It said consolidated sales grew 9% in 2018, to RON2.98 billion.
In the fourth quarter alone, Alro’s profit dropped by more than 90%, to RON9.17 million, while its sales grew 1%.
It said its operating profit stood at RON275.1 million in 2018 from RON396.7 million in 2017. Its fourth quarter operating profit dropped 65% on the year, to RON42.3 million.
Alro’s processed aluminum sales grew by RON164 million in 2018 compared with 2017, and by RON17.6 million on the year in the fourth quarter. Its primary aluminum sales grew 9% on the year in 2018, to RON1.25 billion, the company said in its earnings report.
Company shareholders approved in December 2018 a quarterly dividend pf RON0.45 per share, the equivalent of a 13% yield at that time.
Also in December, brothers Dragos and Adrian Paval, who own the DIY retail chain Dedeman, bought a 23.16% stake in Alro Slatina for RON495 million.
Alro’s main shareholder is Vimetco NV, with a stake of 54.18%, while Paval Holding owns 23.2%, and Fondul Proprietatea owns 10.2%.