Novelis stated that the current period’s net income includes $61 million in charges associated with the production interruptions at Sierre, as well as higher restructuring and impairment expense and lower operating performance, partially offset by a favorable change in metal price lag and unrealized derivatives year-over-year.

Net sales for the second quarter of fiscal year 2025 increased 5% versus the prior year period to $4.3 billion, mainly driven by higher average aluminum prices and a 1% increase in total flat rolled product shipments to 945 kilotonnes.

Adjusted EBITDA decreased 5% versus the prior year to $462 million in the second quarter of fiscal year 2025, primarily driven by less favorable metal benefit due to a relatively rapid increase in aluminum scrap prices, unfavorable product mix, and a $25 million impact at Sierre as a result of the flood. These factors were partially offset by higher beverage packaging shipments.

Adjusted EBITDA per tonne was down 6% year-over-year to $489.

Net cash flow provided by operating activities was $374 million in the first six months of fiscal year 2025 compared to $290 million in the prior fiscal year period, primarily due to favorable changes in working capital.

Novelis is a subsidiary of Hindalco Industries.

Hindalco Industries is an industry leader in aluminum and copper, and the metals flagship company of the Aditya Birla Group, a multinational conglomerate based in Mumbai.