Ominous ... Alcoa then began the season of the publication of results in the United States, the U.S. aluminum giant announced for its fourth fiscal quarter net loss of $ 191 million and 18 cents a share, against $ 258 million of profits in 2010.
$ 185 million of non-recurring charges for the recently announced restructuring were recorded during the quarter.
$ 185 million of non-recurring charges for the recently announced restructuring were recorded during the quarter.
Regardless of these charges, the loss would have amounted to $ 34 million or 3 cents a share, on revenues of $ 6 billion. Value compared with $ 5.65 billion in 2010.
Note that the consensus is for his loss of 2 cents per share and $ 5.72 billion in sales.
But with the fall in metal prices, the first U.S. aluminum producer has been forced to include a charge to reduce production.
Last week, Alcoa has announced its intention to reduce by 12% worldwide foundry capacity, particularly in Texas, Italy and Spain.
The group plans and eventually closes down its site in Portovesme, Sardinia. Lala production at its plants in Spain La Coruña and Avilés should be reduced during the first half of the year.
According to Alcoa, these sites are among the most expensive of the global society; between them they employ about 1,500 people.
According to traders, the capacity reduction is primarily aimed at supporting aluminum prices, which fell below $ 2,500 since August. Most analysts believe that nearly a quarter of world production is not profitable at this price level.
Note also that the declines in production in Europe are 240,000 tons per year, or 5% of world production capacity of Alcoa.
Turnover has meanwhile increased by 6% to $ 5.7 billion, despite a decline in aluminum prices by 6% in the fourth quarter and 18% over the year.
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