KOS schreef op 9 januari 2014 22:08:
Alcoa Addresses Legacy Matters
2013 Revenue of $23.0 billion Driven by Value-Add Businesses; Generated Positive Free Cash Flow for Fourth Consecutive Year
Forecasting 7 Percent Growth in Global Aluminum Demand in 2014
4Q 2013 Highlights
• Net loss of $2.3 billion, or $2.19 per share; excluding special items, net income of $40 million, or $0.04 per share
• $1.7 billion in non-cash goodwill impairment tied to legacy smelting acquisitions
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Solid revenue of $5.6 billion, despite 7 percent lower realized aluminum prices year-over-year
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Engineered Products and Solutions fourth quarter record after-tax operating income, up 20 percent year-over-year • Upstream business improves performance for ninth consecutive quarter
• Cash from operations of $920 million, up $706 million sequentially
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Positive free cash flow of $498 million •
Strong liquidity with $1.4 billion cash on hand and the lowest year-end net debt since December 2006 •
Record low 20 days working capital, a year-over-year decrease of 4 days, equal to approximately $240 million of cash Full-Year 2013 Highlights
• Net loss of $2.3 billion, or $2.14 per share
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Excluding special items, net income of $357 million, or $0.33 per share, up 36 percent from 2012 • Revenue of $23.0 billion
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Record results in Engineered Products and Solutions •
Cash from operations of $1.6 billion •
Free cash flow of $385 million; fourth consecutive year of positive free cash flow generation •
$1.1 billion in year-over-year productivity gains • 16 percent of Alcoa global smelting capacity offline