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ALRO’s Net Profits Drops 29 Per Cent, Sales Increase Slightly In 2018

 

Romanian aluminium company ALRO published its consolidated and separate financial full-year results for 2018 showing a net profit decrease of 29 per cent. Meanwhile, the company’s turnover saw a slight increase thanks to favourable market conditions and sales mix.

 

The company – one of the biggest vertically integrated aluminium producers in Europe by production capacity – reported a net profit of RON 233 million in 2018 compared to RON 391 million in 2017, while the adjusted net profit stood at RON 227 million in 2018 compared to RON 355 million in the same period of previous the previous year.

 

ALRO’s primary aluminium sales went up from 151,000 tonnes in 2017 to 153,00 tonnes in 2018. At the same time, the company’s processed aluminium sales saw a decrease from 82,000 tonnes in 2017 to 78,000 tonnes in 2018.

 

“We are currently taking our development plan one step forward, focusing most of our efforts on supplying high and very high value added aluminium products, for exclusive markets, where quality of products and consistency in supply are key factors”, commented Marian Nastase – Chairman of the Board of Directors of ALRO.

 

“Last year, we continued to invest heavily in state-of-the-art technology that will support our goal to increase the production of sophisticated aluminium products, in line with our customers’ demand. This strategy not only helps us meet our financial goals, but also consolidates our position in the aerospace and automotive industries”, added Marian Nastase.

 

ALRO said its main focus would be on increasing the quality and mix of its products, in particular high-value added products and very high value-added products. Throughout 2018, ALRO continued its long-term investment programme. The company invested EUR 68.5 million towards its goal of reaching a production capacity of 120,000 tonnes of processed aluminium by 2022.

 

ALRO – established in 1961 in Romania’s southern city of Slatina – is one of the largest vertically integrated aluminium producers in Europe. The company produces primary and processed aluminium and extruded products. Over 80 per cent of ALRO’s production is sold internationally.

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