The American company completed in 2013 with huge loss
22 January 2014
US aluminum company «Alkoa Inc» in late 2013 received an unexpected blow in the form of losses of more than $ 2 billion on a background of a rapid fall in the metal price. Jonathan Pawlik, managing «Stewart Capital», Pittsburgh, said that investors «Alkoa Inc» counting on to improve in 2014 compared with a year earlier, but hope remained just hopes. About any improvements are not out of the question.
Despite the fact that «Alkoa Inc» is the largest US aluminum producer, its shares during the off-exchange trades fell by 4%. The reason for this decline was the publication of the profit before write-off, as she was unable to hold on to the level predicted by analysts, and are not optimistic predictions about the stagnation of aluminum on the world market. Indeed, the cost of the metal throughout 2013 remained disappointingly low.
Income «Alkoa Inc» decreased by 5,3% per year, which amounted to 5.59 billion. Dollars at the end of 2013, although analysts' forecasts voiced a figure of 5.34 billion. Thus, the net loss «Alkoa Inc» amounts to 2.34 billion. dollars, when compared with a net profit of 2012, which in the fourth quarter amounted to 242 million dollars.
However, the company, according to its representatives, is counting on an increase in demand for the metal, which is expected to reach 7% in 2014. In the automotive industry demand increase percentage from 1 to 4 percent, it will increase in the aerospace 7 or 8 percent, and in the construction of 4 to 6 percent.
In the first quarter of 2014 the company «Alkoa Inc» expects to increase operating profit that after tax the industry of manufacture of composite materials will be from 8 to 10 percent of the 168 million. Dollars in the IV quarter. Such an assumption is expressed CFO William Oplinger company.
Oplinger also hoped to increase the capacity of the rolling segment, which includes the production of aluminum sheet, plate and foil, generate income. Moreover, the profitability in the first quarter of the new year may double after the occurrence of the collapse that followed as a result of reduction in demand for rolled products in the aerospace industry and packaging.
In recent years, these segments of the aluminum industry showed a far greater yield, so that at the moment it is 57% of the total revenue «Alkoa Inc».
