Norsk Hydro(Sapa) announces results for the second quarter 2014
Sapa’s restructuring agenda is progressing according to plan and reported EBIT is affected by related restructuring charges.
| Key Figures - Sapa (50%) | Second quarter 2014 | First quarter 2014 |
| NOK million, except sales volumes | ||
| Revenue | 5 772 | 5 673 |
| Underlying EBITDA | 321 | 220 |
| Underlying EBIT | 175 | 78 |
| Underlying Net Income (loss) | 131 | 35 |
| Sales volumes (kmt) | 184 | 180 |
| Earnings before financial items and tax (EBIT) | 84 | (2) |
Market
Demand for extruded products in North America improved by 7 percent compared to the first quarter, mainly due to seasonality. Compared to the same quarter of the previous year, demand grew 5 percent, supported by automotive and building and construction. Extruded demand in South America continued to show signs of weakening.
In Europe, extruded products demand increased by 6 percent from the first quarter, primarily driven by seasonality. Demand improved 2 percent compared to the second quarter of 2013, supported by automotive, but somewhat offset by weak building markets in Southern-Europe.
Global demand for precision tubing continued to be driven by increased demand from the automotive sector.