Metals and Mining
Company Overview of Novelis Inc.
Novelis Inc. produces and sells aluminum rolled products. It operates through four segments: North America, Europe, Asia, and South America. The company produces aluminum sheet and light gauge products primarily for use in the beverage and food can, and foil products, as well as in automotive, transportation, electronics, architectural, and industrial product markets. It is also involved in the primary aluminum smelting and hydroelectric power generation activities in Brazil. The company was founded in 2004 and is headquartered in Atlanta, Georgia. Novelis Inc. is a subsidiary of AV Metals Inc.
3560 Lenox Road
Atlanta, GA 30326
Founded in 2004
Key Executives for Novelis Inc.
Chief Executive Officer and President
Interim Chief Financial Officer
Senior Vice President and President of Novelis Europe
Senior Vice President and President of Novelis North America
Senior Vice President and President of Novelis South America
Compensation as of Fiscal Year 2015.
Novelis Inc. Key Developments
Novelis Opens New Aluminum Automotive Heat Treatment Line in Europe to Deepen Commitment to Global Automakers
Nov 18 15
Novelis celebrated the opening of a aluminum automotive heat treatment line in Nachterstedt, Germany, to serve European and global automotive customers. Located adjacent to Novelis' existing rolling mill and the large aluminum recycling center, the $85 million investment will increase production capacity by 120,000 metric tons of automotive sheet annually. At full production, this line will increase Novelis' European automotive sheet capacity to 350,000 metric tons per year and will provide global customers with high-quality automotive sheet, including the Novelis Advanz portfolio of alloys used in lightweight vehicle structures and body panels. With this expansion, the company widens its global manufacturing operations to serve the rapidly growing automotive market. The technology used in the new Nachterstedt finishing line is identical to that of the lines recently commissioned in the United States and China, providing Novelis' global customers with the high level of quality and consistency regardless of location.
Novelis Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended September 30, 2015; Provides Capital Expenditure and Free Cash Flow Guidance for the Fiscal Year 2016
Nov 9 15
Novelis Inc. reported unaudited consolidated earnings results for the second quarter and six months ended September 30, 2015. For the quarter, the company reported net sales of $2,482 million compared to $2,831 million a year ago. Loss before income taxes was $16 million compared to income before income taxes of $36 million a year ago. Net loss attributable to common shareholder was $13 million compared to net income attributable to common shareholder of $38 million a year ago. Adjusted EBITDA was $182 million compared to $230 million a year ago. Free cash flow was $140 million compared to negative free cash flow of $108 million a year ago. Capital expenditures were $75 million compared to $126 million a year ago.
For the six months, the company reported net sales of $5,116 million compared to $5,511 million a year ago. Loss before income taxes was $61 million compared to income before income taxes of $95 million a year ago. Net loss attributable to common shareholder was $73 million compared to net income attributable to common shareholder of $73 million a year ago. Net cash used in operating activities $63 million compared to $13 million a year ago. Capital expenditures were $204 million compared to $264 million a year ago. Adjusted EBITDA was $309 million compared to $465 million a year ago. Free cash flow was negative $285 million.
The company expects to spend approximately $400 million on capital expenditures in fiscal year 2016. The company is confident in achieving positive free cash flow for the full year.
Novelis Inc. to Report Q2, 2016 Results on Nov 09, 2015
Nov 2 15
Novelis Inc. announced that they will report Q2, 2016 results at 8:00 AM, US Eastern Standard Time on Nov 09, 2015
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