Diversifying ALRO Group's business model led to higher turnover in 1-3Q 2022
On November 14, 2022, ALRO S.A., one of Europe's largest vertically integrated aluminium producers, measured by production capacity, reported its consolidated financial results for the nine months that ended September 30 2022.
In 3Q 2022, the Group's turnover increased by 19% (1-3Q 2022: RON 2.9 billion vs RON 2.5 billion) with a decreasing trend, as aluminium quotations fell and demand slowed. In a challenging economic environment, the Group has scaled back certain production activities (primary aluminium and alumina) due to lower aluminium quotations and demand.
Marian NĂSTASE, Chairman of the Board of Directors, ALRO, said, “2022 brought the challenges faced by our industry to a new stress level, with the war closer to our borders than ever, with soaring power prices and scarcity of supply, slowing demand and huge markets volatility. In this tough context, we had to take drastic measures to reinvent and adapt our business model to this unprecedented context.
“And thus, to preserve our business and our place in the international aluminium industry, we temporarily disrupted the vertical integration model while still believing that this strategy remains a competitive advantage in the long run.”
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