OSLO, Norway, July 15, 2016 (GLOBE NEWSWIRE) -- Underlying EBIT for Sapa increased compared to the previous quarter, mainly due to seasonally higher market demand and stronger margins.
Underlying EBIT for Sapa increased significantly compared to the same quarter of the previous year. Earnings improved across all business areas, driven by positive effects from improvement programs, increased share of value-add products and positive market developments. The second quarter last year was negatively influenced by sharply falling metal premiums in North America.
Underlying EBIT for the first half of 2016 improved compared with the same period in 2015, influenced by the same factors discussed above.
|Key Figures - Sapa (100%)||Second quarter 2016||First quarter 2016||Second quarter 2015||First half 2016||First half 2015||Year 2015|
|NOK million, except sales volumes|
|Operating revenues||14 071||13 905||14 484||27 976||28 535||55 252|
|Underlying EBITDA||1 132||901||799||2 033||1 504||2 729|
|Underlying EBIT||804||571||483||1 375||875||1 407|
|Sales volumes (kmt)||366||349||358||715||711||1 363|
|Reported EBIT||920||655||65||1 574||266||528|
Demand for extruded products in Europe and North America increased compared to the previous quarter by 4.5 percent and 3 percent, respectively, driven by seasonality.
Compared to the same period last year, market demand increased by 2.5 percent in North America and 1.5 percent in Europe. In North America, building and construction activity and automotive demand contributed positively. In Europe there were positive developments in automotive and transportation and a mixed picture in building and construction.
Going forward, a continued moderate market growth is expected in Europe, while certain market segments in North America show indications of flattening out. In both North America and Europe, aluminium substitution in the automotive industry is contributing positively. The second quarter is a seasonally strong quarter, and demand traditionally decreases in the third quarter.
Contact Stian Hasle
Cellular +47 97736022
Contact Halvor Molland
Cellular +47 92979797
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