Alcomet Reports Falling Sales, Profits

Bulgaria’s aluminium rolled and extrusions producer Alcomet published first half-year results showing a decrease in sales and revenue. The company exports the vast majority of its products to Germany, Italy and Spain.

Alcomet’s non-consolidated net profit fell to 2.8 million euros in the first half of this year compared to 4.1 million euros in the same period in 2018. In the same period, the company’s revenue dropped from 100.1 million euros to 94.3 million euros.

The company’s sales volumes declined by 3 per cent compared to last year. The manufacturer shipped 12,223 metric tonnes of extruded products in the first half of this year up from 12,038 metric tonnes shipped in 2018. In the same period, rolled products sales fell to 21,599 metric tonnes from 22,798 metric tonnes shipped in the first half of 2018.

Output also declined to 33,968 metric tonnes of rolled and extruded products in the first half of 2019, compared to 34,999 metric tonnes the year before. Extruded products output rose to 11,681 metric tonnes from 11,397 metric tonnes, and production of rolled products fell to 22,287 metric tonnes from 23,602 metric tonnes.

Alcomet is one of the major aluminium producers in the Balkans and offers a variety of foils, sheets, strips and profiles, and exports almost the entirety of its output to other EU countries. The company’s only plant is located in the north east of Bulgaria 100 km from the Black Sea port of Varna.