SMM8, March 8 / PRNewswire-FirstCall-Asianet / Aleris reported a net loss of $47 million in the second quarter, compared with a net loss of $2 million in the second quarter of 2017. The loss was attributable to adjustments to corporate debt financing. After adjustment, the company's profit before depreciation and amortization (EBITDA) increased to $85 million from $66 million in the second quarter of 2017. Strong demand in North America, a significant improvement in operating performance, a good metal market environment, and an increase in global car production have contributed to the company's performance.
In the second quarter of 2018, Aleris's capital expenditure was $21 million, compared with $55 million in the second quarter of 2017. The company expects revenue in the third quarter of 2018 and earnings before adjusted depreciation amortization to be significantly higher than in the third quarter of 2017.
Revenue from the North America Division increased to $72 million in the second quarter of 2018 from $31 million in the second quarter of 2017. Division adjusted earnings before depreciation and amortization also increased to $55 million from $36 million in the second quarter of 2017.
Revenue from the Europe division rose to $42 million in the second quarter of 2018, compared with $35 million in the second quarter of 2017. Division adjusted earnings before depreciation and amortization were $34 million, compared with $35 million in the second quarter of 2017.
Asia Pacific Division revenue increased from $4 million in the second quarter of 2017 to $7 million in the second quarter of 2018. Division adjusted profit before depreciation amortization increased to $6 million from $4 million in the second quarter of 2017.
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