NewsArticles
Minimize


May 28, 2014

Novelis: Net Income Declines in 'Transitional Year'
 
Novelis, the Atlanta-based aluminum maker, reported net income of $54 million for the fourth quarter of its 2014 fiscal year, down 8.4 percent from the same period the previous year. Full-year net income of $104 million was about half the total from fiscal year 2013.

"Fiscal 2014 was a transitional year for Novelis, and we closed it on a strong note," said Phil Martens, president and CEO. "We completed the majority of our business transformation initiatives to secure our leadership position in flat-rolled products for the global automotive and beverage can markets, and enhance our unmatched, low-cost recycling capabilities worldwide. Together these actions are driving both our top and bottom lines."

Net sales for the quarter totaled $2.5 billion, up 1.9 percent from the same quarter in fiscal year 2013. Full-year net sales of $9.8 billion were flat compared to 2013, with higher shipments offset by a 10 percent decrease in average aluminum prices and lower conversion premiums.

The company reported shipments of aluminum rolled products of 753 kilotonnes in the fourth quarter, up 8 percent compared to the prior year. Every global operating region reported an increase in shipments year-over-year. Higher global shipments were the primary driver behind the 4 percent increase in adjusted EBITDA versus the prior year to $250 million. For the full year, shipments increased 4 percent to 2,895 kilotonnes.

"While 2014 provided market challenges, particularly lower can sheet pricing and volatile market premiums for primary aluminum, we have positioned the company well for the future. Auto will accelerate this year as our key supplier role to Ford's new aluminum-intensive F-150 program will demonstrate," said Martens.

The company noted a number of accomplishments over the past year, including: generation of significant cash flow to fund capital investments; significant progress on all strategic expansions, including the ramp up of rolling production at Brazil and Korea mill expansions and the start of commercial production at U.S. automotive finishing lines; incremental investment of $205 million to further expand global auto finishing capacity to 900 kilotonnes annually; and expanded recycling capabilities in all regions. The company has set a goal of 80 percent recycled content in its products by 2020.

From the Editor's Desk
Minimize
June 2015: We All Have a Stake in the Energy Business
More...
 
Pause
Business Practices and Technologies
Minimize
June 2015: AISI: Import Surge Threatens U.S. Industry
More...
Summer 2014
More...
 
Pause
New Products
Minimize
Behringer Saws: HBE Series Features Automatic Adjustments
More...
Trumpf: TruLaser Increases Productivity
More...
Mazak Optonics Corp, new OPTIPLEX Fiber laser-cutting series with Zeta 9
More...
Cosen Saws: CNC-430, a fully automatic programmable band saw
More...
Pat Mooney: Danobat Band Saw Has Zone Cut Technology
More...
Red Bud Industries, Offers Heavy-Gauge Slitters
More...
 
Pause
Directories
Minimize
Metal Center News 2014 Directories: Print or Digital copies are available for $85 U.S. for each copy.
 

 
2014 Metal Distribution Directory  
(Not Published on This Web site)
Metal Center News' Spring Metal Distribution Directory is your on-line guide to Metal Producers, Equipment Manufacturers and Software companies.  



 
2014 Directory of Master Distributors
(Not Published on This Web site)
The Metal Center News Directory of Master Distributors—distributors who sell to other distributors—is an invaluable tool for service centers seeking new sources for special or hard-to-find products. Master distributors play an important role in the marketplace, giving service centers an alternative to buying in mill quantities and helping to remove redundant and excess inventories from the distribution channel.



 
2014 Directory of Toll Processors
(Not Published on This Web site)
Metal Center News' annual toll processing directory is a simple-to-use resource to help companies locate service providers that can meet their specific processing needs.


Privacy Statement  |  Terms Of Use
Copyright by Metal Center News



Monday, August 3, 2015