Novelis releases trading results for Q2 of the fiscal year 2015

Novelis has released its trading results for Q2 of the fiscal year 2015. Highlights from the release include:

• Net Income Increased 65% versus Prior Year to $38 Million
• Sales Increased 17% versus Prior Year to $2.8 Billion
• Adjusted EBITDA Increased 1% versus Prior Year to $230 Million
• Shipments Increased 7% versus Prior Year to 765 Kilotonnes

The company reported net income attributable to its common shareholder of $38 million for the second quarter of fiscal year. Excluding certain tax-effected items, net income was $42 million, an increase of 14% compared to the second quarter of fiscal year 2014.

The increase in adjusted EBITDA was primarily driven by higher shipments and cost benefits from using recycled metal inputs.

“Our solid earnings are a result of the execution of our long-term strategy to capture growth through added capacity and to lower costs through increased use of recycled materials,” said Phil Martens, President and Chief Executive Officer for Novelis. “We had record shipments of both can and automotive sheet in the second quarter, even before our new auto capacity in the U.S. and China began contributing to shipments. These auto facilities are now accelerating production to meet increasing customer demand for lightweight vehicles, including the new aluminum-intensive 2015 Ford F-150 pick-up truck.”