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Novelis Inc. (1304280) SEC Filing 10-K Annual Report for the fiscal year ending Thursday, March 31, 2022

SEC Filings

Novelis Inc.

CIK: 1304280

Exhibit 99.1
novelislogonewa26.jpg
News Release
Novelis Reports Fourth Quarter and Fiscal Year 2022 Results

Q4 Fiscal Year 2022 Highlights
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.”

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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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Inside this 10-K Annual Report

Audit Information
Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statement Of Shareholder's (Deficit) Equity
Consolidated Statement Of Shareholder's Equity (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income (Loss)
Consolidated Statements Of Operations
(Change In Benefit Obligation) (Details)
(Schedule Of Debt) (Details)
Accounting Policies (Tables)
Accounts Receivable
Accounts Receivable (Allowance For Doubtful Accounts Activity) (Details)
Accounts Receivable (Details Textual)
Accounts Receivable (Factoring Activities) (Details)
Accounts Receivable (Schedule Of Accounts Receivable) (Details)
Accounts Receivable (Tables)
Accrued Expenses And Other Current Liabilities
Accrued Expenses And Other Current Liabilities (Details)
Accrued Expenses And Other Current Liabilities (Tables)
Accumulated Other Comprehensive Loss
Accumulated Other Comprehensive Loss (Components Of Aoci) (Details)
Accumulated Other Comprehensive Loss (Tables)
Business And Summary Of Significant Accounting Policies
Business And Summary Of Significant Accounting Policies (Details Textual)
Business And Summary Of Significant Accounting Policies (Policies)
Business And Summary Of Significant Accounting Policies (Property, Plant And Equipment) (Details)
Business Combination
Business Combination - Amounts Allocated To Intangible Assets (Details)
Business Combination - Consideration Paid (Details)
Business Combination - Narrative (Details)
Business Combination - Pro Forma Financial Information (Details)
Business Combinations (Tables)
Business Combinations - Preliminary Allocation Of Purchase Price (Details)
Commitments And Contingencies
Commitments And Contingencies (Brazilian Tax Ruling) (Details)
Commitments And Contingencies (Details Textual)
Consolidation
Consolidation (Details)
Consolidation (Tables)
Currency Losses (Gains)
Currency Losses (Gains) (Included In Aoci) (Details)
Currency Losses (Gains) (Included In Other Expense (Income), Net) (Details)
Currency Losses (Gains) (Tables)
Debt
Debt (Abl Revolver) (Details)
Debt (Bank Loans) (Details)
Debt (Principal Payment Requirements) (Details)
Debt (Senior Notes) (Details)
Debt (Senior Secured Credit Facilities) (Details)
Debt (Short-Term Borrowings (Details)
Debt (Tables)
Debt (Term Loan Facility) (Details)
Debt (Zhenjiang Loans) (Details)
Discontinued Operations
Discontinued Operations (Details)
Fair Value Measurements
Fair Value Measurements (Details Textual)
Fair Value Measurements (Details)
Fair Value Measurements (Financial Instruments Not Recorded At Fair Value) (Details)
Fair Value Measurements (Reconciliation Of Fair Value Activity For Level 3) (Details)
Fair Value Measurements (Tables)
Financial Instruments And Commodity Contracts
Financial Instruments And Commodity Contracts (Details Textual)
Financial Instruments And Commodity Contracts (Details)
Financial Instruments And Commodity Contracts (Gain (Loss) Reclassification Summarization) (Details)
Financial Instruments And Commodity Contracts (Gain (Loss) Reclassification) (Details)
Financial Instruments And Commodity Contracts (Gain (Loss) Recognition) (Details)
Financial Instruments And Commodity Contracts (Impact On Aoci And Earnings) (Details)
Financial Instruments And Commodity Contracts (Notional Amount (In Kt)) (Details)
Financial Instruments And Commodity Contracts (Tables)
Goodwill And Intangible Assets
Goodwill And Intangible Assets (Amortization Of Intangibles) (Details)
Goodwill And Intangible Assets (Future Amortization Expense) (Details)
Goodwill And Intangible Assets (Goodwill) (Details)
Goodwill And Intangible Assets (Intangible Assets, Net) (Details)
Goodwill And Intangible Assets (Tables)
Income Taxes
Income Taxes (Deferred Tax Assets And Liabilities) (Details)
Income Taxes (Details Textual)
Income Taxes (Domestic And Foreign Components) (Details)
Income Taxes (Income Tax Provision) (Details)
Income Taxes (Reconciliation Of Statutory Tax Rates) (Details)
Income Taxes (Tables)
