Century Aluminum Company First Quarter 2018 Earnings Conference Call
05.03.18 at 5:00 PM EDT
Presentations: Cautionary Statement
Please read this statement before viewing the presentation.
This presentation and comments made by Century Aluminum management on the webcast 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 Securities Exchange Act of 1934. Forward-looking statements are statements about future events and are based on our current expectations. These forward-looking statements may be identified by the words "believe," "expect," "target," "anticipate," "intend," "plan," "seek," "estimate," "potential," "project," "scheduled," "forecast" or words of similar meaning, or future or conditional verbs such as "will," "would," "should," "could," "might," or "may."
Forward-looking statements in this presentation may include, without limitation, statements with respect to:
- future global and local financial and economic conditions;
- our assessment of the aluminum market and aluminum prices (including premiums);
- our ability to procure alumina, carbon products and other raw materials and our assessment of pricing and costs and other terms relating thereto;
- the final form of any Section 232 relief, including tariffs or other trade remedies, the extent to which any such remedies are ultimately implemented or changed, including any exemptions, the timing for implementation and duration of any trade remedy and the future impact of any such trade remedy to Century, on aluminum prices, or more generally;
- the future impact of any new or changed law, regulation or other action affecting our business, including, without limitation, the impact of any trade actions, sanctions or other similar remedies or restrictions implemented by the U.S. or foreign governments;
- our assessment of power pricing and our ability to successfully obtain and/or implement long-term competitive power arrangements for our operations and projects, including at Mt. Holly;
- our ability to successfully manage transmission issues and wholesale market power price risk and to control or reduce power costs;
- our plans and expectations with respect to the future operation of our smelters and our other operations, including any plans and expectations to restart curtailed capacity at our Mt. Holly smelter;
- our intention to bring our Hawesville smelter back to full production and any plans, expectations, costs or assumptions with respect thereto;
- Future investments in new technology or other production improvements;
- Our ability to hire and retain qualified employees for our operations;
- the future financial and operating performance of the Company, its subsidiaries and its projects;
- future inventory, production, sales, cash costs and capital expenditures;
- future impairment charges or restructuring costs;
- our anticipated tax liabilities, benefits or refunds including the realization of U.S. and certain foreign deferred tax assets and liabilities and the impact of recent tax reform in the U.S. and foreign jurisdictions;
- the anticipated impact of recent accounting pronouncements or changes in accounting principles;
- our ability to access to existing or future financing arrangements and the terms of any such future financing arrangements;
- our ability to repay debt in the future;
- estimates of our pension and other postretirement liabilities and future payments, property plant and equipment impairment, environmental liabilities and other contingent liabilities and contractual commitments;
- future construction investment and development, including our expansion project at our Grundartangi smelter and our plans and expectations with respect thereto;
- our assessment of the ultimate outcome of outstanding litigation and environmental matters and liabilities with respect thereto;
- negotiations with labor unions representing certain of our employees; and
- our future business objectives, strategies and initiatives, including our competitive position and prospects.
Where we express an expectation or belief as to future events or results, such expectation or belief is expressed in good faith and believed to have a reasonable basis. However, our forward-looking statements are based on current expectations and assumptions that are subject to risks and uncertainties which may cause actual results to differ materially from future results expressed, projected or implied by those forward-looking statements. Important factors that could cause actual results and events to differ from those described in such forward-looking statements can be found in the risk factors and forward-looking statements cautionary language contained in our Annual Report on Form 10-K, quarterly reports on Form 10-Q and in other filings made with the Securities and Exchange Commission. Although we have attempted to identify those material factors that could cause actual results or events to differ from those described in such forward-looking statements, there may be other factors that could cause results or events to differ from those anticipated, estimated or intended. Many of these factors are beyond our ability to control or predict. Given these uncertainties, the reader is cautioned not to place undue reliance on our forward-looking statements. We undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events, or otherwise.
In addition, throughout this presentation, we will use non-GAAP financial measures. Reconciliations to the most comparable GAAP financial measures can be found in the Appendix of today's presentation and on our website at www.centuryaluminum.com.
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