Cleveland-Cliffs Inc .)2020年第二季度业绩报告

皇冠体育——（皇冠体育官网商业资讯）——CLEVELAND- cliffs Inc.（纽约证券交易所代码：CLF）今天公布了截至2020年6月30日的第二季度业绩。

该公司报告总收入为11亿美元，而去年第二季度的综合收入为7.43亿美元。

该公司在2020年第二季度录得1.08亿美元的净亏损，摊薄后每股亏损0.31美元，归属于Cliffs股东。相比之下，去年第二季度的净利润为1.61亿美元，摊薄后每股收益为0.57美元。截至2020年6月30日的六个月，公司净亏损1.57亿美元，而2019年同期的净收入为1.39亿美元。

2020年第二季度，公司报告调整后ebitda亏损8200万美元。这一数额包括1.59亿美元的闲置成本和3200万美元的公司间颗粒销售相关的公司利润消除。

Cliffs的董事长、总裁兼首席执行官Lourenco Goncalves表示：“第二季度是不寻常的，COVID-19大流行对我们的客户产生了全面影响。当时，我们主要关心的是保持流动性，因为我们无法向我们服务的所有市场的客户运送钢铁，尤其是在我们的主要终端市场——汽车行业。截至今天，我们的客户已经恢复了健康的运营水平，我们的流动性也稳定在11亿美元以上。这远远超出了我们保守的预期，为第二学期的强劲增长创造了非常令人兴奋的商业前景。”

贡萨尔维斯补充说：“在任何一年，第二季度都是我们的铁矿石客户补充冬季耗尽的颗粒库存的时候。我们在第二季度继续销售颗粒的成功对我们的业绩也非常重要，这表明Cleveland-Cliffs与我们领域的其他公司之间存在明显的差异。”

贡萨尔维斯先生总结道：“我们很兴奋，但并不惊讶，因为我们正在释放AK钢铁足迹的潜力。我们已经实施了收购时披露的所有协同效应计划，1.51亿美元的更新金额远远高于最初1.2亿美元的协同效应目标。今年下半年，我们将完成HBI工厂的建设，为皇冠体育-克利夫斯在2021年及以后创造另一项高利润的业务。目前，基于我们独特的完全集成和自给自足的足迹，从铁矿石颗粒到高度复杂的碳和不锈钢以及汽车零部件，我们专注于与传统汽车客户发展业务，并从电动汽车，卡车和suv的新制造商名单中增加新客户。”

2020年第二季度销售商品的钢铁和制造成本为8.6亿美元，其中包括约1.19亿美元的闲置相关成本和3600万美元的公允价值库存增量摊销。商品销售成本占收入的百分比受到产品销售组合的不利影响，这主要是由于COVID-19大流行导致汽车客户的销量下降。

第二季度采矿和造粒颗粒销售量为480万长吨，其中公司间销售量为100万长吨。每吨现金成本为每长吨78美元，其中包括每长吨约8美元的闲置成本。

公司和淘汰

2020年第二季度调整后的EBITDA亏损为6000万美元，其中包括：采矿和造粒部门向钢铁和制造部门销售铁矿石的公司间利润消除为3200万美元；公司销售、一般和行政费用经调整后净额约为1 800万美元；公司分配了1000万美元的销售、一般和管理费用。

流动性

截至2020年7月28日，公司的流动资金总额约为11.25亿美元，其中包括约1.7亿美元的现金和9.55亿美元的ABL信贷额度。在第二季度，公司偿还了2.5亿美元的未偿ABL借款。

展望及市场评论

关于业务前景，Goncalves先生表示：“现在，我们在第二季度闲置的几乎所有设施都已恢复正常运营，在2020年下半年，我们将能够展示我们新的皇冠体育-克利夫斯足迹的潜力。由于需求增长速度比原先预期的更快、更稳定，我们很高兴在6月份录得调整后的息税折旧摊销前利润（EBITDA）为正，远远超过了我们在第二季度早些时候做出的初步预测。此外，我们预计第三季度的闲置成本将低于5000万美元，第四季度将达到最低水平，这将显著改善单位成本表现。从目前的市场情况来看，我们预计下半年自由现金流将为正，其中包括完成托莱多HBI项目所需的资本支出。”

