Impol Seval: Serbian aluminium rolling mill’s profit drops in 2019
The Serbian aluminium rolling mill Impol Seval has made public that its net profit has dropped to Serbian Dinar 504.9 million ($4.7 million/4.3 million euro) in 2019 from Serbian Dinar 895.8 million dinars in the preceding year.
The company's revenue went up 10.4% to Serbian Dinar13.8 billion, whereas its operating costs increased to Serbian Dinar13.3 billion from Serbian Dinar 11.8 million, Impol Seval said in a bourse filing.
The Slovenian company Impol invested 7 million euro ($7.8 million) in Serbian blue-chip aluminium rolling mill Impol Seval and has invested about Euro 4 million in the aluminium plant in the first nine months of 2019.
In October 2002, the Serbian government sold a 70% stake in Impol Seval to Slovenia's Impol for a total of $6.5 million. Back then, the Slovenian investor assumed the obligation to invest Euro 14.6 million in production facilities.
Impol Seval recorded a net profit of Serbian Dinar 377.6 million ($3.6 million/3.2 million euro) in the first half of 2019, down from Serbian Dinar 396.6 million in the same phase previous year.
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