SMM7, March 30: Caesar Aluminum (Kaiser Aluminum) reported results for the second quarter and first half of 2019, with shipments of 318 million pounds in the first half of this year, down 5.3 percent from 335 million pounds in the first half of last year.
The decline in shipments superimposed a fall in sales prices, with net sales of $375 million in the second quarter of this year, down from $415 million in the same period last year. Profit before tax, interest, depreciation and amortization in the second quarter was $48 million, down $7 million from a year earlier. Value-added revenue for the quarter was $210 million, down $1 million from a year earlier.
But Jack A. Hockema, chairman and chief executive of Kaiser Aluminum, said expectations for the full year of 2019 remained unchanged, and despite the normal weakness in consumption in the second half of 2019, the company was very optimistic about the development of the automotive industry in 2020-2021. The company expects EBITDA profit margins to exceed 25 per cent this year, but shipments and value-added revenues will fall to single-digit growth from a year earlier. "Company financial statements
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