Economy
Monday, 11 April 2016
Traditionally opened the aluminum producer Alcoa, the US balance season, too many positives there but this time not to report:. Raw material prices for aluminum are still in the basement and the strong dollar does its part to push the profit
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The US aluminum producer Alcoa has presented a number of works with light and shadow for the first quarter. The group, which traditionally opens the reporting season in the US, reported adjusted earnings per share of 7 cents, exceeding the forecast of analysts of 2 cents clear. However, sales remained at 4.9 billion dollars behind the expectation of 5.2 billion dollars. Alcoa shares slipped after trading 3.6 percent to $ 9.39 from.
In particular, the low aluminum prices bedeviled the US company in the past quarter. In addition, the outlook was reduced for the aviation sector. Here Alcoa expects this year now even with a growth of 6 to 8 percent, after previously 8 to 9 percent. In addition, the Group is only of an increase in global aluminum demand this year by 2 percent, after earlier, an increase of 6 percent was expected yet.
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The aluminum industry in the US is on the retreat, although the car industry installed more aluminum to make their vehicles more fuel-efficient. For this, however, they imported more raw aluminum from abroad, which they process and cut in the United States. Earlier this year, Alcoa announced the closure of its largest aluminum smelters in Indiana and a factory in Texas.
The aluminum giant wants to split this year into two companies. The profitable business with light alloys for the aerospace and automotive industry is separated from the traditional aluminum production. to go over the stage separation this year. Both companies will be listed on the stock exchange with the aim of helping the cumulative stock price on the jumps.
The share price has reacted in the past strongly on the development of aluminum prices, although the traditional business with smelters smaller part accounts as the lucrative area with higher value-added products.
Source: n-tv.de
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