Company: CENX
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0000949157-25-000024
Chunk: 16

Company: CENTURY ALUMINUM CO
Filing Date: 2025-03-03
Form: 10-K
Item: Item 1A
Chunk 16
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Item 1A.  Risk Factors

The following describes certain of the risks and uncertainties we face that could materially and adversely affect our business, financial condition and results of operation, and cause our future results to differ materially from our current results and from those anticipated in our forward-looking statements. These risk factors should be considered together with the other risks and uncertainties described in Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations and elsewhere herein. This list of material risk factors is not all-inclusive or necessarily in order of importance.

Risk Factor Summary

Risks Related to our Industry and Business

•Declines in the market price (including premiums) for primary aluminum

•Excess capacity and overproduction of aluminum

•Increases in energy costs and loss or disruption of our supply of power

•Inability to compete 

•Impact of future pandemics

•Curtailment of our production capacities and/or aluminum reduction facilities

•Inability to realize benefits from capital projects

•"Take-or-pay" obligations under our raw material and services contracts 

•Small customer base 

•Requirement to maintain substantial resources for operations

•Exposure to political, economic, regulatory, currency and other risks related to our domestic and international operations

•Unpredictable events affecting operations

•Impact of our hedging transactions

•Complexity of Jamalco business

•Risks of Jamalco Joint Venture structure

•Risks related to material weaknesses and ineffective internal controls over financial reporting

9

Risks Related to Labor and Employees

•Failure to maintain stable and productive labor relations

Risks Related to Indebtedness and Financing

•Deterioration in our credit rating or financial condition

•Failure to generate sufficient cash flow for debt service requirements

•Levels of indebtedness and/or any future indebtedness

•Interest rate risk

•Covenants and restrictions in debt instruments

•Dependence on intercompany transfers

•Potential dilution of ownership interests upon conversion of the Convertible Notes

•Impact of accounting method for settlement of Convertible Notes 

•Effect of the capped call transactions on Century stock and value of notes and related counterparty risk

Risks Related to Cybersecurity

•Failure of IT systems, network disruptions, cyber-attacks, and other security data breaches

Risks Related to Legal, Regulatory and Compliance Matters

•Effects of climate change, climate change legislation and/or environmental regulations 

•Effects of environmental, health and safety laws and regulations 

•Effects of trade laws or regulations