Press Release
 

ALCAN EXTENDS CASH FLOW AND EARNINGS MOMENTUM TO SECOND QUARTER 2007



FINANCIAL HIGHLIGHTS

 
  • Income from continuing operations of $1.18 per common share compared to $1.21 a year earlier and $1.60 in the first quarter;
  • Operating earnings of $1.62 per common share compared to $1.48 a year earlier and $1.67 in the first quarter;
  • Cash flow from operating activities in continuing operations of $738 million compared to $771 million a year earlier and $582 million in the first quarter;
  • Debt as a percentage of invested capital of 30% at the end of the second quarter compared to 33% at the end of the first quarter.

MONTREAL, CANADA - July 31, 2007
- Alcan Inc. today reported operating earnings of $1.62 per common share in the second quarter of 2007 compared to $1.48 a year ago and $1.67 in the first quarter.

“These are the second highest quarterly operating earnings in Alcan’s history, an achievement which reflects the ongoing commitment and focus of our dedicated employees”, said Dick Evans, President and CEO. “Our strong performance in relation to operating earnings, cash flow generation and debt reduction is particularly noteworthy given the headwinds faced throughout the quarter from foreign exchange and energy costs. As we look ahead to our combination with Rio Tinto, we will continue to focus on execution and managing for value as well as aggressively building on our excellent pipeline of growth projects,” he continued.

“At the aluminum industry level, extremely strong Chinese demand growth should underpin ongoing favourable conditions. We continue to expect our financial results to reflect not only these favourable industry conditions, but also Alcan’s very strong competitive position,” he concluded.


*Note: All amounts in this press release are expressed in US dollars unless otherwise stated. This press release includes a number of measures for which no meaning is prescribed by generally accepted accounting principles (GAAP). Refer to the section “Definitions” for an explanation of these measures.

 
 

The following information was filed by Alcan Inc on Tuesday, July 31, 2007 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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