Income Taxes (Unrecognized Tax Benefits Reconciliation) (Details)
Income Taxes (Valuation Allowance) (Details)
Inventories
Inventories (Details)
Inventories (Tables)
Investment In And Advances To Non-Consolidated Affiliates And Related Party Transactions
Investment In And Advances To Non-Consolidated Affiliates And Related Party Transactions (Assets, Liabilities And Equity Of Equity Method Affiliates) (Details)
Investment In And Advances To Non-Consolidated Affiliates And Related Party Transactions (Details Textual)
Investment In And Advances To Non-Consolidated Affiliates And Related Party Transactions (Ownership Structure And Percentage Of Non-Consolidated Affiliates) (Details)
Investment In And Advances To Non-Consolidated Affiliates And Related Party Transactions (Period-End Account Balances With Non-Consolidated Affiliates) (Details)
Investment In And Advances To Non-Consolidated Affiliates And Related Party Transactions (Results Of Operations Of Equity Method Affiliates) (Details)
Investment In And Advances To Non-Consolidated Affiliates And Related Party Transactions (Tables)
Leases
Leases (Details Textual)
Leases (Future Minimum Lease Payments) (Details)
Leases (Lease Cost) (Details)
Leases (Schedule Of Assets And Liabilities Related To Leases) (Details)
Leases (Schedule Of Lease Information) (Details)
Leases (Supplemental Cashflow Information) (Details)
Leases (Tables)
Other Expense (Income)
Other Expense (Income) (Details)
Other Expense (Income) (Tables)
Postretirement Benefit Plans
Postretirement Benefit Plans (Actuarial Assumptions And Sensitivity Analysis) (Details)
Postretirement Benefit Plans (Change In Fair Value Of Plan Assets) (Details)
Postretirement Benefit Plans (Components Of Net Periodic Benefit Cost) (Details)
Postretirement Benefit Plans (Details Textual)
Postretirement Benefit Plans (Employer Contributions To Plans) (Details)
Postretirement Benefit Plans (Funded Status And Amounts Recognized) (Details)
Postretirement Benefit Plans (Future Benefit Payments) (Details)
Postretirement Benefit Plans (Pension Plan Assets) (Details)
Postretirement Benefit Plans (Pension Plan Obligations) (Details)
Postretirement Benefit Plans (Postretirement Amounts Recognized In Aoci) (Details)
Postretirement Benefit Plans (Postretirement Changes Recognized In Aoci) (Details)
Postretirement Benefit Plans (Tables)
Postretirement Benefit Plans (Target And Actual Allocation Percentages) (Details)
Property, Plant And Equipment
Property, Plant And Equipment (Asset Retirement Obligations (Details)
Property, Plant And Equipment (Depreciation Expense) (Details)
Property, Plant And Equipment (Details Textual)
Property, Plant And Equipment (Details)
Property, Plant And Equipment (Tables)
Restructuring And Impairment
Restructuring And Impairment (Details Textual)
Restructuring And Impairment (Restructuring Liability) (Details)
Restructuring And Impairment (Tables)
Segment, Geographical Area, Major Customer And Major Supplier Information
Segment, Geographical Area, Major Customer And Major Supplier Information (3 Largest Customers) (Details)
Segment, Geographical Area, Major Customer And Major Supplier Information (Details Textual)
Segment, Geographical Area, Major Customer And Major Supplier Information (Geographical Information - Assets) (Details)
Segment, Geographical Area, Major Customer And Major Supplier Information (Geographical Information - Net Sales) (Details)
Segment, Geographical Area, Major Customer And Major Supplier Information (Income From Reportable Segments) (Details)
Segment, Geographical Area, Major Customer And Major Supplier Information (Income Reconciliation) (Details)
Segment, Geographical Area, Major Customer And Major Supplier Information (Product Sales) (Details)
Segment, Geographical Area, Major Customer And Major Supplier Information (Purchases - Rta) (Details)
Segment, Geographical Area, Major Customer And Major Supplier Information (Selected Operating Results) (Details)
Segment, Geographical Area, Major Customer And Major Supplier Information (Tables)
Share-Based Compensation
Share-Based Compensation (Compensation Expense) (Details)
Share-Based Compensation (Details Textual)
Share-Based Compensation (Fair Value Assumptions) (Details)
Share-Based Compensation (Rsus Activity) (Details)
Share-Based Compensation (Sars Activity) (Details)
Share-Based Compensation (Tables)
Subsequent Events
Subsequent Events (Details)
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

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