Positive second quarter for Sapa
Sapa achieved improved results in the second quarter of the year due to increased volume and the positive effects of its restructuring programs.
Sapa had underlying EBIT of NOK 350 million in the second quarter, compared with NOK 211 million in the second quarter of last year. Operating revenues rose from NOK 10,974 million in Q2 2013 to NOK 11,544 million in the same period this year.
The increase in underlying EBIT for both the second quarter and first half of the year was largely driven by increased volume and the positive contribution from its restructuring programs. Sapa’s restructuring agenda is proceeding according to plan and reported EBIT has been affected by related restructuring charges.
Better in North America, Europe
Market demand for extruded aluminium products in North America rose 5 percent, compared to the second quarter of 2013, supported by growth in the automotive industry and the building and construction sector.
In Europe, demand increased by 2 percent, compared to Q2 2013. Higher automotive demand was somewhat offset by weak building markets in southern Europe.
Global demand for precision aluminium tubing continued to be driven by increased demand from the automotive sector.