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Broad-based profit growth for Sapa in Q1

Sapa further improved its underlying EBIT in the first quarter of 2017, compared to the same period last year, ending the quarter at NOK 778 million and is continuing to see growth in all business areas. 

Group performance

Sapa further improved its underlying EBIT in the first quarter of 2017, compared to the same period last year, ending the quarter at NOK 778 million. The increase was driven by a higher share of value add business and internal improvements for all business areas, as well as higher volumes in Europe. All business areas improved their underlying EBIT. Net interest bearing debt at the end of the first quarter amounted to NOK 0.3 billion.

Market development

In North America, total demand for extruded products increased by 1.7 percent (1) 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 was declining.

In Europe, total demand for extruded products increased by 1.8 percent1 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 Q1 2017 vs Q4 2016

Underlying EBIT for the first quarter increased compared to the previous quarter, in line with general seasonality in the industry.Demand for extruded products in Europe and North America increased compared to the previous quarter by 10.9 percent and 11.1 percent respectively, driven by seasonality.

Key financials for the group

Sapa

Q1
2016

Q2
2016

Q3
2016

Q4
2016

Q1
2017

Volume (kmt)

349

366

340

310

355

Total operating revenues (mNOK)

13 905

14 071

13 140

12 210

14 323

Underlying EBITDA (mNOK)

901

1 132

812

653

1 100

Underlying EBIT (mNOK)

571

804

487

335

778

Reported EBIT (mNOK)

655

920

497

350

856

 Key financials by business area

Extrusion Europe

Q1
2016

Q2
2016

Q3
2016

Q4
2016

Q1
2017

Volume (kmt)

148

157

142

130

154

Total operating revenues (mNOK)

5 366

5 468

4 932

4 565

5 553

Underlying EBITDA (mNOK)

349

425

276

221

390

Underlying EBIT (mNOK)

223

304

154

97

274

Extrusion North America

Q1
2016

Q2
2016

Q3
2016

Q4
2016

Q1
2017

Volume (kmt)

150

155

149

131

150

Total operating revenues (mNOK)

5 265

5 234

5 183

4 617

5 514

Underlying EBITDA (mNOK)

414

362

361

199

437

Underlying EBIT (mNOK)

315

263

260

89

330

Building Systems

Q1
2016

Q2
2016

Q3
2016

Q4
2016

Q1
2017

Volume (kmt)

19

21

18

19

20

Total operating revenues (mNOK)

1 869

1 939

1 680

1 685

1 830

Underlying EBITDA (mNOK)

110

210

104

109

155

Underlying EBIT (mNOK)

75

166

67

74

119

Precision Tubing

Q1
2016

Q2
2016

Q3
2016

Q4
2016

Q1
2017

Volume (kmt)

37

40

37

35

36

Total operating revenues (mNOK)

1 620

1 664

1 549

1 543

1 651

Underlying EBITDA (mNOK)

144

169

135

161

180

Underlying EBIT (mNOK)

86

112

76

103

123

Other and eliminations

Q1
2016

Q2
2016

Q3
2016

Q4
2016

Q1
2017

Volume (kmt)

 (6)

 (6)

 (6)

 (5)

 (5)

Total operating revenues (mNOK)

 (215)

 (234)

 (203)

 (201)

 (225)

Underlying EBITDA (mNOK)

 (116)

 (33)

 (64)

 (37)

 (63)

Underlying EBIT (mNOK)

 (127)

 (41)

 (69)

 (28)

 (69)

 


 1) Source CRU data