EVgo to Report Second-Quarter 2025 Results on August 5
EVgo Second Quarter 2025 Webcast
When: Tuesday, August 5
Time: 8 a.m. ET (5 a.m. PT)
Live Webcast: https://investors.evgo.com/events-and-presentations
A copy of the press release with the financial results and the presentation discussed during the webcast will be available on the Investor Relations section of EVgo's website prior to the commencement of the webcast. An archive of the webcast will be available for a period of time shortly after the call on the Events & Presentations page in the Investor Relations section of EVgo's website.
About EVgo
EVgo (Nasdaq: EVGO) is one of the nation's leading public fast charging providers. With more than 1,100 fast charging stations across over 40 states, EVgo strategically deploys localized and accessible charging infrastructure by partnering with leading businesses across the U.S., including retailers, grocery stores, restaurants, shopping centers, gas stations, rideshare operators, and autonomous vehicle companies. At its dedicated Innovation Lab, EVgo performs extensive interoperability testing and has ongoing technical collaborations with leading automakers and industry partners to advance the EV charging industry and deliver a seamless charging experience.
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The live webcast and archived replay of the conference call can be accessed on the Investors section of the Company's website at For those unable to access the webcast, the conference call will be accessible domestically or internationally by dialing 877-425-9470 or 201-389-0878, respectively. Upon dialing in, please request to join the Algoma Steel Second Quarter Conference Call. To access the replay of the call, dial 844-512-2921 (domestic) or 412-317-6671 (international) with passcode 13754580. 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These forward-looking statements generally are identified by the words 'believe,' 'project,' 'expect,' 'anticipate,' 'estimate,' 'intend,' 'hope,' 'strategy,' 'future,' 'opportunity,' 'plan,' 'design,' 'pipeline,' 'may,' 'should,' 'will,' 'would,' 'will be,' 'will continue,' 'will likely result,' and similar expressions. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions. Many factors could cause actual future events to differ materially from the forward-looking statements in this document. Readers should also consider the other risks and uncertainties set forth in the section entitled 'Risk Factors' and 'Cautionary Note Regarding Forward-Looking Information' in Algoma's Annual Information Form, filed by Algoma with applicable Canadian securities regulatory authorities (available under the Company's SEDAR+ profile at and with the SEC, as part of Algoma's Annual Report on Form 40-F (available at as well as in Algoma's current reports with the Canadian securities regulatory authorities and SEC. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Algoma assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Non-GAAP Financial Measures To supplement our financial statements, which are prepared in accordance with IFRS® Accounting Standards as issued by the International Accounting Standards Board ('IASB') ('IFRS Accounting Standards'), we use certain non-GAAP measures to evaluate the performance of Algoma. These terms do not have any standardized meaning prescribed within IFRS Accounting Standards and, therefore, may not be comparable to similar measures presented by other companies. Rather, these measures are provided as additional information to complement those IFRS Accounting Standards measures by providing a further understanding of our financial performance from management's perspective. Accordingly, they should not be considered in isolation nor as a substitute for analysis of our financial information reported under IFRS Accounting Standards. Adjusted EBITDA, as we define it, refers to net income (loss) before amortization of property, plant, equipment and amortization of intangible assets, finance costs, interest on pension and other post-employment benefit obligations, income taxes, foreign exchange loss (gain), finance income, carbon tax, changes in fair value of warrant, earnout and share-based compensation liabilities, share-based compensation related to the Company's Omnibus Long Term Incentive Plan, certain inventory write-downs and legal settlement. Adjusted EBITDA margin is calculated by dividing Adjusted EBITDA by revenue for the corresponding period. Adjusted EBITDA is not intended to represent cash flow from operations, as defined by IFRS Accounting Standards, and should not be considered as alternatives to net profit (loss) from operations, or any other measure of performance prescribed by IFRS Accounting Standards. Adjusted EBITDA, as we define and use it, may not be comparable to Adjusted EBITDA as defined and used by other companies. We consider