Global – Aluminium rolling and recycling specialist Novelis raised the average recycled content of its products by three percentage points to 49% in its financial year ended March 31 2015, achieving a record rate of 53% in the final quarter.
According to the company’s latest results package, another highlight of 2014/15 was its launch of evercycle – dubbed ‘the world’s first independently-certified, high-recycled-content specialty sheet’.
‘Fiscal 2015 was a successful year as we grew our portfolio of high-recycled, premium products,’ comments Novelis’ interim president and ceo Steve Fisher. ‘We achieved record total shipments, drove benefits from expanding low-cost recycling capabilities worldwide, and grew automotive shipments to record levels, strengthening our leadership position in this fast-growing segment.’
The company reported a net income of US$ 148 million for the 2014/15 financial year – an increase of 42% over the US$ 104 million recorded in 2013/14. Adjusted EBITDA grew 2% to US$ 902 million, primarily driven by higher shipments, a favourable product mix owing to a strategic shift to grow automotive shipments and ‘cost benefits from using a higher percentage of recycled metal inputs’.