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18 MAY 2018 AL CIRCLE

Romanian aluminium company Alro posts 39% profit increase in Q1 2018

EDITED BY : HEENA IQBAL 2MINS READ

Alro S.A., one of the largest vertically integrated aluminium producers, by capacity in Europe, announces consolidated financial results for the first quarter of 2018. Its net profit stood at RON 125 million in Q1 2018, up 39% from RON 90 million in Q1 2017.The Group's turnover increased 10% to RON 749 million, from RON 681 million in Q1 2017.

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The Group reported primary aluminium sales of 33,000 tonnes in Q1 2018, up 6% from 31,000 tonnes in the same period last year. Processed aluminium sales stood at 27,000 tonnes in Q1 2018, down 7% from 29,000 tonnes in Q1 2017.

"In the first quarter of 2018 we continued to implement our strong investment programme aimed at improving the output and products’ quality, while reducing the overall consumption rates",said Marian Năstase, Chairman of the Board of Directors of ALRO. 

"While we acknowledged the significant improvement of aluminium quotation and its positive impact on our financial results, we need to take all the necessary measures to maintain our organization as lean as possible. This strategy helped us when the LME registered major drops and also brings us significant added value for all our stakeholders each time the market prices increase".

The Group pursued its long-term development strategy, investing in Q1 2018 about RON 41 million in new technology and processes aimed at increasing the overall efficiency.


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EDITED BY : HEENA IQBAL 2MINS READ

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