12 AUGUST 2014Novelis Press Release
Novelis reports first quarter of fiscal year 2015 results
Edited by : AL CIRCLE
4 min read
Solid Operating Performance in Q1 Begins Year on a Strong Note
- Q1 Net Income Increased 150% versus Prior Year to $35 Million
- Q1 Adjusted EBITDA Increased 15% versus Prior Year to $235 Million
- Q1 Sales Increased 12% versus Prior Year to $2.7 Billion
- Q1 Shipments Increased 9% versus Prior Year to 770 Kilotonnes
- Portfolio Transformation Towards High-Recycled Content Premium Products Continues
Novelis, the world leader in aluminum rolling and recycling, today reported net income attributable to its common shareholder of $35 million for the first quarter of fiscal year 2015 compared to $14 million in the first quarter of fiscal year 2014. Excluding certain tax-effected items, net income was $30 million, up 43% compared to the first quarter of fiscal year 2014.
"Excellent plant productivity, strong winter results in South America boosted by World Cup beverage consumption, and good year-over-year demand trends drove a strong start to the new fiscal year," said Phil Martens, President and Chief Executive Officer for Novelis.