今年剩余时间的资本支出预计为2.5亿美元，其中包括约1.1亿美元的剩余HBI支出和2500万美元的资本化利息。公司预计在今年下半年通过流动资金释放将产生超过1亿美元的现金。

电话会议信息

皇冠体育-皇冠体育斯公司将于皇冠体育官网东部时间2020年7月30日上午10点召开电话会议。电话会议将在皇冠体育斯的网站上直播并存档：www.alphaetomega.net

关于皇冠体育-皇冠体育斯公司

皇冠体育-克利夫斯成立于1847年，是北美最大的垂直整合的差异化铁矿石和钢铁生产商之一。该公司以非商品化产品为重点，具有独特的优势，可以为注重质量的客户群提供定制的铁矿石球团和钢铁解决方案。AK Steel是Cleveland-Cliffs的全资子公司，是一家领先的扁钢、不锈钢和电工钢产品生产商。AK管和精密合作伙伴业务为客户提供碳和不锈钢管产品，模具设计和工具，以及热冲压和冷冲压部件的解决方案。到2020年，Cliffs还预计将成为五大湖地区唯一的热压块铁（HBI）生产商。皇冠体育-克利夫斯总部位于俄亥俄州皇冠体育，在皇冠体育官网和加拿大拥有约11,000名员工，从事采矿和钢铁制造业务。更多信息，请访问www.alphaetomega.net或www.aksteel.com。

前瞻性陈述

This release contains statements that constitute "forward-looking statements" within the meaning of the federal securities laws. As a general matter, forward-looking statements relate to anticipated trends and expectations rather than historical matters. Forward-looking statements are subject to uncertainties and factors relating to our operations and business environment that are difficult to predict and may be beyond our control. Such uncertainties and factors may cause actual results to differ materially from those expressed or implied by the forward-looking statements. These statements speak only as of the date of this release, and we undertake no ongoing obligation, other than that imposed by law, to update these statements. Uncertainties and risk factors that could affect our future performance and cause results to differ from the forward-looking statements in this release include, but are not limited to: severe financial hardship, bankruptcy, temporary or permanent shutdowns or operational challenges, due to the ongoing COVID-19 pandemic or otherwise, of one or more of our major customers, including customers in the automotive market, key suppliers or contractors, which, among other adverse effects, could lead to reduced demand for our products, increased difficulty collecting receivables, and customers and/or suppliers asserting force majeure or other reasons for not performing their contractual obligations to us; uncertainty and weaknesses in global economic conditions, including downward pressure on prices caused by the COVID-19 pandemic, oversupply of imported products, reduced market demand and risks related to U.S. government actions with respect to Section 232, the USMCA and/or other trade agreements, treaties or policies; uncertainties associated with the highly competitive and highly cyclical steel industry and reliance on the demand for steel from the automotive industry; continued volatility of steel and iron ore prices and other trends, which may impact the price-adjustment calculations under certain of our sales contracts; our ability to successfully diversify our product mix and add new customers for our Mining and Pelletizing segment beyond our traditional blast furnace clientele; our ability to cost-effectively achieve planned production rates or levels, including at our HBI production plant currently under construction, and to resume full operations at certain facilities that are or were temporarily idled due to the COVID-19 pandemic; our ability to successfully identify and consummate any strategic investments or development projects, including our HBI production plant; the impact of our steelmaking customers reducing their steel production due to the COVID-19 pandemic, or increased market share of steel produced using methods other than those used by our customers, or increased market share of lighter-weight steel alternatives, including aluminum; our ability to maintain adequate liquidity, our level of indebtedness and the availability of capital could limit cash flow available to fund working capital, planned capital expenditures, acquisitions, and other general corporate purposes or ongoing needs of our business; our actual economic iron ore reserves or reductions in current mineral estimates, including whether any mineralized material qualifies as a reserve; the outcome of any contractual disputes with our customers, joint venture partners or significant energy, material or service providers or any other litigation or arbitration; problems or uncertainties with sales volume or mix, productivity, transportation, environmental liabilities, employee-benefit costs and other risks of the steel and mining industries; impacts of existing and increasing governmental regulation and related costs and liabilities, including failure to receive or maintain required operating and environmental permits, approvals, modifications or other authorization of, or from, any governmental or regulatory entity and costs related to implementing improvements to ensure compliance with regulatory changes; our ability to maintain appropriate relations with unions and employees; the ability of our customers, joint venture partners and third-party service providers to meet their obligations to us on a timely basis or at all; events or circumstances that could impair or adversely impact the viability of a production plant or mine and the carrying value of associated assets, as well as any resulting impairment charges; uncertainties associated with natural disasters, weather conditions, unanticipated geological conditions, supply or price of energy, equipment failures, infectious disease outbreaks and other unexpected events; adverse changes in interest rates, foreign currency rates and tax laws; the potential existence of significant deficiencies or material weakness in our internal control over financial reporting; our ability to realize the anticipated benefits of the merger with AK Steel and to successfully integrate the businesses of AK Steel into our existing businesses, including uncertainties associated with maintaining relationships with customers, vendors and employees, as well as realizing additional future synergies; additional debt we assumed or issued in connection with the merger with AK Steel, as well as additional debt we incurred in connection with enhancing our liquidity during the COVID-19 pandemic, may negatively impact our credit profile and limit our financial flexibility; changes in the cost of raw materials and supplies; supply chain disruptions or poor quality of raw materials or supplies, including scrap, coal, coke and alloys; disruptions in, or failures of, our information technology systems, including those related to cybersecurity; and unanticipated costs associated with healthcare, pension and OPEB obligations.

