Some of the important factors that could cause actual results to differ materially from those in the forward-looking statements include: (i) material adverse changes in aluminum industry conditions generally, including global supply and demand conditions for aluminum, alumina, and aluminum products; (ii) fluctuations in commodity prices, especially London Metal Exchange-based prices and premiums, as applicable, for primary aluminum, alumina, and other products, and fluctuations in index-based and spot prices for alumina; (iii) current global economic and financial market conditions generally, including uncertainties regarding the strength or sustainability of the economic recovery and the effects of government intervention into the markets to address economic conditions; (iv) unfavorable changes in the key markets served by Alcoa, including the automotive and commercial transportation, aerospace, building and construction, distribution, packaging, industrial gas turbine, oil and gas, defense, and other markets; (v) the impact of changes in foreign currency exchange rates on Alcoa’s costs and results, particularly the Australian dollar, Brazilian real, Canadian dollar, euro and Norwegian kroner, as some important raw materials are purchased in other currencies while products are generally sold in U.S. dollars; (vi) significant increases in power or energy costs, including electricity, natural gas, and fuel oil, or interruption or unavailability of energy supplies for Alcoa’s operations; (vii) significant increases in the costs of other raw materials, including carbon products, caustic soda, and other key inputs, as well as freight costs associated with transportation of raw materials to refining and smelting locations; (viii) Alcoa’s inability to achieve the level of revenue growth, cost savings, cash generation, improvement in profitability and margins, fiscal discipline, or strengthening of operations or competitiveness (including moving its alumina refining and aluminum smelting businesses down on the industry cost curves and increasing revenues in its Global Rolled Products and Engineered Products and Solutions segments) anticipated from its restructuring programs and cash sustainability, productivity improvement, technology and other initiatives; (ix) Alcoa’s inability to successfully implement or realize expected benefits from its sale of non-core assets, its growth projects in Brazil, China, Russia, and other countries, or its joint ventures and strategic alliances, in each case as planned, within budget and by targeted completion dates, including, without limitation, the expansion of auto and aluminum lithium capacities, the joint venture with Ma’aden for the development, construction, ownership, and operation of an integrated bauxite mine, alumina refinery, aluminum smelter, and rolling mill in Saudi Arabia, and the proposed joint venture in Russia for the manufacture of high-end titanium and aluminum products for the aerospace industry; (x) further downgrades in Alcoa's credit ratings, material increases in Alcoa’s cost of borrowing, or an inability to access the credit or capital markets; (xi) political, economic, and regulatory risks in the countries in which Alcoa operates or sells products, including changes in interest rates, unfavorable changes in laws and governmental policies, civil unrest and other events beyond Alcoa’s control; (xii) legal compliance risks, including potential claims relating to product liability, health and safety, environmental matters, intellectual property rights, government contracts, taxes, and compliance with U.S. and foreign export laws, anti-bribery laws, competition laws, and sales and trading practices; (xiii) outcomes of contingencies, including significant legal proceedings or government investigations adverse to Alcoa, and environmental remediation matters; (xiv) changes in tax rates and benefits and tax expense and exposure, including changes in the valuation of deferred tax assets and liabilities; (xv) uncertainties regarding the impact of climate change, climate change regulations, or greenhouse effects; (xvi) changes in relationships with, or in the financial or business condition of, customers, suppliers, and business partners; (xvii) effects of cyber attacks and security breaches on the integrity of Alcoa’s information systems, trade secrets and intellectual property, and other company-sensitive data, including potential disruption to Alcoa’s business operations or reputational harm; (xviii) changes in competitive conditions, including actions by competitors, developments in technology, and developments in products, including impacts on customer acceptance of aluminum in substitution for competing materials; (xix) declines in the rate used to discount future estimated liabilities and expenses for pensions and other post-retirement benefits or in investment returns on plan assets, or changes in employee workforce assumptions used for such estimates; (xx) Alcoa’s inability to attract and retain skilled executives and staff with relevant industry and technical experience, whether due to skills shortages in engineering, technical service, construction or other labor market inadequacies or other reasons; (xxi) factors affecting Alcoa’s operations, such as equipment outages, labor disputes, supply disruptions, or other unexpected events; and (xxii) the other risk factors summarized in Alcoa’s Annual Report on Form 10-K
for the year ended December 31, 2013 and other SEC reports.
Certain statements on this website by Alcoa relate to future events and expectations and, as such, constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by the use of predictive, future-tense, or forward-looking terminology, such as “anticipates,” “believes,” “estimates,” “expects,” “forecasts,” “hopes,” “intends,” “may,” “outlook,” “projects,” “should,” “targets,” “will,” or other similar expressions. All statements that reflect Alcoa’s expectations, assumptions, or projections about the future other than statements of historical fact are forward-looking statements, including, without limitation, forecasts concerning aluminum industry growth, aluminum end-market demand or other trend projections, anticipated financial results or operating performance, and statements about Alcoa’s strategies, objectives, goals, targets, outlook, and business and financial prospects. Forward-looking statements are subject to a number of known and unknown risks, uncertainties, and other factors that may cause Alcoa’s actual results to differ materially from those expressed or implied in the forward-looking statements and are not guarantees of future performance. Alcoa disclaims any intention or obligation to update publicly any forward-looking statements, whether in response to new information, future events, or otherwise, except as required by applicable law.