April 1, 2015
Aleris Reports Profitable 2014
Aleris Corp., Cleveland, reported $87.1 million in net income in 2014, a turnaround from the $37.1 million lost the previous year. Net income from continuing operations totaled $53.8 million, reversing the $63.0 million lost in 2013.
The company’s net revenues totaled $2.9 billion, a 14.3 percent increase over the prior year. Full-year shipments of 794.7 million tons were 15.7 percent greater than 2013. Both figures were boosted by the company’s 2014 acquisition of Nichols Aluminum.
In the fourth quarter, Aleris’ net income totaled $95.7 million, turning around the $29.0 million loss posted in the same quarter the prior year. Net income in the fourth quarter increased 26.1 percent to $733.0 million, while total shipments were 21.8 percent greater at 193.5 million tons.
"I am very pleased that our major strategic investments, which were successfully completed over the last few years, contributed to the significant profit growth experienced in the fourth quarter. We also experienced demand growth across several of our end-use industries, which led to stronger overall volumes in the second half of the year, particularly in automotive," says Steve Demetriou, Aleris chairman and CEO. "We believe this volume momentum will continue into 2015 particularly in global automotive, U.S. building and construction, and Asia Pacific high-value-added aerospace and commercial plate."
In addition to the acquisition of Nichols, the company divested its recycling and extrusions businesses in separate transactions over the last 12 months. "With the divestitures now complete, we look forward to continuing to enhance our capabilities as we complete our evolution into a pure-play aluminum rolled products company with manufacturing operations in North America, Europe and Asia Pacific," Demetriou says.