28 AUGUST 2013www.balkans.com
Romania’s aluminum producer Alro reports a loss in first semester
Edited by : AL CIRCLE
1 min read
Romania’s Alro, a subsidiary of aluminum producer Vimetco, reported a loss of RON 17 million (EUR 3.8 million) in the first semester against a profit of RON 26 million (EUR 6 million) in the same period of last year, citing high energy costs and disappointing aluminum prices that reached fresh lows.
Alro’s turnover lost 9.5 percent to RON 1.06 billion (EUR 241 million) and the producer reported a slight decrease in primary aluminum sales to 71,168 tons. Sales of processed products, meanwhile, climbed to 36,711 tons.
Marian Nastase, board chairman at Alro, said the results were impacted by factors outside the aluminum industry.“The overall energy costs, including the eco taxes, continued to put pressure on the Company’s final results. Moreover, the aluminum prices on the international market are reaching new minimum levels. Forced to face this complex and unfavorable context, Alro implemented new solutions to cut costs and kept its focus on highly processed products, in order to maintain its competitiveness,” said Nastase.
Alro’s turnover lost 9.5 percent to RON 1.06 billion (EUR 241 million) and the producer reported a slight decrease in primary aluminum sales to 71,168 tons. Sales of processed products, meanwhile, climbed to 36,711 tons.
Marian Nastase, board chairman at Alro, said the results were impacted by factors outside the aluminum industry.“The overall energy costs, including the eco taxes, continued to put pressure on the Company’s final results. Moreover, the aluminum prices on the international market are reaching new minimum levels. Forced to face this complex and unfavorable context, Alro implemented new solutions to cut costs and kept its focus on highly processed products, in order to maintain its competitiveness,” said Nastase.
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