Sapa Group announces results for the fourth quarter 2013

Underlying EBIT for Sapa Group for the fourth quarter 2013 reflects a seasonally weaker quarter and charges related to impairment of inventories and accounts receivables.

Key Figures – Sapa (50%)
NOK million, except sales volumes                 Fourth quarter 2013
Revenue                                                             5,066
Underlying EBITDA                                            (22)
Underlying EBIT                                                 (170)
Underlying Net Income (loss)                              (140)
Sales volumes (kmt)                                            157
Earnings before financial items and tax (EBIT)     (393)

Total volume for Sapa was somewhat higher compared to fourth quarter last year. Sapa’s restructuring agenda is progressing according to plan and reported EBIT is affected by related restructuring charges. Net debt at the end of Q4 was NOK 1.8 billion (100% basis).

Demand for extruded aluminium products in North America increased in the fourth quarter of 2013 compared to fourth quarter of 2012, mainly supported by growth in the automotive and building segments. Within the transport and industrial segments demand was stable.

In Europe, demand for extruded products was stable. Demand in the automotive market segment improved while demand for the transport, renewable energy and building segments weakened.  Demand for the building and construction industry remained weak in Southern Europe in particular.

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