Real Industry, Inc. a holding company that focuses on the operations of Real Alloy Holding, Inc. (Real Alloy), which is engaged in aluminium recycling, reported financial results for the first quarter of FY 2017. The Company's segments include Real Alloy North America (RANA) and Real Alloy Europe (RAEU).
{alcircleadd}The RANA segment deals in aluminium melting, processing, recycling and alloying activities over approximately 20 facilities located in the United States, Canada and Mexico. The RAEU segment converts aluminium scrap, dross and other alloying agents, and supplies the recycled metal in ingot or molten form from approximately six facilities located in Germany, Norway and Wales.
Real Industry reported total revenues of $337.1 million in Q1 2017 in comparison to $309.4 million in revenues in the first quarter of 2016. The revenue increase was driven by Real Alloy’s aggregate 291,800 metric tonnes invoiced compared to 292,200 metric tonnes invoiced in Q1 2016. Real Industry reported a net loss of $11.3 million in the quarter ended March 31, 2017, or a loss of $0.43 per share.
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Real Alloy North America (RANA) reported revenues of $225.6 million on 196,600 tonnes invoiced during the first quarter of 2017. Compared to the prior-year period, total sales volume remained relatively flat, but revenues were higher by 12% driven primarily by an 8% shift in mix from tolling to buy/sell volume, which contributed substantially more revenue per tonne.
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