ALRO’s nine months sales down 10% due to COVID-19 pandemic; sales of primary products up 2%

ALRO, one of the largest vertically integrated aluminium producers in Europe, measured by production capacity, published its consolidated financial results for the nine months ended 30 September 2020.

The Group's sales were RON 1,942 million in nine months, down 10% due to market conditions and to the crisis caused by the COVID-19 pandemic. Net profit stood at RON 273 million in Q1-Q3 2020 from a loss of RON 23 million last year. The operating result (EBIT) increased to RON 355 million in due “to the implementation by the Romanian authorities of the EU-ETS compensation scheme based on the EU decision and receiving the subsidy in the form of a compensation for indirect emissions costs incurred by the Group as an energy-intensive consumer in 2019.”

“In Q3 we managed to ensure the continuity of our activities in safe conditions and economic productivity, while maintaining the same high quality and added value that define ALRO products. The tough market conditions made us stronger as we assumed measures such as the anti-crisis program that showed good results and improved cash flows. As promised, we maintained unchanged our strategy even though we are facing a new reality with new game rules”, said Marian NĂSTASE, Chairman of the Board of Directors, ALRO.

Sales of primary products increased by 2% due to wire rod sales in nine months period.

The Group sold more than 670 tonnes of billets in Q3 2020 due to the demand increase extruded division starting with September 2020 as the deliveries of profiles to the solar panels market increased. 

Sales of extruded products were higher by more than 3,500 tonnes in nine months, up 21% and by more than 1,400 tonnes in Q3 2020.Volume sales of processed products decreased slightly by 3% in nine months due to low demand for coils, in line with the reduced customers’ activity in the aerospace and automotive industries.