OSLO, Norway, July 17, 2014 (GLOBE NEWSWIRE) -- Underlying EBIT for Sapa improved compared to the first quarter, partly influenced by seasonally stronger sales volumes.
Sapa's restructuring agenda is progressing according to plan and reported EBIT is affected by related restructuring charges.
|Key Figures - Sapa (50%)||Second quarter 2014||First quarter 2014|
|NOK million, except sales volumes|
|Revenue||5 772||5 673|
|Underlying Net Income (loss)||131||35|
|Sales volumes (kmt)||184||180|
|Earnings before financial items and tax (EBIT)||84||(2)|
Demand for extruded products in North America improved by 7 percent compared to the first quarter, mainly due to seasonality. Compared to the same quarter of the previous year, demand grew 5 percent, supported by automotive and building and construction. Extruded demand in South America continued to show signs of weakening.
In Europe, extruded products demand increased by 6 percent from the first quarter, primarily driven by seasonality. Demand improved 2 percent compared to the second quarter of 2013, supported by automotive, but somewhat offset by weak building markets in Southern-Europe.
Global demand for precision tubing continued to be driven by increased demand from the automotive sector.
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