Alcoa reports higher Q4 income
PERTH (miningweekly.com) - Aluminium major Alcoa has moved back into the black, reporting an income of $242-million for the fourth quarter of 2012, compared with the loss of $143-million in the previous three months.
For the 2012 full year, Alcoa reported an income of $191-million, compared with the $614-million reported in 2011, with the miner attributing the decline to a 12% decline in the year-on-year realised aluminium price.
Revenue for the full year was also down 5% on the previous financial year, to $23.7-billion, while revenue for the fourth quarter was up 1% to $5.9-billion, compared with the third quarter.
Alcoa noted that despite the low aluminium prices, the company generated full-year income and met all its cash sustainability targets for the fourth consecutive year, ending 2012 in a strong cash position.
“Alcoa hit record profitability in our mid- and downstream businesses, and continued to drive efficiency in our upstream businesses in the fourth quarter, all while cutting debt and maintaining our cash position,” said chairperson and CEO Klaus Kleinfeld.
Alcoa delivered some $1.3-billion in productivity and overhead improvements during the year, and reduced days working capital by three days, as well as ending the year in a strong liquidity position with a net debt at its lowest level since 2006, and $1.9-billion cash on hand.
“We overcame volatile metal prices and global economic instability to deliver on our targets for the fourth year in a row. We enter 2013 in a strong position to maximise profitable growth,” said Kleinfeld.
Looking ahead, he noted that global aluminium demand was expected to grow by some 7% in 2013, up from the 6% in 2012 and ahead of the 6.5% rate required to meet Alcoa’s forecast of doubling global aluminium demand between 2010 and 2020.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
AxFlow AQS Liquid Transfer (Pty) Ltd is an Importer and Distributor of Pumps in Southern Africa
VISIT SHOWROOM
Electrifying the world in a safe, smart, and sustainable way, ABB Electrification is a global technology leader in electrical distribution and...
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
