Novelis Posted Dramatic Drop in Profits During Q2 FY 2025

SEATTLE (Scrap Monster): Novelis, Inc. reported results for the second quarter of fiscal year 2025.

The company's $128 million net income attributable to common shareholders represents a dramatic 18% decrease from the same quarter last year. Additionally, the net income attributable to its shareholders, which does not include exceptional items, decreased by 1% to $179 million.

In the second quarter of fiscal year 2025, adjusted EBITDA dropped 5% from the previous year to $462 million. Adjusted EBITDA per tonne also decreased 6% year over year to $489.

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The quarter's net sales reached $4.3 billion, a 5% rise over the same period last year. Higher average aluminum prices and a little rise in shipments of all flat rolled products were the primary causes of the higher sales. During the quarter, 945 kilotonnes of shipments were made.

As of September 30, 2024, Novelis reported having $2.1 billion in total liquidity.

According to Steve Fisher, president and CEO of Novelis Inc., the company shipped a record amount of beverage packaging during the quarter. He emphasized that the corporation is still dedicated to achieving carbon neutrality by 2050.