* Q4 net loss $107 mln vs net profit $50 mln last year
* Q4 sales fall 12 pct
* Sees higher FY13 EBITDA
May 24 (Reuters) – Novelis, the U.S. unit of India’s largest
aluminum producer HindalCo Industries Ltd, posted a
quarterly loss, hurt by lower average aluminum prices and sales.
However, the company expects a rise in demand for
aluminum-rolled products in Asia, driven primarily by China,
over the next five years.
The Atlanta-based aluminum products maker forecast fiscal
year 2013 earnings before interest, taxes, depreciation and
amortization (EBITDA) above the $1.05 billion it reported in
2012.
For the fourth quarter, net loss attributable to common
shareholders was $107 million, compared with net profit of $50
million, last year.
Sales dropped 12 percent to $2.6 billion.
Shipments of aluminum-rolled products fell 4 percent, hurt
by soft demand in Europe.
