Novelis' Full Fiscal Year Results Hit New Peak

SEATTLE (Scrap Monster): Atlanta-headquartered aluminum rolling and recycling major Novelis, Inc. posted record results for fourth quarter and full fiscal year 2019. The company reported notable jumps in net sales, shipments and adjusted EBITDA over the previous year. In addition, the company achieved key operational milestones during this period.

Novelis reported net income attributable to common shareholder of $103 million during the fourth quarter. The adjusted EBITDA and net sales stood at $357 million and $3.1 billion respectively. During fiscal year 2019, the company posted net income attributable to common shareholder of $434 million. The adjusted EBITDA and net sales of $1.4 billion and $12.3 billion respectively, were significantly higher over the previous fiscal. Novelis generated free cash flow of $408 million during fiscal year 2019.

As part of strategic efforts to boost its capacity and capabilities, the company reached definitive agreement with Aleris Corporation toward purchase of its assets for nearly $2.6 billion. Further, it began construction works on capacity expansions in the U.S., China and Brazil. It also acquired operating facilities and manufacturing assets in Switzerland.

Steve Fisher, President and Chief Executive Officer, Novelis, Inc. noted that the year-end financial results were the best in company’s history. The company aims to drive future sustainable growth through various measures including increased recycled content in its products and reduced carbon emission across supply chains.