Adjusted EBITDA to be a meaningful measure to assess our operating performance in addition to IFRS Accounting Standards. It is included because we believe it can be useful in measuring our operating performance and our ability to expand our business and provide management and investors with additional information for comparison of our operating results across different time periods and to the operating results of other companies. Adjusted EBITDA is also used by analysts and our lenders as a measure of our financial performance. In addition, we consider Adjusted EBITDA margin to be a useful measure of our operating performance and profitability across different time periods that enhance the comparability of our results. However, these measures have limitations as analytical tools and should not be considered in isolation from, or as alternatives to, net income, cash flow from operations or other data prepared in accordance with IFRS Accounting Standards. Because of these limitations, such measures should not be considered as measures of discretionary cash available to invest in business growth or to reduce indebtedness. We compensate for these limitations by relying primarily on our IFRS Accounting Standards results using such measures only as supplements to such results. See the financial tables below for a reconciliation of net income (loss) to Adjusted EBITDA. About Algoma Steel Group Inc. Based in Sault Ste. Marie, Ontario, Canada, Algoma is a fully integrated producer of hot and cold rolled steel products including sheet and plate. Driven by a purpose to build better lives and a greener future, Algoma is positioned to deliver responsive, customer-driven product solutions to applications in the automotive, construction, energy, defense, and manufacturing sectors. Algoma is a key supplier of steel products to customers in North America and is the only producer of discrete plate products in Canada. Its state-of-the-art Direct Strip Production Complex ('DSPC') is one of the lowest-cost producers of hot rolled sheet steel (HRC) in North America. Algoma is on a transformation journey, modernizing its plate mill and adopting electric arc technology that builds on the strong principles of recycling and environmental stewardship to significantly lower carbon emissions. Today Algoma is investing in its people and processes, working safely, as a team to become one of North America's leading producers of green steel. As a founding industry in their community, Algoma is drawing on the best of its rich steelmaking tradition to deliver greater value, offering North America the comfort of a secure steel supply and a sustainable future. Algoma Steel Group Inc. Condensed Interim Consolidated Statements of Financial Position (Unaudited) As at, June 30, 2025 December 31, 2024 expressed in millions of Canadian dollars Assets Current Cash $ 82.5 $ 266.9 Restricted cash 0.1 0.1 Taxes receivable 116.0 84.3 Accounts receivable, net 253.6 227.6 Inventories 736.3 879.2 Prepaid expenses and deposits 30.3 42.8 Other assets 5.0 5.5 Total current assets $ 1,223.8 $ 1,506.4 Non-current Property, plant and equipment, net $ 1,705.8 $ 1,662.7 Intangible assets, net 0.4 0.5 Other assets 15.6 16.6 Total non-current assets $ 1,721.8 $ 1,679.8 Total assets $ 2,945.6 $ 3,186.2 Liabilities and Shareholders' Equity Current Bank indebtedness $ 16.4 $ 0.4 Accounts payable and accrued liabilities 348.4 319.1 Taxes payable and accrued taxes 54.5 41.6 Current portion of other long-term liabilities 3.5 3.2 Current portion of governmental loans 25.0 25.0 Current portion of environmental liabilities 3.7 4.2 Warrant liability 16.8 52.2 Earnout liability 6.2 10.1 Share-based payment compensation liability 23.4 34.5 Total current liabilities $ 497.9 $ 490.3 Non-current Senior secured lien notes $ 473.5 $ 498.4 Long-term governmental loans 133.1 133.6 Accrued pension liability 178.3 178.3 Accrued other post-employment benefit obligation 203.5 206.2 Other long-term liabilities 26.9 26.7 Environmental liabilities 35.5 33.3 Deferred income tax liabilities 103.8 110.9 Total non-current liabilities $ 1,154.6 $ 1,187.4 Total liabilities $ 1,652.5 $ 1,677.7 Shareholders' equity Capital stock $ 975.5 $ 974.8 Accumulated other comprehensive income 366.5 439.6 (Deficit) retained earnings (48.1) 102.0 Contributed deficit (0.8) (7.9) Total shareholders' equity $ 1,293.1 $ 1,508.5 Total liabilities and shareholders' equity $ 2,945.6 $ 3,186.2 Algoma Steel Group Inc. Condensed Interim Consolidated Statements of Net (Loss) Income (Unaudited) Three months ended June 30, Six months ended June 30, 2025 2024 2025 2024 expressed in millions of Canadian dollars, except for per share amounts Revenue $ 589.7 $650.5 $ 1,106.8 $1,271.1 Operating expenses Cost of sales $ 643.8 $633.8 $ 1,269.9 $1,219.2 Administrative and selling expenses 31.0 29.2 61.9 61.3 Loss from operations ($ 85.1) ($12.5) ($ 