Alcoa_4Q09_Earnings_Presentation

Alcoa_4Q09_Earnings_Presentation - 4 th Quarter 2009...

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Unformatted text preview: 4 th Quarter 2009 Earnings Conference January 11, 2010 Forward-Looking Statements Todays discussion may include forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements relate to future events and expectations and involve known and unknown risks and uncertainties. Alcoas actual results or actions may differ materially from those projected in the forward-looking statements. For a summary of the specific risk factors that could cause results to differ materially from those expressed in the forward-looking statements, please refer to Alcoas Form 10-K for the year ended December 31, 2008, Forms 10-Q for the quarters ended March 31, 2009, June 30, 2009, and September 30, 2009, and other reports filed with the Securities and Exchange Commission. 2 Chuck McLane Executive Vice President and Chief Financial Officer 3 4 th Quarter 2009 Financial Overview Cash Sustainability targets achieved Cash from operations of $1.1 billion Free cash flow of $761 million Debt-to-cap at 38.6% , down 390 basis points from Q408 Total debt reduced by $759 million since 4Q08 Cash on hand of $1.5 billion Loss from continuing operations of $266 million, or $0.27 per share Restructuring and special items total $275 million, or $0.28 per share Negative impact from currency and energy of $65 million Continued end-market weakness compounded by Aero & IGT destocking 4 Revenue Change by Market (3%) 25% (4%) 8% 1% (16%) 4% 11% 43% 39% (21%) (43%) (30%) (45%) (36%) (9%) (21%) (55%) (26%) (35%) 12% 2% 6% 3% 4% 3% 15% 6% 14% 35% Aerospace Automotive B&C Comm. Transport Industrial Products IGT Packaging Distribution/Other Alumina Primary Metals 4Q09 Third Party Revenue Sequential Change Year-Over-Year Change 5 Sequential Income Statement Summary $ Millions 3Q09 4Q09 Change Sales $4,615 $5,433 $818 Cost of Goods Sold $3,888 $4,905 $1,017 COGS % Sales 84.2% 90.3% 6.1 % pts. Selling, General Administrative, Other $234 $291 $57 SGA % Sales 5.1% 5.4% 0.3 % pts. Restructuring and Other Charges $17 $69 $52 Effective Tax Rate (22.4%) 34.8% N/A Income (Loss) from Continuing Operations $73 ($266) ($339) Income (Loss) from Discontinued Operations $4 ($11) ($15) 6 7 $ Millions Italy Other After-Tax & Non- Controlling Interests Earnings Per Share Income Statement Classification Segment Restructuring ($15) ($34) ($49) Restructuring Corporate Discrete Tax Items ($41) $123 $82 Taxes Corporate Special Items: Italy Power Drawback ($250) ($250) Cost of Goods Sold Primary Metals Environmental Accrual ($15) ($15) Cost of Goods Sold Corporate MRN Tax Settlement ($24) ($24) COGS / Minority Interest Alumina / Corporate Intalco Repowering ($19) ($19) Other Income / Expense Corporate Total ($321) $46 ($275) ($0.28) 4 th Quarter Restructuring and Special Items Total Headcount Reduced By 38% Since Q208 8 15,300 4,400 1,950 550 2,400 24,600 2H'08 Q1'09 Q2'09 Q3'09 Q4'09 Total Charges...
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This note was uploaded on 02/05/2012 for the course FINANCE 101 taught by Professor George during the Spring '11 term at University of Phoenix.

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Alcoa_4Q09_Earnings_Presentation - 4 th Quarter 2009...

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