Alcomet reports drop in net profit in January-September; rolled and extruded output marginally up

Alcomet, a Bulgaria-based company that is principally engaged in the production of aluminium rolled and extruded products, reported a drop in non-consolidated net profit in the first nine months of 2019.

Net profit dropped from 12.0 million levs in January-September 2018 to 8.3 million levs ($4.7 million/4.2 million euro) in January-September, Alcomet said in an interim financial statement. Revenue stood at 273.7 million levs in the first nine months of 2019, down from 288.2 million levs in the first nine months of 2018.

Sales of extruded products increased 3.8% year-on-year to 18,042 tonnes in January-September period of 2019. Rolled products sale came in at 32,884 tonnes in the period under review, down 1% year-on-year.

Germany accounted for 24.3% share of all sales. It was followed by Italy with 14.7% and Poland with 10.4%.

The company produced 51,598 tonnes of rolled and extruded products in the first nine months of 2019, an increase of 0.5%. Production of extruded products increased from 16,773 tonnes to 17,414 tonnes, while rolled output reduced from 34,554 tonnes to 34,184 tonnes.

Alcomet offers a broad range of aluminium semi-finished products – household, technical and container foils, finstock, sheets and strips, as well as standard and customized aluminium profiles. The company exports 95% of its production, mainly to Europe and the USA.