Metalcorp Group reports revenue of EUR 228.7 million in the first half of 2020
Metalcorp Group, one of Europe’s leading independent producers of secondary aluminium ingots, reported revenue of EUR 228.7 million in the first half of 2020, from EUR 305.4 million in the first half of 2019. EBITDA stood at EUR 14.7 million, from EUR 17.1 million in the first half of 2019.
“The biggest impact – apart from lower market prices – came from the automotive business that led to a substantially reduced turnover in this segment in April and May 2020. Since June, a significant recovery has taken place. Aluminium production has been below budget but raw materials trade was up and zinc and copper were above expectations,” the company said.
The Group will start full scale commercial mining at its bauxite project this October, resulting in a significant increase in earnings during 2021.
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Based on current order intake, the company expects in the fiscal year 2020 an EBITDA in line or above 2019.
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