Record quarterly result for Sapa in Q2
Sapa improved its underlying EBIT in the second quarter of 2017, compared to the same period last year, ending the quarter at NOK 914 million. The quarterly result is the best in Sapa's history.
The increase was driven by a higher share of value-add business and internal improvements for all business areas.
Underlying EBIT for the first half of 2017 improved compared to the same period in 2016, influenced by the same factors as discussed above.
Net interest-bearing debt increased to NOK 3.1 billion at the end of the quarter, mainly reflecting dividend payments of NOK 3 billion to the owners.
In North America, total demand for extruded products increased by 2.6 percent compared to the same quarter last year. The increase was driven by stronger automotive demand and higher building and construction activities whereas demand from commercial transportation declined.
In Europe, total demand for extruded products increased by 2.4 percent compared to the same quarter last year. Europe experienced stronger automotive and transportation demand, as well as an improved building and construction market.
Developments in Q2 2017 vs Q1 2017
Underlying EBIT for the second quarter increased compared to the previous quarter, in line with general seasonality in the industry but also related to improved performance.
Demand for extruded products in Europe and North America increased compared to the previous quarter by 8.7 percent and 3.4 percent respectively, driven by seasonality.