Alro posts net profit of RON 67 mln in 2016 after four consecutive years of losses

Alro, the largest aluminium producer in Continental Europe (excluding Russia and Scandinavia), has posted a net profit of RON 67 million in 2016 vs a net loss of RON 24 million in 2015. The adjusted net profit stands at RON 101 million in 2016 vs RON 45 million in 2015.

Marian Nastase, President of the Board of Alro said, “Even if 2016 was a year marked by an unstable macroeconomic climate and lower aluminium prices at international level, it was an important year in Alro’s history, being the first year with a profit after four consecutive years of losses.”

As per company’s data, the turnover registered a decline of 2.1 billion from RON 2.3 billion in last year. The EBITDA level stands at RON 247 million in 2016 compared to RON 224 million in 2015.

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The company gives credit to its investment on value added products and cost saving initiatives by optimizing the production processes in 2016.

Marian said, “The successful finalization of the European Commission’s investigation in respect of Alro’s contracts signed with the electricity producer Hidroelectrica and the implementation of the exemption scheme for the big electricity consumers from paying a percentage of 85% of the green certificates mandatory quota, contributed as well to the Company’s sustainable growth.”