General statement on the energy market situation

by Philipp Schlüter, CEO of TRIMET Aluminium SE

TRIMET curtailed primary aluminium production at its smelting plants in Essen, Hamburg and Voerde in October 2021. The reason for this is the sharp rise in electricity prices.

As a medium-sized family business, we think long-term. Decisive for our actions is safeguarding our production plants and the jobs that can be found there. The current measures are economically sensible, entrepreneurially necessary and also reasonable for the social situation. The supply of aluminium to our customers is ensured, all existing contracts are being fulfilled and ongoing demand is being met. TRIMET is delivering reliably in the accustomed quality. Our foundries and recycling plants are working to capacity. Jobs are not affected by the measure and short-time work has not been introduced. In order to be able to ramp up production again, we depend on each and every employee.

TRIMET sees itself as a local aluminium producer supplying important industrial value chains with a sustainably produced material. Only about one-third of the aluminium processed in Germany comes from domestic production; the majority is imported from regions outside Europe. This offers us growth potential as a domestic producer.

Current electricity price levels mean that the cost of producing aluminium has risen to such an extent that it is no longer possible to cover costs, much less ensure profitable production.

In view of the continuing distortions on the electricity market and the worsening situation in gas supplies, policymakers and companies must do everything in their power to ensure that enterprises can continue to at least cover their costs. This is the only way to secure jobs in the long term and maintain the supply of all necessary goods to the economy and society.

The current distorted situation on the electricity market is only one part of a major challenge facing society and the economy.

Any consideration of electricity or gas supplies to companies does not concern the interests of individual companies or sectors. It concerns the German industry as a whole, our economy and thus the preservation of prosperity for our citizens and the protection of all needy and socially vulnerable people.