Sapa announces results for Q2 2017; the best quarterly performance in company history
Sapa, a joint venture of Norsk Hydro, yesterday announced result for the second quarter of 2017. The company’ EBIT for the second quarter stood at NOK 914 million, a significant improvement over the same period last year. Underlying EBIT for the first half of 2017 also improved compared to the same period in 2016.
The company said, “The increase was driven by a higher share of value-add business and internal improvements for all business areas.”
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Net interest-bearing debt stood at NOK 3.1 billion at the end of the quarter. The increase was “mainly reflecting dividend payments of NOK 3 billion to the owners.”
The total demand for extruded products in North America increased in the second quarter as compared to the first quarter of 2017 by 3.4 per cent. The increase for this quarter was mainly due the strong automotive demand and higher building and construction activities.
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The total demand for extruded products in Europe increased in the second quarter as compared to the first quarter of 2017 by 8.7 per cent. . The increase was driven by stronger automotive and transportation demand, as well as an improved building and construction market.
The demand for extruded products in Europe and North America increased compared to the same quarter in 2016 by 2.4 per cent and 2.6 per cent respectively.
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