Novelis Inc. 10K Annual Reports & 10Q SEC Filings

•Net income from continuing operations of $217 million, up 21% YoY; net income from continuing operations excluding special items was $189 million, up 10% YoY

•Record shipments of 987 kilotonnes, up from 983 kilotonnes prior year

•Adjusted EBITDA of $431 million, down 15% YoY primarily due to short-term operational cost challenges

Full Fiscal Year 2022 Highlights

•Record net income from continuing operations of $1.0 billion, up 122% YoY; net income from continuing operations excluding special items was $934 million, up 66% YoY

•Record shipments of 3,858 kilotonnes, up 7% YoY

•Record Adjusted EBITDA of $2.0 billion, up 19% YoY; Adjusted EBITDA per ton shipped reached $530, up 12% YoY

•Net leverage ratio improved to 2.2x, compared to 2.9x as of March 31, 2021

•Embarking on a transformational organic growth period to further strengthen our industry leading position; Announced today an approximately $2.5 billion greenfield, fully integrated rolling and recycling plant in the U.S. to support strong demand for aluminum beverage packaging and automotive solutions and advance a more circular economy

ATLANTA, May 11, 2022

– Novelis Inc., a leading sustainable aluminum solutions provider and the world leader in aluminum rolling and recycling, today reported results for the fourth quarter and full fiscal year 2022.

For the fourth quarter, net income attributable to its common shareholder increased 22% versus the prior year to $215 million, while net income from continuing operations increased 21% to $217 million. Excluding special items in both years, fourth quarter fiscal year 2022 net income from continuing operations increased 10% versus the prior year to $189 million.

For the full year, fiscal 2022 net income attributable to its common shareholder increased more than four-fold versus the prior year to $954 million, while net income from continuing operations more than doubled to $1.0 billion. Excluding special items in both years, fiscal year 2022 net income from continuing operations increased 66% to $934 million, driven mainly by higher Adjusted EBITDA.

"We achieved record full year results and crossed notable financial milestones for Adjusted EBITDA and net income, reflecting a continued focus on meeting strong customer demand for infinitely recyclable aluminum products while striving to advance our business and industry toward a more circular economy,” said Steve Fisher, President and Chief Executive Officer, Novelis, Inc. “Our market-leading position, strong underlying market demand, and history of success adding new capacity position us to embark on our next phase of strategic expansion to support our customers for the long term, and deliver on our purpose of shaping a sustainable world together by reducing carbon emissions across the supply chain.”

The following information was filed by Novelis Inc. on Wednesday, May 11, 2022 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Novelis Inc.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2022 10-K Annual Report includes:

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Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Material Contracts, Statements, Certifications & more

Novelis Inc. provided additional information to their SEC Filing as exhibits

Exhibit 10.10: Material Contract

Exhibit 21.1: Subsidaries Of The Registrant

Exhibit 31.1: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 31.2: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 32.1: Section 1350 Certification

Exhibit 32.2: Section 1350 Certification

CIK: 1304280
Form Type: 10-K Annual Report
Accession Number: 0001304280-22-000030
Submitted to the SEC: Wed May 11 2022 11:23:07 AM EST
Accepted by the SEC: Wed May 11 2022
Period: Thursday, March 31, 2022
Industry: Rolling Drawing And Extruding Of Nonferrous Metals