovalco in January 2026. Thanks to shareholders’ continued support and interest in resuming production, we have maintained our expertise and key competencies in a knowledgeable and loyal team of experienced employees during this period. We have taken all the necessary technical and technological steps, set timelines and considered possible scenarios for the eventual resumption of primary aluminium production.

We firmly believe that external influences and conditions will improve and that the situation will develop in our favour, allowing us to implement the prepared plans, start a new journey and continue the nearly 70-year tradition of primary aluminium production by resuming its production in Žiar nad Hronom.

Milan Veselý

Chief Executive Officer