|
All dollar amounts are expressed
in US$ unless otherwise specified.
At Alcan, economic success is closely aligned with our fundamental
business objective of Maximizing Value. We believe that an organization
achieves economic success when it satisfies the value requirements
of all stakeholders by being a competitive, profitable company and
a socially responsible corporate citizen.
We work to continuously improve our financial performance by setting
high standards for growth and value maximization.
In October 2000, Alcan and algroup merged. The results of operations
from algroup have been included in the Company's Consolidated Financial
Statements since the date of acquisition. As a company with operations
in 38 countries and 52,000 employees worldwide (as at December 31,
2001), Alcan's economic performance has far-reaching impacts.
In 2001, we generated revenues of over $12 billion and reported
consolidated net income of $5 million, which included a non-recurring
charge of $533 million after tax, compared to net income of $618
million in 2000, which included a net non-operating charge of $3
million after tax. The decrease in net income for 2001 was due in
large part to restructuring, impairment and other special charges
accounted for in the fourth quarter of 2001 as well as to lower
average metal prices. These unfavourable factors were offset in
part by merger synergies and the inclusion of a full year of former
algroup operations. The non-recurring charges included $246 million
pre tax set aside for environmental reserves.
| 2001 Revenues: $12.6
Billion |
| |
 |
|
Alcan's 2001 Revenues
by Market
Packaging and beverage cans are Alcan's principal markets,
accounting for 41% of its revenues in 2001. |
|
Alcan's 2001 Revenues
by Product
As a result of the algroup merger, Alcan's revenues by product
reflect a new distribution, with increases in engineered products
and in packaging. |
 |
Accounting for environmental reserves ensures
our ability to deal with specific issues such as enhancing the value
of lands that have little present value because of existing environmental
problems, which are a legacy from earlier practices. The restructuring
of our business portfolio will ensure that we focus on those aspects
of the business that best reflect Alcan's value potential.
These measures will contribute significantly to the
long-term value of the Company. For the full year of 2001, Alcan
realized savings of approximately $50 million.
 
Number of Employees
Year ended December 31
(in thousands) |
|
Payroll/Benefits
by Country
Year ended December 31
(in millions of US$) |
| |
|
|
|
|
|
|
| |
|
2001 |
|
|
|
2001 |
|
|
|
| Canada |
|
12 |
|
Canada |
|
$ 646 |
| United States |
|
10 |
|
United States |
|
599 |
| Brazil |
|
3 |
|
Brazil |
|
52 |
| United Kingdom |
|
5 |
|
United Kingdom |
|
267 |
| Germany |
|
7 |
|
Germany |
|
371 |
| Switzerland |
|
4 |
|
Switzerland |
|
223 |
| Other Europe |
|
7 |
|
Other Europe |
|
238 |
| Australia |
|
1 |
|
Australia |
|
51 |
| Asia and Other Pacific |
|
2 |
|
Asia and Other Pacific |
|
44 |
| All Other |
|
1 |
|
All Other |
|
30 |
|
|
|
| Total |
|
52 |
|
Total |
|
$ 2,521 |
|
|
|
Worldwide, our total assets were $17.5 billion,
our payroll and benefits some $2.5 billion, and we paid income taxes
of $213 million in the countries where we operate. These taxes exclude
other types of taxes paid by the Company such as sales taxes, real
estate taxes, water taxes and any other taxes imposed by local governments.
Capital Expenditures
and
Business Acquisitions by Country
Year ended December 31
(in millions of US$) |
| |
|
|
|
|
| |
|
2001 |
|
2000 |
|
| Canada |
|
$ 399 |
|
$ 1,097 |
| United States |
|
196 |
|
113 |
| Brazil |
|
61 |
|
42 |
| United Kingdom |
|
94 |
|
49 |
| Germany |
|
73 |
|
55 |
| Switzerland |
|
45 |
|
18 |
| Other Europe |
|
124 |
|
79 |
| Australia |
|
416 |
|
12 |
| Asia and Other Pacific |
|
79 |
|
239 |
| All Other |
|
27 |
|
31 |
|
| Total |
|
$ 1,514 |
|
$ 1,735 |
|
Return on Capital Employed
Years ended 2000 and 2001
Our capital investments for 2001 totalled $1.5
billion, which included approximately $250 million for completion
of the Alma smelter in Quebec and $379 million related to the acquisition
of the remaining 30% of the Gove alumina/bauxite operation in Australia.
On an ongoing basis, approximately $840 million is expected to be
invested annually to maintain the integrity and competitiveness
of the Company's existing assets.
Although we illustrate some of our financial highlights
on the following pages, investors and readers seeking more detailed
information should refer to Alcan's 2001 Annual Report to shareholders.
|