225.0) ($9.4) Other (income) and expenses Finance income ($ 2.5) ($5.4) ($ 5.3) ($6.6) Finance costs 18.5 16.4 36.3 26.1 Interest on pension and other post-employment benefit obligations 3.9 5.4 7.9 10.3 Foreign exchange loss (gain) 31.5 (6.8) 32.4 (22.6) Other income - - (50.0) - Change in fair value of warrant liability 4.6 (15.6) (34.5) (30.9) Change in fair value of earnout liability 1.3 (2.5) (3.1) (5.9) Change in fair value of share-based compensation liability 5.1 (5.8) (10.3) (10.6) $ 62.4 ($14.3) ($ 26.6) ($40.2) (Loss) income before income taxes ($ 147.5) $1.8 ($ 198.4) $30.8 Income tax recovery (36.9) (4.3) (63.3) (3.3) Net (loss) income ($ 110.6) $6.1 ($ 135.1) $34.1 Net (loss) income per common share Basic ($ 1.02) $0.06 ($ 1.24) $0.31 Diluted ($ 1.02) ($0.07) ($ 1.28) $0.02 Algoma Steel Group Inc. Condensed Interim Consolidated Statements of Cash Flows (Unaudited) Three months ended June 30, Six months ended June 30, 2025 2024 2025 2024 expressed in millions of Canadian dollars Operating activities Net (loss) income ($ 110.6) $6.1 ($ 135.1) $34.1 Items not affecting cash: Depreciation of property, plant and equipment and intangible assets 38.2 33.2 73.2 68.0 Deferred income tax expense (recovery) 0.5 (5.3) (1.5) (10.5) Pension funding in excess of expense (3.3) (1.9) (5.1) (3.1) Post-employment benefit funding in excess of expense (1.7) (1.7) (3.4) (3.8) Unrealized foreign exchange loss (gain) on: accrued pension liability 9.1 (2.4) 9.3 (8.1) post-employment benefit obligations 10.8 (2.3) 11.0 (8.1) Finance costs 18.5 16.4 36.3 26.1 Loss on disposal of property, plant and equipment - 1.1 - 1.6 Interest on pension and other post-employment benefit obligations 3.9 5.4 7.9 10.3 Other income - - (50.0) - Accretion of governmental loans and environmental liabilities 5.1 3.9 9.1 11.7 Unrealized foreign exchange loss (gain) on government loan facilities 8.1 (1.3) 8.3 (4.7) Increase (decrease) in fair value of warrant liability 4.6 (15.6) (34.5) (30.9) Increase (decrease) in fair value of earnout liability 1.3 (2.5) (3.1) (5.9) Increase (decrease) in fair value of share-based compensation liability 5.1 (5.8) (10.3) (10.6) Other 7.7 1.2 12.3 0.2 ($ 2.7) $28.5 ($ 75.6) $66.3 Net change in non-cash operating working capital (70.1) (15.8) 95.3 68.3 Environmental liabilities paid (0.1) (0.2) (0.5) (0.9) Insurance proceeds for operating expenses 35.0 - 35.0 - Cash (used in) generated by operating activities ($ 37.9) $12.5 $ 54.2 $133.7 Investing activities Acquisition of property, plant and equipment ($ 97.4) ($98.3) ($ 224.4) ($218.7) Insurance proceeds for property damage 15.0 - 15.0 - Cash used in investing activities ($ 82.4) ($98.3) ($ 209.4) ($218.7) Financing activities Bank indebtedness advanced (repaid), net $ 16.1 $0.0 $ 16.0 ($5.1) Senior secured lien notes issued, net of underwriter fees - 472.6 - 472.6 Transaction costs on senior secured lien notes - (4.1) - (4.1) Governmental loans received 16.3 14.5 16.3 30.0 Repayment of governmental loans (6.2) (2.5) (12.5) (5.0) Interest paid (23.4) (0.1) (24.5) (0.2) Dividends paid (14.8) - (14.8) (7.1) Other (0.7) (0.5) 1.5 (0.9) Cash (used in) generated by financing activities ($ 12.7) $479.9 ($ 18.0) $480.2 Effect of exchange rate changes on cash ($ 11.0) $1.4 ($ 11.2) $3.5 Cash (Decrease) increase in cash (144.0) 395.5 (184.4) 398.7 Opening balance 226.5 97.9 266.9 94.7 Ending balance $ 82.5 $493.4 $ 82.5 $493.4 Algoma Steel Group Inc. Reconciliation of Net (Loss) Income to Adjusted EBITDA Three months ended June 30, Six months ended June 30, millions of dollars 2025 2024 2025 2024 Net (loss) income ($ 110.6) $6.1 ($ 135.1) $34.1 Depreciation of property, plant and equipment and amortization of intangible assets 38.2 33.2 73.2 68.0 Finance costs 18.5 16.4 36.3 26.1 Interest on pension and other post-employment benefit obligations 3.9 5.4 7.9 10.3 Income tax recovery (36.9) (4.3) (63.3) (3.3) Foreign exchange loss (gain) 31.5 (6.8) 32.4 (22.6) Finance income (2.5) (5.4) (5.3) (6.6) Inventory adjustments (depreciation on property, plant and equipment in inventory) 0.5 6.4 1.5 2.5 Carbon tax 10.4 9.5 13.9 15.9 Increase (decrease) in fair value of warrant liability 4.6 (15.6) (34.5) (30.9) Increase (decrease) in fair value of earnout liability 1.3 (2.5) (3.1) (5.9) Increase (decrease) in fair value of share-based payment compensation liability 5.1 (5.8) (10.3) (10.6) Share-based compensation 3.6 1.1 7.4 2.3 Adjusted EBITDA (i) ($ 32.4) $37.7 ($ 79.0) $79.3 Net (loss) income Margin (18.8 %) 0.9 % (12.2 %) 2.7 % Net (loss) income / ton ($ 234.3) $12.1 ($ 143.5) $35.7 Adjusted EBITDA Margin (ii) (5.5 %) 5.8 % (7.1 %) 6.2 % Adjusted EBITDA / ton ($ 68.6) $74.9 ($ 83.9) $83.1 (i) See "Non-IFRS Financial Measures" in this Press Release for information regarding the limitations of using Adjusted EBITDA. (ii) Adjusted EBITDA Margin is Adjusted EBITDA as a percentage of revenue.
