{"id":1492,"date":"2024-08-08T06:10:16","date_gmt":"2024-08-08T10:10:16","guid":{"rendered":"https:\/\/www.packagingindustrynews.com\/?p=1492"},"modified":"2024-08-08T06:10:16","modified_gmt":"2024-08-08T10:10:16","slug":"novelis-reports-2-increase-in-net-sales-for-q1-fy25","status":"publish","type":"post","link":"https:\/\/www.packagingindustrynews.com\/?p=1492","title":{"rendered":"Novelis reports 2% increase in net sales for Q1 FY25"},"content":{"rendered":"


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Novelis is a provider of sustainable aluminium solutions. Credit: T. Schneider via Shutterstock. <\/figcaption><\/figure>\n<\/p><\/div>\n

Sustainable aluminium solutions provider Novelis<\/a> has reported a 2% increase in net sales for the first quarter (Q1) of financial year 2025 (FY25), reaching $4.18bn, compared to $4.09bn in Q1 FY24.\u00a0\u00a0<\/p>\n

Despite this growth, net income attributable to the common shareholder saw a 3% decrease to $151m, compared to $156m in the same period last year.\u00a0<\/p>\n

This decrease in net income was attributed to initial charges from flooding at the company\u2019s Sierre, Switzerland, plant at the end of June, coupled with higher restructuring costs and an unfavourable metal price lag.\u00a0\u00a0<\/p>\n

However, when excluding special items, net income saw a significant increase of 32% year-over-year to $204m.\u00a0<\/p>\n

Adjusted earnings before interest, taxes, depreciation, and amortisation for the company showed a robust increase of 19% compared to the previous year, reaching $500m.\u00a0\u00a0<\/p>\n

This growth was primarily driven by higher volume and favourable product pricing, though it was partially offset by a less favourable product mix and increased costs.\u00a0<\/p>\n

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