Century Aluminum Company - Interim information

Century Reports Third Quarter 2014 Financial Results

CHICAGO, IL--(Marketwired - October 29, 2014) - Century Aluminum Company
(NASDAQ: CENX) reported net income of $50.4 million or $0.52 per common share
for the third quarter of 2014 on higher aluminum prices and lower power prices
in the Midwestern U.S. 

Sales for the third quarter of 2014 were $500.6 million compared with $399.9
million for the third quarter of 2013. Shipments of primary aluminum for the
third quarter of 2014 were 218,214 tonnes compared with 212,797 tonnes shipped
in the third quarter of 2013. 

For the third quarter of 2013, Century reported a net loss of $9.5 million or
$0.11 per common share. Cost of sales for the year-ago quarter included a $5.8
million benefit for lower inventory costs and an $11.7 million benefit for
deferred power contract liability amortization. 

For the first nine months of 2014, the company reported net income of $50.6
million or $0.52 per common share. Cost of sales for the first nine months
included a benefit of $5.5 million related to power contract amortization and
$1.2 million for lower inventory costs. Results were negatively impacted by
$3.6 million for a legal settlement. 

Sales for the first nine months of 2014 were $1,379.8 million compared with
$1,053.1 million in the same period of 2013. Shipments of primary aluminum for
the first nine months of 2014 were 641,043 tonnes compared with 547,843 tonnes
for the comparable 2013 period. 

For the first nine months of 2013, the company reported a net loss of $30.6
million or $0.35 per common share. Results for the first nine months of 2013
were positively impacted by an unrealized gain of $16.2 million primarily
related to an LME-based contingent obligation, a gain on bargain purchase of
$5.3 million and deferred power contract liability amortization of $14.5
million. Results were negatively impacted by a non-cash charge of $3.3 million
for the early extinguishment of our 8.0% Senior Notes and a charge of $4.7
million for severance and other expenses related to our corporate headquarters
relocation. Cost of sales for the first nine months of 2013 included a $10.3
million charge for lower of cost or market inventory adjustments. "Global economic and capital market conditions remain volatile and somewhat
uncertain," commented Michael Bless, President and Chief Executive Officer."Markets have been buffeted by recent weakness in the euro zone economies and
by continuing soft data from China; various geopolitical concerns also continue
to weigh. In contrast, fundamental conditions in our markets appear robust. In
primary metal, we see incremental demand outstripping planned new supply for
the foreseeable future. The markets in which we participate are facing even
more acute shortages in the value-added products required to serve sectors
forecasting strong growth. It is in this context that we are targeting our
efforts."

Mr. Bless continued, "Our operations generally performed well during the
quarter. Safety performance continued to improve, though we are still running
below the excellent levels reached during the last few years. Power prices in
the U.S. Midwest continued their downward trend from the beginning of the year.
Plant operating performance was generally good, although Hawesville continued
to experience pot instability caused by the power modulations we experienced
several months ago. Hawesville's performance has improved during recent weeks.""We are excited about the pending acquisition of the remaining interest in Mt.
Holly," concluded Mr. Bless. "This is an excellent plant with a superb group of
employees, located in a great community. The challenge of a long-term electric
power structure remains, and we will be hard at work on this critical issue
over the coming months. Assuming an acceptable solution, we see Mt. Holly as
being well positioned to compete in the growing market opportunities in North
America. This acquisition will complement the developments at all of our
operating facilities as well as the hoped for restart of our smelter in
Ravenswood, WV."

About Century Aluminum

Century Aluminum Company owns primary aluminum capacity in the United States
and Iceland. Century's corporate offices are located in Chicago, IL. Visit
www.centuryaluminum.com for more information. 

Certified Advisors for the First North market of the OMX Nordic Exchange
Iceland hf. for Global Depositary Receipts in Iceland: 

Atli B. Gudmundsson, Senior Manager -- Corporate Finance, Landsbankinn hf.
Steingrimur Helgason, Director -- Corporate Finance, Landsbankinn hf.

Attachments:

CENTURYALUMINUM_8K_20141029.pdf