For Immediate Release
     March 10, 2014
 

Aleris Reports Fourth Quarter and Full Year 2013 Results
CLEVELAND, Ohio – March 10, 2014 – Aleris Corporation today reported results for the three and twelve months ended December 31, 2013.

Fourth Quarter 2013 Summary

Net loss attributable to Aleris Corporation of $29 million and Adjusted EBITDA of $26 million
Higher automotive volumes in North America and Europe
Global aerospace volumes impacted by customer destocking
North American rolled products volumes down
Quality and delivery improvement focus led to increased maintenance spending
Inventory reduction initiatives drove unfavorable cost absorption
Continued narrow scrap spreads and price pressure impacted North American rolled products margins
SG&A expenses decreased 17 percent driven by cost reduction initiatives
Achieved AS 9100 certification for the production of aircraft material at our Zhenjiang rolling mill
Liquidity of $443 million as of December 31, 2013

First Quarter 2014 Outlook

Significant sequential performance improvement expected
Automotive light weighting impact on aluminum demand expected to exceed prior year
Pockets of modest improvement in European regional demand
Aerospace volumes continue to be impacted by customer destocking
Drastic weather conditions in North America impacting production, logistics and demand
Low LME prices continuing to pressure scrap and metal spreads; historical highs in Midwest Premium differential impacting demand for North American rolled products


“We remain diligent in executing our strategic growth initiatives, securing strong volumes from increased automotive demand through our expanded Duffel, Belgium facility and attaining a key qualification to pave the way for the production of aircraft material at our new state-of-the-art plate mill in Zhenjiang, China,” Aleris Chairman and CEO Steve Demetriou said.  “Despite our best efforts, however, 2013 was a disappointing year and we are sharply focused on improving productivity and driving better performance in 2014.  We are also extremely excited about our agreement to acquire Nichols  Aluminum as we believe it will enhance our ability to serve customers in North America, and we look forward to transitioning the Nichols employees and operations into Aleris when the transaction clears customary regulatory approvals.”




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The following information was filed by Aleris Corp (ARS) on Monday, March 10, 2014 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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