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AL CIRCLE

Novelis’ net sales increased 33% YoY in Q4; Shipments stand at 983 kilotonnes

EDITED BY : 2MINS READ

Novelis announced net income attributable to its common shareholder of $176 million in the fourth quarter of fiscal year 2021, and net income from continuing operations of $180 million, with a year-on-year increase of 179 percent and 186 percent, respectively.

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For the full fiscal, net income attributable to its common shareholder was $236 million, and net income from continuing operations was $458 million. That was down 44 percent and up nine percent, respectively.

Excluding special items in both years, fourth quarter fiscal 2021

Net income from continuing operations excluding special item was $172 million, up 12 percent on higher after-tax Adjusted EBITDA partially offset by higher depreciation and amortization associated with the acquired Aleris business.

"With the ongoing successful integration of Aleris, a diverse and innovative product portfolio, and unmatched geographic footprint, we have proven our ability to deliver sustainable aluminum solutions to customers in a way that resulted in record financial performance. Looking forward we will continue to pursue growth opportunities through organic investment, while working towards creating a more sustainable and circular future for our business, industry, and society,” said Steve Fisher, President and CEO, Novelis Inc.

For the fourth quarter of fiscal 2021, net sales increased 33 percent YoY to $3.6 billion, due to 21 percent increase in shipments, favorable product mix and higher average aluminium prices.

Total flat rolled product shipments increased to 983 kilotonnes, up 21% YoY “mainly reflecting the addition of the acquired Aleris business and record automotive and beverage can shipments, as well as continued strong demand for building and construction and other specialty flat rolled aluminium products.”

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Adjusted EBITDA stood at $505 million in the fourth quarter of fiscal 2021 compared to $383 million in the prior year period.  

For the full year fiscal, net sales increased nine percent to $12.3 billion on ten percent increase in total shipments. Total flat rolled product shipments increased to 3,613 kilotonnes. Adjusted EBITDA increased 16 percent to $1.7 billion.


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