The company’s turnover grew 13.4% in the first half, to RON1.3 billion, from RON1.1 billion in the first half of 2016.
“Our sustained efforts done in the past years to continue investing in equipment upgrading and streamlining the production flows are now reflected in these positive results, significantly improved profit margins and the company’s ability to generate liquidity. The last five years have been difficult and during this time we have had to struggle in unfavorable market conditions with stricter regulations. Nowadays, in the context of improved market conditions, with a higher level of aluminum price and an increasing demand, we have managed to transform the efforts made in the last years into profits,” said Marian Nastase, president of Alro’s board.
In the first half of 2017, the aluminum price on the London Metal Exchange continued to record a growth trend, with an average $1,880/ton compared with an average $1,544/ton in the first half of 2016.
Alro’s sales grew 13.4% in the first half compared with the year-earlier period.
The company reported an EBITDA of RON227.47 million, almost double compared with the first half of 2016, and has allocated an investment budget of $41 million for this year.
Alro is a subsidiary of Vimetco N.V., a global, vertically-integrated primary and processed aluminum producer. Alro is the largest aluminum producer in Continental Europe (except for Russia and Scandinavia) with an installed production capacity of 265,000 tons per year.