For Immediate Release
     March 9, 2016
 

Aleris Reports Fourth Quarter and Full Year 2015 Results
CLEVELAND, Ohio – March 9, 2016 – Aleris Corporation today reported results for the three months and year ended December 31, 2015. Except as otherwise indicated, all amounts reflect the divested recycling and extrusions businesses as discontinued operations.
Fourth Quarter Summary
Adjusted EBITDA of $39 million, in line with the fourth quarter of 2014
Global automotive volumes up 33 percent compared to prior year
Global aerospace volumes up 15 percent compared to prior year
Solid productivity savings in North America and Europe
Challenging metal spread environment caused by continued depressed aluminum price
Lower year-over-year North America building and construction volumes
Stronger U.S. dollar positively impacted Europe profitability
Positive Adjusted EBITDA generated by Asia Pacific
Full Year Summary
Adjusted EBITDA of $223 million, up 26 percent compared to 2014
Completed divestitures of recycling and extrusions businesses for $583 million of net proceeds
Global automotive volumes up 25 percent compared to the prior year
Global aerospace volumes up 12 percent compared to the prior year
Stronger U.S. dollar positively impacted Europe profitability
Liquidity of $435 million as of December 31, 2015; paid down $125 million of Senior Notes
First Quarter 2016 Outlook
Year-over-year performance expected to be moderately lower than prior year, but moderately higher after excluding $10 million related to both first quarter of 2015 currency exchange gains and the impacts of tighter metal spreads in 2016
Global automotive and aerospace volumes expected to exceed prior year
Order patterns trending favorably in North America and Europe
Aleris Operating System expected to drive favorable productivity

“A better than projected fourth quarter caps off a strong 2015, during which we completed the transformation of Aleris into a global rolled products company, a strategy that has been validated by demand growth for both our aerospace and automotive products which has led to enhanced profitability and improved overall performance,” Aleris President and CEO Sean Stack said. “With the successful implementation of our growth projects in Europe and Asia Pacific, and the progress we’ve made on our automotive expansion project in the U.S., we are well-positioned to continue to meet the projected increase in demand from these high-value industries as well as the building and construction industry in North America. We will continue to build on our momentum in 2016 by driving strong execution through our operational excellence initiatives and continued focus on technology and new product development, which will further enable us to serve our customers’ needs.”


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The following information was filed by Aleris Corp (ARS) on Wednesday, March 9, 2016 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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