'SMA Solar Technology AG' confirmed its preliminary fiscal year 2025 results, reporting a 0.9% year-on-year revenue decline to €1.516 billion and widening losses amid difficult market conditions. Including one-off effects, 'EBITDA' fell to a negative €65.4 million, while 'EBIT' losses more than doubled to negative €188.2 million. The downturn was heavily driven by the 'Home & Business Solutions' segment, which suffered from €122.6 million in inventory writedowns, falling prices, and weak demand. In contrast, the 'Large Scale & Project Solutions' division saw revenue grow nearly 8% to €1.268 billion, recording a profit of €210.8 million. Looking ahead, 'SMA' confirmed its 2026 guidance, projecting revenue between €1.475 billion and €1.675 billion.

[Aptiv’s 2025 Results Hit a Record High, with Full-Year Revenue of $20.4 Billion] Recently, Aptiv released its 2025 financial results, with full-year revenue, adjusted operating income, and adjusted earnings per share all reaching record highs. Revenue reached $20.4 billion, up 3% YoY; adjusted operating income was $2.461 billion, adjusted EBITDA was $3.228 billion, and diluted earnings per share excluding special items reached $7.82.

SMM Morning Meeting Minutes: Overnight, LME copper opened at $12,843/mt, fluctuated downward in early trading to a low of $12,722/mt, then rose in a stepwise manner and climbed to $12,987/mt near the close, finally settling at $12,964.5/mt, down 0.92%. Trading volume reached 40,500 lots, and open interest reached 307,000 lots, down 4,847 lots from the previous trading day, mainly due to long position reductions. Overnight, the most-traded SHFE copper 2704 contract opened at 100,530 yuan/mt, then fluctuated downward to a low of 100,200 yuan/mt. Subsequently, the center of copper prices gradually moved higher and hit a high of 101,530 yuan/mt near the close, finally settling at 101,330 yuan/mt, down 1.05%. Trading volume reached 92,000 lots, and open interest reached 194,000 lots, down 3,792 lots from the previous trading day, mainly due to long position reductions.

Emirates Global Aluminium (EGA) released its 2025 performance report, showing that in 2025, the company's net profit (excluding GAC data) increased by 16% to US$1.34 billion, and core profit increased by 7% to US$2.53 billion, mainly due to the rise in the average real price of aluminum and the increase in total sales volume. EGA's EBITDA in 2025 was AED 9.28 billion (US$2.53 billion), compared to AED 8.69 billion (US$2.37 billion) in 2024. In 2025, EGA's foundry metal production reached a record high of 2.84 million tons, up from 2.77 million tons in 2024. In 2025, EGA's sales volume of low-carbon aluminum products increased by 70%, reaching approximately 196,000 tons.

February 25, 2026— AMG Critical Materials Inc. announced adjusted EBITDA of $235 million for the year 2025, representing a 40% increase from $168 million in 2024, primarily driven by strong performance in its antimony and engineering businesses. The company concluded the year with a robust balance sheet, highlighted by total liquidity of $484 million as of December 31, 2025. The refinery in Bitterfeld has continued to ramp up its production, producing in specification battery-grade lithium hydroxide and progressing with customer qualification as planned.AMG has dispatched kilogram samples to all cathode active materials (CAM) manufacturers with a footprint in Europe at the end of 2025, initiating the first stage of qualification. Based on customer feedback, it is anticipateed that it will move on to the next stage of qualification involving the shipment of tons in the first half of 2026, and expect to reach full production capacity in the second half of 2026. AMG Lithium is starting engineering on a 5,000-ton lithium carbonate to lithium hydroxide conversion plant at its Bitterfeld site. This plant will be designed to accept recycled lithium carbonate, and convert it to technical-grade hydroxide for use in Bitterfeld’s main upgrading facility. The plant’s capital cost is expected to be $50 million, and as announced in December 2025, 20% of the costs of the plant will be supported by a funding grant from the German Federal Ministry for Economic Affairs and Energy. The fourth quarter 2025 adjusted EBITDA decreased 87% compared to the fourth quarter of 2024, primarily due to the lower lithium concentrate volumes in the current quarter and higher mining costs related to poor quality ore. Full year 2025 adjusted EBITDA decreased from $24 million to $12 million, driven primarily by the 16% decrease in annual average lithium prices in 2025 compared to 2024, as well as the lower lithium concentrate sales volumes in the current period. During the fourth quarter of 2025, a total of 28,326 dry metric tons (“dmt”) of lithium concentrates were sold, 84% more than the 15,409 dmt in the third quarter of 2025, but 15% less than the 33,492 dmt in the fourth quarter of 2024. During the quarter, poor quality ore caused recoveries to drop, reducing production volumes. During 2025, a total of 69,180 dmt of lithium concentrates were sold, 22% less than the 88,966 dmt in 2024, due primarily to the failure of one piece of equipment in the second quarter of 2025 associated with our expansion project. The average realized sales price was $689/dmt CIF China for the fourth quarter of 2025, and the average realized sales price for the year was $632/dmt CIF China. The average cost per ton for the current quarter was $489/dmt CIF China. The average cost per ton increased from $290/dmt in the fourth quarter of 2024 due to the lower volumes and higher cost of mining activities in the current quarter. The average cost per ton for full year 2025 was $488/dmt CIF China compared to $458/dmt CIF China for 2024.

