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Novelis achieves record sales and recycled content of 53%

Date: Thu, 14 May 2015 | Author: Paul Sanderson

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Major aluminium manufacturer Novelis has revealed it achieved record sales of $11.1 billion (£7 billion) in its fiscal year 2015.

In its results announcement, the company also said that it had reached an average of 53% recycled content in its products by the fourth quarter. For the year, this had increased to an average of 49%.

Over the period, the company saw net income rise to $148 million, which was a 42% rise on the $104 million on the same period in the previous year.

Adjusted EBITDA increased 2% to $902 million.

Novelis interim president and chief executive Steve Fisher said: “Fiscal 2015 was a successful year as we grew our portfolio of high-recycled, premium products. We achieved record total shipments, drove benefits from expanding low-cost recycling capabilities worldwide, and grew automotive shipments to record levels, strengthening our leadership position in this fast growing segment. While we are pleased with these achievements, the strengthening US dollar and declining local market metal premiums in the fourth quarter tempered our results.”

Category: Recycling
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