alerislogo1a01a01a01a02a30.jpg    
     For Immediate Release
     March 19, 2018

Aleris Reports Fourth Quarter and Full Year 2017 Results
CLEVELAND, Ohio – March 19, 2018 – Aleris Corporation today reported results for the three months and year ended December 31, 2017.
Highlights
North America autobody sheet project on-line, CALP 1 commissioned and qualified; began shipping customer material in the fourth quarter
Successfully completed major Lewisport automotive readiness outage, upgrading the facility and widening the hot mill; the outage effectively cost 75 days of production and resulted in approximately 100 million pounds of estimated lost shipments
Aerospace customer contracts renewed with an increased share of customers’ business and with higher value alloy mix; wingskin project in Koblenz achieved qualification for Airbus and is expected to begin producing wingskin in the second half of 2018; significant progress made on technical and manufacturing initiatives in Zhenjiang for wingskin production in Asia Pacific
Strong focus on cash flow improvement in the fourth quarter, as capital expenditures continued to ramp down and year-on-year working capital productivity more than offset higher metal prices; cash flow from operations improved to $1 million in the fourth quarter of 2017 compared to cash used for operating activities of $35 million in the fourth quarter of 2016
Wider net loss for the year and the fourth quarter due to, in part, one-time tax items, peak start-up expense, and write off of Real Industry preferred stock, driving net loss from $76 million for 2016 to $211 million for 2017 and from $35 million in the fourth quarter of 2016 to $107 million in the fourth quarter of 2017
Full year Adjusted EBITDA of $201 million compared to $205 million in 2016. 2017 Adjusted EBITDA does not include the impact of lost Lewisport shipments that we estimate could have produced approximately $30 million of segment income and Adjusted EBITDA under prevailing 2017 prices; fourth quarter Adjusted EBITDA of $37 million compared to $43 million in the fourth quarter of 2016
We ended the year with liquidity of approximately $231 million as of December 31, 2017; liquidity does not include $80 million of customer capacity reservation fees expected to be fully realized early in the second quarter of 2018
Outlook
2018 full year segment income and Adjusted EBITDA expected to be substantially higher than prior year with meaningful improvements beginning in the second quarter
Commercial shipments from first Lewisport CALP, which are expected to show significant ramp up in second half of 2018 based on committed volumes
Global aerospace volumes expected to benefit from higher aircraft production rates and new global, long-term customer contracts after inventory destocking subsides
European automotive demand expected to benefit from new model launches and less capacity reserved to support Lewisport’s ramp up
Favorable year-over-year scrap spreads expected in North America, particularly in the first half of 2018
A weaker U.S. dollar will negatively impact results in 2018


1

The following information was filed by Aleris Corp (ARS) on Monday, March 19, 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-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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