Novelis Inc., a Georgia-based industrial aluminum company, reported that the company’s net sales reached US$4.18 billion in the first quarter of the fiscal year 2025, growing by 2% compared to the same period a year ago, mainly driven by increased average price and higher total shipments during the period.
In the given period, the shipments of flat-rolled products increased by 8% year on year to 951,000 tons, greatly owing to normalized demand for beverage packaging sheets compared to a year-ago period when customers carried out destocking.
Meanwhile, the adjusted EBITDA was US$500 million, a year-on-year increase of 19%, supported by improved sales and favorable product pricing, though it was partially offset by a less favorable product mix and higher costs.
Novelis’ flat-rolled aluminum shipments increase in Q1 FY25
9 Aug 2024 15:41 reported by Joy Liu
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