有关影响Cliffs业务的其他因素，请参阅截至2020年3月31日季度期间Cliffs的10-Q表格季度报告中的“风险因素”。

我们敦促您仔细考虑这些风险因素。

财务表如下

皇冠体育-皇冠体育斯公司子公司的非公认会计准则调整- ebitda和调整后的ebitda

除了按照皇冠体育官网公认会计准则提交的合并财务报表外，公司还在合并的基础上提交了EBITDA和调整后的EBITDA。EBITDA和调整后EBITDA是管理层在评估经营业绩时使用的非公认会计准则财务指标。这些指标的表述不应被视为与按照皇冠体育官网公认会计准则编制和表述的财务信息分离、替代或优于。这些指标的表述可能与其他公司使用的非公认会计准则财务指标不同。下表提供了这些合并措施与其最直接可比的GAAP措施的对账。

皇冠体育-皇冠体育斯公司子公司非公认会计准则调节解释

公司提出了每长吨的采矿和制球现金销售成本，这是管理层在评估经营业绩时使用的非公认会计准则财务指标。皇冠体育斯认为，销售货物的非公认会计准则现金成本的呈现对投资者有用，因为它不包括折旧、损耗和摊销（非现金）以及运费（对销售利润率没有影响），因此可以更准确地了解与铁矿石销售相关的现金流出情况。本措施的呈现不打算与以下内容分开考虑，也不打算替代或优于：按照皇冠体育官网公认会计准则编制和提供的财务信息。本指标的表述可能与其他公司使用的非公认会计准则财务指标不同。以下是对采矿和造粒部门销售商品成本的非公认会计准则财务措施的美元调节表。

在businesswire网站上查看源代码：https://www.businesswire.com/news/home/20200730005220/en/

媒体：Patricia Persico董事，企业传播（216）694-5316投资者：Paul Finan董事，投资者关系（216）694-6544

资料来源：Cleveland-Cliffs Inc。

2020年7月30日上映