Novelis Reports Fourth Quarter and Full Fiscal Year 2021 Results
Strong operational performance and ongoing successful Aleris integration drive record fiscal year
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Q4 and Fiscal Year 2021 Highlights
Q4 net income from continuing operations of $180 million, up 186% YoY; Q4 net income from continuing operations excluding special items of $172 million, up 12% YoY
Q4 shipments of 983 kilotonnes, up 21% YoY
Q4 Adjusted EBITDA of $505 million, up 32% YoY; Q4 Adjusted EBITDA per ton shipped of $514, up 9% YoY
Full year free cash flow from continuing operations of $740 million, up 93% YoY
Rapid reduction in net leverage ratio to 2.9x, from 3.8x at acquisition close in Q1FY21
Novelis Reports Third Quarter Fiscal 2021 Results
Achieved record financials as a result of expanded business post-acquisition and outstanding operational performance to meet robust demand for innovative, sustainable aluminum solutions
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Q3 Fiscal Year 2021 Highlights
Net income from continuing operations of $195 million, up 82% YoY; excluding special items, net income of $209 million
Shipments of 933 kilotonnes, up 17% YoY
Adjusted EBITDA of $501 million, up 46% YoY
Adjusted EBITDA per ton of $537, up 25% YoY
Focus on deleveraging resulted in net leverage ratio improvement to 3.3x from 3.8x at acquisition close
Integration work continues with $54 million run-rate acquisition cost synergies achieved through end of Q3