Turning
Raw
Potential
into
Real
Progress
2021 ANNUAL REPORT
Our purpose to
turn raw potential into real progress serves as a foundation for every goal we set, decision we make, action we take and strategy we implement.
Our Purpose
Turn Raw Potential into Real Progress
Our purpose guides how we interact with our core stakeholders:
CUSTOMERS
Focusing our energy on new possibilities for our customers, from our processes to our products.
EMPLOYEES
Embracing our talents and strengths, taking ideas and turning them into reality with determination and ingenuity.
STOCKHOLDERS
Creating value for our stockholders by doing what we say we will do and delivering on the standards we set.
COMMUNITIES
Demonstrating a positive impact that is enduring, creating lasting progress for our world.
2
Our Vision
Reinvent the aluminum industry for a sustainable future
We developed our vision to reflect the inspiration of our purpose and to answer the question, "What's next for Alcoa?"
The world is changing. Together with our partners, we are ready to tackle the toughest challenges facing our industry, including the need for a low-carbon economy. We will achieve our vision through improving our processes and innovating new products, all while leveraging the ingenuity of our people.
REINVENTING SMELTING
Achieving zero-carbon smelting through ELYSIS™, our joint venture that can revolutionize the way molten aluminum is produced.
CREATING THE REFINERY OF THE FUTURE
Designing a cost-competitive refinery with a lower carbon footprint, using renewable energy and repurposing bauxite residue through creative reuse.
TRANSFORMING RECYCLING
Creating high-purity aluminum from post-consumer scrap with Alcoa's ASTRAEA™ process.
STRIVING FOR NET ZERO
Embracing the ambition to achieve net zero greenhouse gas emissions across our operations by 2050.
Our Values
Our values serve as a foundation, illustrating who we are at our best and outlining our behaviors.
Act with Integrity
- Be open, honest and accountable
- Do the right thing the right way
- Promote high ethical standards at all times
Operate with Excellence
- Continually improve standards of operation
- Analyze every angle to overcome difficulty
- Empower everyone with the right resources to do their best work
Care for People
- Put safety first
- Seek solutions with diverse, inclusive teams
- Make decisions with our communities in mind
Lead with Courage
- Embrace opportunities to reinvent
- Innovate for long-term impact
- Challenge the status quo
Our Strategic Priorities
These are the business imperatives that drive our business forward.
Reduce Complexity
Operate our business and assets with a focus on being low cost, competitive and resilient through all market cycles.
Drive Returns
Improve commercial capabilities, invest in targeted growth opportunities and increase margin focus across the value chain.
Advance Sustainably
Transform our portfolio and leverage our industry- leading environmental and social standards for a sustainable future.
ALCOA 2021 ANNUAL REPORT | 3
Financial Highlights
All data for year ending December 31, 2021
$1.9 Billion1: Cash Balance
$2.76 Billion: Adjusted EBITDA excluding special items2 12,200 Employees
- Includes $110 million in restricted cash.
- Please see Calculation of Financial Measures at the end of this Annual Report for a description and
reconciliation of all non-GAAP financial metrics presented throughout this report.
Production & Shipments
BAUXITE
- First quartile of bauxite cost curve
- World's second largest bauxite miner, using sustainable methods
ALUMINA
- First quartile of alumina cost curve
- Offering low-carbon alumina via our EcoSource™ brand, which can be sourced globally from our premier refining system
BAUXITEBAUXITE
PRODUCTIONSHIPMENTS
47.6 48.1
|
Million Dry Metric Tons |
Million Dry Metric Tons |
ALUMINAALUMINA
PRODUCTIONSHIPMENTS
13.3 13.9
|
Million Metric Tons |
Million Metric Tons |
12%
88%
69%
31%
ALUMINUM
- Second quartile of aluminum cost curve
- 81 percent of smelting portfolio powered by renewable energy
- Offering EcoLum™ low-carbon aluminum from hydro-powered facilities, and EcoDura™ aluminum with at least 50 percent recycled content
|
PRIMARY ALUMINUM |
ALUMINUM |
|
PRODUCTION |
SHIPMENTS |
|
2.2 |
3.0 |
|
Million Metric Tons |
Million Metric Tons |
100%
0%
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Alcoa Corporation published this content on 18 March 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 18 March 2022 12:55:11 UTC.
