Tredegar Corporation’s subsidiary Bonnell Aluminum didn’t fare as well in 2019 than it did in the preceding year.
The soft-alloy and medium-strength aluminum extrusions company’s sales volume decreased by 7pc to 208.2mn lb (94,460mt) last year from 223.8mn lb the year before. During Q4 2019, Bonnell’s sales volume declined by 17.4pc to 50.1mn lb from 60.7mn lb during the same quarter in the previous year. According to Tredegar’s Q4 2019 earnings report, lower bookings and industry data demonstrated softening across key markets.
Bonnell’s net sales in 2019 decreased by 7.6pc to $529.6mn from $573.1mn in 2018. During the fourth quarter of last year, the company’s net sales fell by 18.6pc to $124.3mn from $152.7mn in Q4 2018.
However, Bonnell reported a slightly higher EBITDA, which increased by 0.3pc to $65.7mn from $65.5mn in 2018. During Q4 2019, the company’s EBITDA decreased by 18.9pc to $14.5mn from 17.8mn during the same quarter in the previous year.