Canadian steel producer Algoma Steel announced its financial and operating results for fiscal 2025.
The company recorded a net loss of C$984.9 million in 2025, up from a net loss of C$139 million in 2024, and posted revenue of C$2.08 billion, down from C$2.46 billion the previous year. In the same year, the company posted an adjusted EBITDA loss of C$261.4 million and an EBITDA margin of 12.5 percent. The company's 2025 shipments were 1.74 million tons, down 14 percent from 2.02 million tons in 2024
Blast furnace operations closed earlier than planned
Accelerating electric arc furnace (EAF) operations coincided with the company's decision to shut down blast furnace and coke operations ahead of the originally planned 2027 date, according to Algoma. year. Production at the blast furnace route ceased shortly after December 31, 2025, and all liquid steel is now produced at the EAF plant. Once the transformation is completed, Algoma said its plant is expected to have an annual raw steel production capacity of approximately 3.7 million tonnes, in line with its production capacity.
The company also noted that the transition is expected to reduce annual carbon emissions by approximately 70 percent compared to pre-EAF levels.
Strategic shift towards sheet metal production
Algoma said that plans to focus on production
