Sapa shows year-on-year improvement in third quarter
Sapa’s underlying financial results in the third quarter were lower than in the previous quarter, partly due to seasonally lower sales volumes in Europe, but were considerably higher than in the third quarter of last year.
Sapa had underlying EBIT of NOK 201 million in the third quarter (NOK 350 million in Q2), compared with NOK 24 million in the third quarter of 2013.
Operating revenues increased from NOK 10,798 million in the third quarter of last year to NOK 11,603 million in Q3 2014.
While the seasonally lower sales volumes in Europe impacted the Q3 results, demand increased by 1 percent compared to the third quarter of 2013. This was supported by growth within the automotive market segment.
In North America, extruded aluminium products demand rose by 7 percent compared with the third quarter last year. Higher activity in both the automotive and building segments supported the growth.
The global demand for aluminium tubing continued to be driven by increased demand from the automotive sector.
Sapa’s restructuring agenda is proceeding according to plan and reported EBIT in the third quarter was affected by related restructuring charges.