Alro reported a net adjusted loss of 78 million lei (EUR17.4 million) last year, after a net profit of RON123 million in 2012.
The company’s sales amounted to a little over RON2 billion (EUR457 million) in 2013, down 12% from RON2.3 billion in the previous year.
The financial results were influenced by two major factors in 2013, Alro’s statement reads, namely the “huge” costs with eco-taxes generated by the overcompensation scheme for the renewable energy sector and the continuous decline of aluminum prices on the international market.
Alro said its total costs with energy amounted last year to RON814 million, of which RON191 million for green certificates and the cogeneration tax. “Therefore, last year the final price for a megawatt-hour paid by Alro was double the European Union average,” the company said.
It also noted the average aluminum price on the London metal exchange fell to 1,845 $/ton in 2013, from 2,018 $/ton in the previous year.
As a result, Alro posted negative earnings before interest and tax (EBIT), of minus RON21 million, versus a profit of RON286 million in 2012.
Alro, a member of the Dutch-registered Vimetco group, said the production of primary aluminum stood at 250,000 metric tons in 2013, while the sales of processed aluminum increased to 71,000 tons, from 64,300 tons the year before.
On the Bucharest stock market Monday, Alro shares closed flat on the day, at RON1.45. (EUR1=RON4.4905)