In the first six months of 2012, Alro posted a net profit of RON26 million.
The results are computed under IFRS and and are adjusted for expenses with asset amortization, with derivatives that do not qualify for hedge accounting and with other external factors, the company said in its financial report.
“Alro’s financial results for the first half continue to be influenced by external factors outside our control,” said Marian Nastase, deputy chairman in Alro’s board of directors.
He said the company’s activity was affected by higher energy costs and low aluminum prices in international markets.
Alro’s sales declined 8.6% on the year to RON1.06 billion in the first half, from RON1.16 billion in the year-ago period.
Raw aluminum output reached 124,648 tons, slightly up from 124,567 tons in the first six months of 2012. The company processed 37,869 metric tons of aluminum, compared with 34,227 metric tons in the corresponding period last year.
Dutch-based Vimetco controls 84.19% of Alro’s shares, while the remaining shares are distributed among various holders.
Tuesday, Alro closed down 0.57% at RON1.571 in Bucharest. (EUR1=RON4.425)