Sapa continues improvement in financial results
Sapa continued to improve its financial performance with a third quarter result that was significantly better than its result in the same quarter last year.
Underlying EBIT in the third quarter was NOK 404 million, compared with NOK 201 million last year. The increase was driven by positive contributions from improvement programs and restructuring efforts, strong North American demand, and positive currency effects.
Through the first nine months of 2015, underlying EBIT for Sapa was approximately 80 percent higher than in the same period last year. The improvement in underlying EBIT this year was influenced by the same factors, partly offset by negative effects from sharply falling metal premiums in North America.
Operating revenues rose by 20 percent in the third quarter, compared with the same period last year.
Strong automotive and truck demand
Demand for extruded aluminium products in North America grew 6 percent compared to Q3 2014, due to strong automotive and truck demand and a ramp-up of residential building and construction activity.
In Europe, demand increased by 2 percent compared to last year, but with a continued weak building and construction market.