Underlying EBIT for Sapa improved compared to the first quarter, partly influenced by seasonally stronger sales volumes.
Sapa`s restructuring agenda is progressing according to plan and reported EBIT is affected by related restructuring charges.
|Key Figures - Sapa (50%)||Second quarter 2014||First quarter 2014|
|NOK million, except sales volumes|
|Revenue||5 772||5 673|
|Underlying Net Income (loss)||131||35|
|Sales volumes (kmt)||184||180|
|Earnings before financial items and tax (EBIT)||84||(2)|
Demand for extruded products in North America improved by 7 percent compared to the first quarter, mainly due to seasonality. Compared to the same quarter of the previous year, demand grew 5 percent, supported by automotive and building and construction. Extruded demand in South America continued to show signs of weakening.
In Europe, extruded products demand increased by 6 percent from the first quarter, primarily driven by seasonality. Demand improved 2 percent compared to the second quarter of 2013, supported by automotive, but somewhat offset by weak building markets in Southern-Europe.
Global demand for precision tubing continued to be driven by increased demand from the automotive sector.
Contact Pål Kildemo
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Contact Halvor Molland
Cellular +47 92979797
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Source: Norsk Hydro via GlobeNewswire
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