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04 FEBRUARY 2021 AL CIRCLE

‘Alcomet’ in Bulgaria posts standalone net loss of €1.8 million

EDITED BY : RUPANKAR MAJUMDER 1MINS READ

Bulgarian manufacturer of rolled and extruded aluminium products ‘Alcomet AD’ posted a standalone net loss of 3.8 million levs (€1.8 million) in 2020 from a net profit of 8.6 million levs in 2019.

 ‘Alcomet’ in Bulgaria posts standalone net loss

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In an annual financial statement, Alcomet stated that the revenue generation shrunk to 348.1 million levs from 352.1 million levs in 2019.

Alcomet's sales rose by 10.7% to 65,739 tonnes in terms of volume, as sales of extruded products increased by 16.6% to 26,491 tonnes, while sales of rolled products added 7.6% to 46,288 tonnes.

 ‘Alcomet’ in Bulgaria posts standalone net loss

In 2020, the company’s largest export market was Germany, with a 23.4% share of all sales, followed by Poland and Italy with 14.5% and 13.5%, respectively.

However, the output volume increased by 7% to 73,512 tonnes in 2020. The volume of extruded products rose to 26,388 tonnes from 23,049 tonnes a year earlier, while rolled products production shot up to 47,124 tonnes from 45,435 tonnes.

Report on Global Aluminium Industry Outlook 2021

The company also introduced a new 2,500-tonne press in 2020. Alcomet produces household, technical and container foils, sheets and strips, as well as standard and customized profiles.


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EDITED BY : RUPANKAR MAJUMDER 1MINS READ

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