For Immediate Release
     August 6, 2018

Aleris Reports Second Quarter 2018 Results
CLEVELAND, Ohio – August 6, 2018 – Aleris Corporation today reported results for the three and six months ended June 30, 2018.
Second Quarter Summary
Net loss of $47 million compared to net loss of $2 million in the second quarter of 2017; net income would have been $2 million adjusting for $49 million of debt extinguishment costs associated with the Company’s debt refinancing
Record Adjusted EBITDA of $85 million; up from $66 million in the second quarter of 2017
Improved performance due to strong demand, improved operating performance and a favorable metal environment in North America
Higher global automotive volumes from strong demand and improved operating performance in Europe as well as commercial shipments from new North America automotive assets
Europe unfavorably impacted by expected continued aerospace destocking headwinds and product mix
Asia Pacific aerospace volume growth drove record shipments and segment Adjusted EBITDA
Liquidity of approximately $446 million as of June 30, 2018; completed debt refinancing that substantially increased liquidity and extended debt maturity profile to 2023
After quarter end, announced a definitive agreement for Aleris Corporation to be acquired by Novelis Inc.
Third quarter segment income and Adjusted EBITDA expected to be substantially higher than the third quarter of 2017
Commercial shipments from new North America automotive assets are expected to show significant ramp up based on committed volumes; start-up costs expected to decline
Global aerospace volumes expected to benefit from higher aircraft production rates, the anticipated end of customer destocking and recent global, multi-year customer contracts
European automotive volume expected to continue to benefit from new model launches
Favorable year-over-year scrap spreads expected in North America
Continued inflationary cost pressure expected, particularly in freight

“Our strong performance reflects the successful ramp up of multiple growth projects as well as our laser focus on enhancing the reliability of our operations, both of which have positioned us well to fully capitalize on a strong environment,” Sean Stack, Aleris chairman and CEO said. “With our new automotive capabilities at our facility in Lewisport, Kentucky delivering to customers and the benefits of multiple multi-year global aerospace contracts taking effect, we expect to continue our momentum into the next quarter and beyond.”
“As previously announced, Aleris has signed a definitive agreement to be acquired by Novelis, where I am confident that our assets and people will continue to thrive and be successful. The transaction is expected to close in the next 9-15 months.”


The following information was filed by Aleris Corp on Monday, August 6, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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