In 2013, the company reported a net loss of RON120.6 million.
Alro, the largest aluminum smelter in southeastern Europe, said its revenue rose 2% to almost RON2 billion, supported by an increase in sales of high value added products.
The net loss adjusted with asset impairments, the deferred tax and the gain/loss of financial instruments that do not qualify as hedge instruments widened last year to RON141.4 million. Alro considers the adjusted result, which stood at minus RON85.9 million in 2013, more relevant for its financial performance.
„The energy taxes, the low aluminum prices on the international markets and the significant appreciation of the US dollar, during a very short period of time, in December influenced our results and thus we continued to report losses this year, as well,” said Marian Nastase, President of Alro’s Board.
“However, we are confident that the recent measures to decrease by up to 85% the green certificates quota for the industry, which were approved at the end of 2014, will have a positive impact on our activity. These measures, together with the latest technologies implemented and with the efficiency increase measures, will allow us to continue our long-term development strategy”, Nastase added.
Alro, a unit of Dutch-registered holding Vimetco, said it continued to focus on developing the processed aluminum segment.
Last year, the total primary aluminum production was of 263,000 metric tons, while the processed aluminum production was of 78,000 tons, 7,000 tons more than in 2013, the company said in a statement. “In 2014, Alro registered an increase of the sales for the added value products, by 6,000 tons, while the primary aluminum segment reported similar sales as in 2013.”