Bulgarian aluminium products manufacturer Alcomet reports two-fold rise in revenue for Q1 2022

Alcomet a manufacturer of aluminium products from Bulgaria, after calculating the net profit, announced a steep increment in its first quarter. This year Q1 yielded 5.7 million levs or US$ 3.07 million in comparison to Q1 2021 which only could make 171,000 levs or US$106,300.

The prevailing war in Ukraine has amplified the disastrous effects of the Covid outburst resulting in price inflation of electricity, raw materials and commodities along with increased rates of transportation and logistics, Alcomet clearly explained.

Income generation of Alcomet grew twice in size on a year-on-year basis to 226 million levs for the first quarter through March from only 109 million levs one year back, the company declared in a financial statement issued last week.

While pondering over volume, we can see that Alcomet’s overall sales hiked 11.2 per cent to 23,959 tonnes in Q1 2022 because the previous year Q1 made a haul of only 21,546 tonnes. The aluminium extrusion industry also witnessed rising demand as sales grew by 10.5 per cent to 8,391 tonnes. Sales of aluminium rolled products expanded 11.6 per cent to rest at 15,568 tonnes.

The Q1 expenses of the company also surmounted the previous year’s cost which was 107.9 million levs while this year it came in at 218.2 million levs.

Alcomet’s output volume ratio grew by 2 per cent to 21,794 tonnes in the first quarter (January-March) of 2022. The volume of extruded products narrowed down by 0.3 per cent to 14,423 tonnes and rolled products had an output rise of 6.7 per cent to 7,551 tonnes.

During the period, January to March, Germany had the greatest market for the company’s products with an 18.4 per cent share of all sales, accompanied by Italy and Poland with 13.8 per cent and 10.8 per cent sales, respectively. Yet all these enigmatic nations’ sales combined could not outdo Q1 of 2021.

The company is a master in producing household, technical and container foils in addition to aluminium sheets and strips. Alcomet also commits to standard and customised profiling of products.