Alro Group’s turnover increased to RON749 million in the first quarter from RON681 million in the same period last year.
“In the first quarter of 2018 we continued to implement our strong investment program aimed at improving output and product quality while reducing overall consumption rates,” said company board chairman Marian Nastase.
“While we acknowledged the significant improvement of aluminum 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,” he added.
In the first quarter of 2018, the international aluminum market continued the trend registered in the second half of 2017 and aluminum quotation and demand grew significantly, with the LME average quotation being of $2,159/ton compared with $1,851/ton in the first quarter in 2017.
Alro’s total sales reached RON749 million ($198 million) in the first quarter, compared with RON681 million ($180 million) in the same period last year.
The group invested about RON41 million in new technology and processes aimed at increasing overall efficiency in the first quarter.
On 27 April 2018, Alro informed its shareholders and investors about the distribution of dividends for the financial year 2017, when a gross dividend amounting to RON0.53523/share was approved.
Alro is subsidiary of Vimetco N.V., a global, vertically-integrated primary and processed aluminum producer. Alro is one of the largest vertically integrated aluminum producers, by capacity in Europe with an installed production capacity of 265,000 tons per year.
The companies part of Alro Group are: Alro – the aluminum producer, Alum S.A. – the alumina producer, Sierra Mineral Holdings I, Ltd. – the bauxite mining company, Vimetco Extrusion S.R.L. – extrusion processing business line, Conef S.A. – ALRO share portfolio management, Global Aluminium Ltd. – holding entity and Bauxite Marketing Ltd. Having this structure, the Group created an integrated production chain, assuring the raw materials for Alro.