Value added revenue was $736 million for the full year 2012, up 14% over 2011 and reflecting strong aerospace demand and improved pricing compared with the previous year.

Adjusted consolidated EBITDA was $174 million, up 56% on the 2011 figure of $111 million and setting a new record for Kaiser in 2012. Adjusted EBITDA margin on value added revenue was 23.6% compared to 17.3% in 2011.

Jack Hockema, Kaiser's president, CEO and chairman, said that the company's record figures for 2012 demonstrated a step-change in growth and performance. "Strong aerospace and automotive demand, improved pricing, increased overall operating leverage, and improved underlying manufacturing cost performance across our platform drove the significant change in results compared to 2011," he said.

According to Hockema, the results further demonstrated the value created by significant capital investment – made since 2006 – to increase capacity, enhance the company's capabilities, expand and differentiate its product offering, and improve manufacturing efficiencies.

"The underlying fundamentals of our aerospace and automotive end markets provide opportunity for continued long term growth," said Hockema.

"We have significant potential to continue to enhance our top line and bottom line operating performance," he said.