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29 MARCH 2019 AL CIRCLE

ALRO’s net profit drops 29% in 2018; primary aluminium sales slightly up

EDITED BY : HEENA IQBAL 2MINS READ

ALRO S.A., one of the largest vertically integrated aluminium producers in Europe by production capacity, published its consolidated and separate financial full-year 2018 results. The company’s net profit decreased from RON 318 million in 2017 to RON 226 million in 2018. The adjusted net profit registered RON 227 million in 2018, from RON 355 million in 2017.

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ALRO reported primary aluminium sales of 153,000 tonnes in 2018, up from 151,000 tonnes in 2017. The processed aluminium sales slightly decreased to 78,000 tonnes in 2018, from 82,000 tonnes.

ALRO Group’s net profit stood at RON 235 million in 2018, down from RON 391 million in 2017. The Group registered the adjusted net profit of RON 250 million. Turnover increased to almost RON 3 billion in 2018.  EBITDA margin was above 16%, with a level of RON 486 million in 2018, from RON 566 million last year.

Marian NASTASE, Chairman of the Board of Directors of ALRO SAID: "Moreover, in 2018, we remained focused on our long-term strategy of becoming a Green Factory, Next Generation Factory, Innovating and Sustainable and we continued to invest in state-of-the-art technology. We kept our focus on highly sophisticated products for aircraft and automotive industries, and along with higher aluminium prices, we managed to improve our revenues and report a 9% higher Group’s turnover in 2018. The capital market recognized our strong business strategy and ALRO’s share price increased by 150% since the beginning of 2017 ".

“In respect of the other Group’s subsidiaries, during 2018, in SMHL, our bauxite subsidiary we managed to obtain a higher production by 9%, while in Alum, the alumina production increased by almost 21% in 2018, as compared to 2017 and Vimetco Extrusion continued to be one of the main choices for extruded products clients in 2018”, the company said.


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EDITED BY : HEENA IQBAL 2MINS READ

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