ALRO Group’s turnover rises 12% YoY driven by higher aluminium prices during Jan-Sep 2018

ALRO, one of the largest vertically integrated aluminium producers, by capacity, in Europe, published its consolidated financial results for the first nine months of 2018.

ALRO Group turnover stood at RON 2.3 billion during January-September 2018, as compared to RON 2 billion during January-September 2017, on the background of favourable market conditions, yet challenging.

Net profit dropped 12.8% YoY to RON 224 million in the first nine-month period of 2018, from RON 257 million in in the same period of previous year.

Marian Năstase, Chairman of the Board of Directors of ALRO said: "We remained focussed on quality and overall efficiency of our operations, strategy that helped us report good results over the years and during these first nine months of 2018, as well, even though the market environment continued to reflect special conditions.”

 “In Q1-Q3 2018 we kept our attention on CAPEX investments with the aim to implement the best available technologies in all our business segments and thus, to reach our goal to increase supply of HVAP and VHVAPs to sophisticated industries”, added Marian Năstase.

The sales of primary aluminium increased to RON 974 million in the first nine-month period of 2018, from RON 870 million in Q1-Q3 2017; the same trend was reported for the processed aluminium sales which reached the level of RON 1,062 million in Q1-Q3 2018, from RON 1,056 million in Q1-Q3 2017.

Gross profit stood at RON 536 million, up from RON 507 million in the first nine months of the previous year.

In Q1-Q3 2018, the Group invested USD 62 million to increase production capacity in ALRO and ALUM.