Sapa’s results improve in first quarter
Underlying EBIT for Sapa improved in the first quarter of this year, compared to the first quarter of 2014.
The improvement was driven by strong North American demand, the effects of improvement programs and restructuring activities, and positive currency development. In addition, the results for Sapa's precision tubing operations progressed, supported by growth in global automotive demand.
Sapa’s restructuring agenda continues to be ahead of plan, with limited restructuring charges affecting reported EBIT for the quarter.
The demand for extruded aluminium products in North America increased by 11 percent compared to the same quarter last year, driven by strong automotive demand and increased building and construction activity.
In Europe, demand was stable compared to the first quarter of last year.
Demand for extruded products is expected to be seasonally higher in the second quarter. Compared to the second quarter of last year, demand in Europe is expected to remain stable while the strong development in North America is expected to continue.