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Aluminum May 13, 2021 02:20:11 PM

Novelis’ Record Fiscal Results Driven by Aleris Integration

Paul Ploumis
ScrapMonster Author
The net income from continuing operations of $180 million surged higher by 186% over the year.
Novelis’ Record Fiscal Results Driven by Aleris Integration

SEATTLE (Scrap Monster): Novelis Inc., the world leader in aluminum rolling and recycling reported fourth quarter and full fiscal year 2021 results. The record results were mainly driven by the ongoing successful integration of Aleris.

The company reported net income attributable to its common shareholder of $176 million in Q4 fiscal 2021, significantly higher by 179% from the prior year quarter. The net income from continuing operations of $180 million surged higher by 186% over the year.

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For the full fiscal year, the net income attributable to its common shareholder and net income from continuing operations were $236 million and $458 million respectively. The fiscal year free cash flow from continuing operations nearly doubled to $740 million, compared with $384 million in fiscal 2020.

Novelis Inc. reported several sustainability initiatives during the fiscal. It increased recycled content in its products to 61%. Moreover, the company has expanded its sustainability platform by committing to reduce its carbon footprint by 30% by 2026 and become net carbon-neutral latest by 2050.

Steve Fisher, President and CEO, Novelis Inc. noted that the company safely navigated this extraordinary year to achieve outstanding results. It is committed to deliver sustainable aluminum solutions to customers by pursuing growth opportunities through organic investment.