April 20, 2014 4:16 PM ET

Metals and Mining

Company Overview of Aleris Corporation

Company Overview

Aleris Corporation manufactures and sells aluminum rolled and extruded products primarily in North America, Europe, and China. The company operates through Rolled Products North America, Rolled Products Europe, Rolled Products Asia Pacific, Extrusions, Recycling and Specification Alloys North America, and Recycling and Specification Alloys Europe. It offers rolled aluminum and coated products for the building and construction, distribution, transportation, and consumer durables sectors; and for aerospace plate and sheet, brazing sheet, automotive sheet, and heat treated plate for engineering uses, as well as for the packaging industries. The company also provides soft and hard alloy extruded...

25825 Science Park Drive

Suite 400

Cleveland, OH 44122

United States

Founded in 1985

7,200 Employees

Phone:

216-910-3400

Fax:

216-910-3650

Key Executives for Aleris Corporation

Chairman
Age: 54
Chief Financial Officer and Senior Vice President
Age: 39
Vice President of Operations
Age: 52
Executive Vice President and Chief Executive Officer of Rolled Products North
Age: 46
Executive Vice President and Chief Executive Officer of Europe & Asia Pacific
Age: 56
Compensation as of Fiscal Year 2013.

Aleris Corporation Key Developments

Aleris To Sell Recycling And Specification Alloys Businesses

Aleris Corporation is evaluating the potential sale of its Recycling and Specification Alloys businesses. "While the businesses remain steady and profitable with excellent long-term growth potential, we are always reviewing our operations to ensure that Aleris is optimizing the value of its portfolio," said Aleris Chairman and Chief Executive Officer, Steve Demetriou. Aleris may choose to retain the business after a comprehensive review.

Aleris Mulls Acquisitions

Aleris Corporation said that it expects to increase earnings, and from which it typically would expect to be able to realize significant operational efficiencies within 12 to 24 months through the integration process. It will continue to consider strategic alternatives on an ongoing basis, including having discussions concerning potential acquisitions and divestitures that may be material.

Aleris Corporation Reports Consolidated Unaudited Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2013; Provides Earnings Guidance for the Full Year of Fiscal 2014

Aleris Corporation reported consolidated unaudited earnings results for the fourth quarter and full year ended December 31, 2013. For the quarter, the company reported revenues were $1,021.4 million against $1,020.2 million a year ago. Operating loss was $11.0 million against income of $13.5 million a year ago. Loss before income taxes was $40.4 million against $6.7 million a year ago. Net loss attributable to Aleris Corporation was $29.0 million or $0.93 diluted per share against $6.9 million or $0.30 diluted per share a year ago. Net cash provided by operating activities was $49.2 million against $60.4 million a year ago. Payments for property, plant and equipment was $55.5 million against $104.7 million a year ago. Adjusted EBITDA was $26.1 million against $45.0 million a year ago. EBITDA was $21.6 million against $37.1 million a year ago. For the year, the company reported revenues were $4,332.5 million against $4,412.4 million a year ago. Operating income was $66.2 million against $186.8 million a year ago. Loss before income taxes was $38.7 million against income $132.4 million a year ago. Net loss attributable to Aleris Corporation was $37.1 million or $1.20 diluted per share against income of $107.5 million or $3.08 diluted per share a year ago. Net cash provided by operating activities was $31.9 million against $152.5 million a year ago. Payments for property, plant and equipment was $238.3 million against $390.2 million a year ago. Adjusted EBITDA was $236.2 million against $293.6 million a year ago. EBITDA was $187.7 million against $270.1 million a year ago. The company provided earnings guidance for the full year of fiscal 2014. The company estimates first quarter 2014 segment income and adjusted EBITDA will be sequentially higher than the fourth quarter of 2013 and lower than the first quarter of 2013. Factors influencing anticipated first quarter 2014 performance include while higher build rates are anticipated in the future, aircraft manufacturers are looking to shed excess plate inventories before increasing buying patterns to meet the longer term increase in demand associated with record backlogs; demand for autobody sheet is expected to continue to increase along with higher regional European demand, which should drive further profitability and partially offset the impact of lower aerospace volume; the difficult North American winter is expected to have a negative impact on volume and scrap availability in the first quarter of 2014; and low LME prices will keep pressure on scrap and metal spreads and the volatility associated with the Midwest premium is disrupting customer order patterns in the first quarter of 2014. Capital expenditures during the first quarter of 2014 are expected to be lower than the fourth quarter of 2013 as the company returns to more normalized levels. The company currently estimates capital spending of $165 million in 2014.

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
February 10, 2014
Nichols Aluminum, LLC
 

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