Sapa shows healthy improvement in first half results
Sapa has improved its underlying EBIT result by more than 70 percent this year, from NOK 505.6 million in the first half of 2014 to NOK 874.7 million in the first half of 2015.
In the second quarter, Sapa’s underlying EBIT amounted to NOK 482.6 million, compared with NOK 350.4 million in Q2 2014. The increase was driven by strong North American demand, positive currency developments, and contributions from improvement programs and restructuring efforts.
The second quarter results were negatively impacted by restructuring costs related to Southern Europe and China, and unrealized derivative losses. Sharply falling metal premiums in North America also had a negative effect.
Demand for extruded aluminium products in North America in the second quarter was 8 percent higher than demand in Q2 2014, due to strong automotive and truck demand and a ramp-up of residential building and construction activity.
In Europe, demand in the second quarter was slightly above demand in the same period last year. Signs of improvement in some key segments were largely offset by weaker building and construction markets.