Century Aluminum Company · NASDAQ:CENX
Century Aluminum — Q1 2019 Earnings Presentation
16 slides from Century Aluminum's earnings presentation, Apr 30, 2019
Slide 1: Century Aluminum 1st Quarter Earnings Call
Century Aluminum 1st Quarter Earnings Call April 30, 2019
Slide 2: Cautionary Statement
Cautionary Statement This presentation and comments made by Century Aluminum management on the quarterly conference call contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the S
Slide 3: Speakers
Speakers • Mike Bless, President and Chief Executive Officer • Craig Conti, Executive Vice President and Chief Financial Officer • Shelly Harrison, Senior Vice President, Finance and Treasurer • Peter Trpkovski, Director of Financial Planning and Analysis 2
Slide 4: Overview
Overview • Market conditions improving • Operations safe and stable • Hawesville idled capacity restart completed on time and budget • Next phase of Hawesville investment project commenced • U.S. trade policy continues to drive intended results • COO appointment 3
Slide 5: Industry Environment
Industry Environment 1) Source: CRU Group, Century Aluminum Company 4
Slide 6: Q1 2019 vs. Q4 2018 Operations
Q1 2019 vs. Q4 2018 Operations Hawesville Sebree Mt. Holly Grundartangi Safety Production(1) 9% 2% 0% -1% KPIs Flat Flat Controllable cost(2) -24% -9% -10% 8% 1) Production on a tonnes per day basis 2) Excludes raw materials and casting 5
Slide 7: Q1 2019 Summary Results
Q1 2019 Summary Results ($MM, except per share and tonne amounts) Q418 Q119 Income statement Shipments (tonnes) 199,466 206,451 Net sales $ 487 $ 490 Net income/(loss) (65) (35) Earnings/(loss) per share (0.74) (0.39) (1) Adjusted net income/(loss) (41) (67) (1) Adjusted earnings / (loss) per share
Slide 8: Q1 2019 Adjusted EBITDA
Q1 2019 Adjusted EBITDA(1) 1) See reconciliation to comparable GAAP financial measure in appendix 7
Slide 9: Q1 2019 Cash Flow
Q1 2019 Cash Flow 1) See reconciliation to comparable GAAP financial measure in appendix 8
Slide 10: Historical Alumina Price
Historical Alumina Price Average API% of LME is 16.9% prior to unprecedented last twelve months 9
Slide 11: Appendix
Appendix
Slide 12: Non-GAAP Financial Measures
Non-GAAP Financial Measures Adjusted EBITDA, adjusted net income / (loss) and adjusted earnings / (loss) per share and net debt are non-GAAP financial measures that management uses to evaluate Century's financial performance. These non-GAAP financial measures facilitate comparisons of this period’s
Slide 13: Adjusted Net Income/(Loss) Non-GAAP Reconciliation
Adjusted Net Income/(Loss) Non-GAAP Reconciliation Q418 Q119 $MM EPS $MM EPS Net income (loss) as reported $ (65.0) $ (0.74) $ (34.6) $ (0.39) Lower of cost or NRV inventory adjustment, net of tax 29.1 0.33 (35.0) (0.40) Unrealized (gain) loss on derivative instruments (3.2) (0.04) 5.6 0.06 Sebree e
Slide 14: Adjusted EBITDA Non-GAAP Reconciliation
Adjusted EBITDA Non-GAAP Reconciliation ($MM) Q418 Q119 Net income (loss) as reported $ (65.0) $ (34.6) Interest expense 5.7 5.8 Interest income (0.2) (0.2) Net (gain) loss on forward and derivative contracts (3.6) 5.7 Other (income) expense - net (1.1) (1.1) Income tax (benefit) expense (3.2) (2.9)
Slide 15: For Additional Information
For Additional Information Peter Trpkovski peter.trpkovski@centuryaluminum.com 312-696-3112 (Office) Century Aluminum Company One South Wacker Dr, Suite 1000 Chicago, IL 60606 312-696-3102 (Fax) www.centuryaluminum.com 14
Slide 16: CenturyAuminu
CenturyAuminu Centuryawminum
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