Excluding the impact of non-operational metal price lag in both periods, Adjusted EBITDA was $212 million in the first quarter of fiscal 2016, down 9 percent compared to $233 million in the prior year. The decrease was primarily driven by higher costs associated with the start-up and support of new automotive finishing and recycling capacity, partially offset by favorable product mix due to a strategic shift to grow automotive shipments.
“We remain focused on the fundamentals of our manufacturing operations – growing our premium portfolio, managing costs and working capital, and driving operational excellence,” said Steve Fisher, President and Chief Executive Officer for Novelis.
