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Financial strength gives us the freedom and flexibility to achieve our vision and live our Values. It begins with an unblinking focus on the bottom line, a conservative view on leveraging our resources, and a willingness to measure ourselves against the best.
Alcoa is typically the first DJIA company to report earnings, combining results from operations in 38 countries in three working days. Among other examples of disciplined financial management:
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Publicly announced, three-year goals to foster structural improvements rather than temporary fixes. |
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Systematic cost reduction programs – their progress reported quarterly – achieving a $1.1 billion annual savings in three years through 2000 and currently moving towards an additional $1 billion reduction by 2003. |
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A commitment to achieve return on capital and performance ratios at 1st quintile levels of S&P Industrial companies. |
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Strategic management of a low debt to capital ratio, even through periods of major acquisitions. |
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Comprehensive due diligence on prospective acquisitions to provide for Alcoa’s safety, environmental, and other standards in future operations. |
Across the company, financial discipline and transparency are first principles.
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Ming Li,
Alcoa Center, Pennsylvania, USA |
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