Norsk Hydro: Sapa (joint venture)- Announcement of results for the second quarter 2014
July 17 2014 - 1:09AM
Underlying EBIT for Sapa improved compared to the first quarter,
partly influenced by seasonally stronger sales volumes.
Sapa's restructuring agenda is progressing according to plan and
reported EBIT is affected by related restructuring charges.
Key Figures - Sapa (50%) |
Second quarter 2014 |
First quarter 2014 |
NOK million, except sales volumes |
|
|
Revenue |
5 772 |
5 673 |
Underlying EBITDA |
321 |
220 |
Underlying EBIT |
175 |
78 |
Underlying Net Income (loss) |
131 |
35 |
Sales volumes (kmt) |
184 |
180 |
Earnings before financial items and tax (EBIT) |
84 |
(2) |
Market
Demand for extruded products in North America improved by 7
percent compared to the first quarter, mainly due to seasonality.
Compared to the same quarter of the previous year, demand grew 5
percent, supported by automotive and building and construction.
Extruded demand in South America continued to show signs of
weakening.
In Europe, extruded products demand increased by 6 percent from
the first quarter, primarily driven by seasonality. Demand improved
2 percent compared to the second quarter of 2013, supported by
automotive, but somewhat offset by weak building markets in
Southern-Europe.
Global demand for precision tubing continued to be driven by
increased demand from the automotive sector.
Investor contactContact Pål KildemoCellular +47 97096711E-mail
Pal.Kildemo@hydro.com
Press contactContact Halvor MollandCellular +47 92979797E-mail
Halvor.Molland@hydro.com
Certain statements included within this announcement contain
forward-looking information, including, without limitation, those
relating to (a) forecasts, projections and estimates, (b)
statements of management's plans, objectives and strategies for
Hydro, such as planned expansions, investments or other projects,
(c) targeted production volumes and costs, capacities or rates,
start up costs, cost reductions and profit objectives, (d) various
expectations about future developments in Hydro's markets,
particularly prices, supply and demand and competition, (e) results
of operations, (f) margins, (g) growth rates, (h) risk management,
as well as (i) statements preceded by "expected", "scheduled",
"targeted", "planned", "proposed", "intended" or similar
statements.
Although we believe that the expectations reflected in such
forward-looking statements are reasonable, these forward-looking
statements are based on a number of assumptions and forecasts that,
by their nature, involve risk and uncertainty. Various factors
could cause our actual results to differ materially from those
projected in a forward-looking statement or affect the extent to
which a particular projection is realized. Factors that could cause
these differences include, but are not limited to: our continued
ability to reposition and restructure our upstream and downstream
aluminium business; changes in availability and cost of energy and
raw materials; global supply and demand for aluminium and aluminium
products; world economic growth, including rates of inflation and
industrial production; changes in the relative value of currencies
and the value of commodity contracts; trends in Hydro's key markets
and competition; and legislative, regulatory and political
factors.
No assurance can be given that such expectations will prove to
have been correct. Hydro disclaims any obligation to update or
revise any forward looking statements, whether as a result of new
information, future events or otherwise.
This information is subject of the disclosure requirements
pursuant to section 5-12 of the Norwegian Securities Trading
Act.
HUG#1828010
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