Novelis net income jumps 186%
Novelis reported its financial and production results for the fourth quarter and full year of 2021 this week.
The rolled aluminium firm saw its fourth quarter net income jump to 186% to $180million.
Net income from continuing operations less special items rose 12% on 2019’s fourth quarter to US$172 million.
Net sales rose for the year ending on March 30 to US$12.3 billion, better by 9% than 2019.
Flat-rolled product shipments increased to 3,613 kilotons, while adjusted EBITDA for the year rose by US$200 million to US$1.7 billion.
“Guided by our purpose and driven by the resilience of our people and the strength of our partnerships, we safely navigated this extraordinary year to achieve outstanding results,” said Steve Fisher, President and CEO, Novelis Inc.
“With the ongoing successful integration of Aleris, a diverse and innovative product portfolio, and unmatched geographic footprint, we have proven our ability to deliver sustainable aluminium solutions to customers in a way that resulted in record financial performance.
“Looking forward we will continue to pursue growth opportunities through organic investment, while working towards creating a more sustainable and circular future for our business, industry, and society.”
For full details on the results, visit the Novelis website.
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