US: Novelis’ net income increases more than 20% y-o-y in Q4FY’22

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The world’s leading aluminium flat-rolled products manufacturer, Novelis Inc., has released its fourth quarter results for FY’22.
The company’s net income went up by 21% y-o-y to $217 million. Shipments were recorded at 987,000 t in Q4’22 and 3.86 mnt in the fiscal year, up 7% y-o-y.
Adjusted EBITDA was down 15% y-o-y in Q4 to $431 million, due to short-term operational cost challenges, SteelMint learnt from sources.

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