Alcomet reports net loss in Q1; extruded sales up 5.8%

Alcomet, a Bulgaria-based company that is principally engaged in the production of aluminium rolled and extruded products, published a net loss in the first quarter of 2020. The company reported a net loss of 772,000 levs ($446,000/395,000 euro) in Q1, from a net profit of 3.6 million levs last year.

Alcomet said in an interim financial statement that its operating revenue stood at 95.2 million levs in the first three months of the year, down from 97.9 million levs in the first three months of last year.

Sales of extruded products increased by 5.8% year-on-year to 6,626 tonnes in Q1. Rolled products sale came in at 11,276 tonnes, down 2.3% year-on-year. Total sales rose to 17,902 tonnes, from 17,805 tonnes last year.

Despite the commissioning of new production plants, production remained virtually unchanged year-on-year at 16,914 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 around 95% of its production, mainly to Europe and the USA.