Spanish stainless steel giant Acerinox S.A. has seen a surge in interest from US investors following resilient earnings and a confirmed dividend strategy. As the parent company of Kentucky-based North American Stainless (NAS), Acerinox is being positioned as a strategic "sleeper play" for its exposure to high-value special alloys critical to EV supply chains, data centers, and industrial reshoring. While the company remains a traditional cyclical player, its shift toward high-margin specialty products and a disciplined capex approach has allowed it to maintain solid EBITDA despite weak European demand. For US portfolios, it offers a diversified global alternative to domestic names like Nucor or Cleveland-Cliffs.

EDP Renovaveis (EDPR) reported a 50% year-on-year increase in recurring net profit to €330 million for 2025, driven by a strategic pivot toward low-risk markets in the US and Europe. Recurring EBITDA rose 17% to €1.97 billion, beating its annual guidance. Despite robust operations—with generation up 11%—reported net income was weighed down by non-recurring charges, including impairments in Europe and the repowering of the Meadow Lake IV wind farm in the US. The company forecast a further EBITDA rise to €2.1 billion for 2026.

Spanish utility Endesa SA surpassed its 2025 guidance with an 18% rise in ordinary net profit to €2.35 billion, driven by robust conventional generation and gas margins. Despite an 8.7% EBITDA increase to €5.76 billion, the company's renewable division struggled due to lower wind and solar volumes. Looking ahead, Endesa’s new 2026-2028 strategic plan signals a tactical shift; the utility intends to reduce overall renewable spending and pivot its generation mix toward wind power and energy storage, citing limited growth potential for solar in the current market environment.

Spanish energy giant Iberdrola SA achieved a 12% year-on-year increase in net profit for 2025, reaching €6.29 billion. While lower energy prices in Europe weighed on its production and retail divisions, the company’s strategic shift toward power networks paid off, with regulated asset growth driving a 20.5% EBITDA surge in that sector. Supported by €14.46 billion in total investments, Iberdrola successfully offset market volatility. Looking forward, the utility anticipates continued growth from global electrification, forecasting net profits to exceed €6.6 billion in 2026.

For the full year, Century generated net sales of USD 2.53 billion, up 13.96 per cent from approximately USD 2.22 billion in 2024. Higher realised aluminium prices and stronger regional premiums helped offset weaker shipment volumes. On revenue alone, the year suggested steady footing. For the full year 2025, shipments of primary aluminum decreased by 5%. The company shipped 647,112 tonnes in 2025 compared to 677,967 tonnes in 2024. Reported net income attributable to Century stockholders came in at USD 41.8 million — a USD 295 million decline from the prior year (USD 336.8 million in 2024). Strip away those one-offs, and the picture shifts. Adjusted net income reached USD 253.8 million, more than doubling from USD 101.4 million in 2024. Adjusted EBITDA climbed to USD 425.1 million.