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[January 2007]
Alcoa Announces Highest Income and Revenue in Company's History
Alcoa (New York, USA) has announced the best full year results in the company's 118-year history. Annual income from continuing operations was US$2.2 billion, or $2.47 per diluted share for 2006. After excluding the impact of previously announced restructuring and impairment charges, income from continuing operations was US$2.5 billion, or $2.90, a 75% increase from 2005.
Driven by higher metal prices and strong demand for aluminium in the aerospace, commercial transportation and commercial building markets, revenues for 2006 increased 19% to a record US$30.4 billion.
"This year, top and bottom-line performance has been the best in our company 's history," said Alain Belda, Alcoa Chairman and CEO. "Revenues and income from continuing operations achieved record levels.
"Our management team took full advantage of the opportunities the market offered, driving revenue, mitigating costs, bringing new products and innovation to the market, expanding our global footprint and growing our customer base. We did this while continuing to invest in modernizing our existing plants and building new operations that will enable us to deliver strong results for years to come. We are delivering results now and investing in our future.
"As we enter 2007, market fundamentals remain strong. We will generate more than enough cash this year to fund our capital investment programs. We will continue to deliver strong results, invest in our future, and keep a strong balance sheet. And, we continue to manage our investment decisions and portfolio actions on the basis of contribution to profitable growth."
www.alcoa.com
ENDS