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09 MAY 2019 AL CIRCLE

Novelis Q4 adjusted EBITDA up 12% YoY on higher shipments; flat rolled shipments up 8%

EDITED BY : HEENA IQBAL 2MINS READ

Novelis Inc., the world leader in aluminium rolling and recycling, published results for the fourth quarter and fiscal year 2019. Net income dropped 5.5% year-on-year to $103 million for the fourth quarter.  For the full year, net income came in at $434 million.

Excluding tax-effected special items, the company grew its full year net income by 11% to $468 million, and fourth quarter net income 29% to $130 million,  driven by a record Adjusted EBITDA for both the quarter and full year.

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Steve Fisher, President and Chief Executive Officer, Novelis, said: "Our year-end financial results are the best in company history, reflecting a continued focus on further improving operational efficiencies and customer centricity.”

Net sales stood at 3.1 billion for the fourth quarter of fiscal 2019, up 1% YoY. The increase was driven by higher total shipments, partially offset by lower average aluminium prices.  Shipments of flat rolled products increased 8% to 870 kilotonnes.

For the full year, net sales increased by 8% to $12.3 billion. Net sales rose eight percent to $12.3 billion. Shipments of flat rolled products increased to 3,274 kilotonnes.

 "It was also an important year in innovation, with the introduction of the first aluminium sheet battery enclosure, establishment of Customer Solution Centers and the development of new, high-strength alloys that will further enhance our existing portfolio of Advanz™ automotive products.  We are also continuing to deliver on our purpose of shaping a sustainable world by increasing the amount of recycled content in our products, reducing CO2 emissions across the supply chain and maximizing the advantages of sustainable, lightweight aluminium to benefit our customers, partners and the communities where we live and work."

Novelis grew its fourth quarter adjusted EBITDA by 12% to $357 million, and full year adjusted EBITDA 13% to $1.4 billion, driven by higher shipments, favourable product mix, and favourable metal costs, partially offset by lower can sheet prices.

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Aluminium Novelis

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EDITED BY : HEENA IQBAL 2MINS READ

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