Alro reported a turnover of RON1.58 billion, compared with RON1.77 billion in the first nine months of 2015, the company said in a statement.
“We kept our focus on increasing the quality of our products and of the output mix, while implementing measures for reducing the overall costs. Moreover, once the tax distortion on electricity was eliminated, we could focus our efforts towards improving our technology, while targeting new markets to export our production,” said Marian Nastase, president of Alro’s board.
The aluminum quotation on the international markets significantly impacted the company’s financial results, generating lower sales value, despite higher sales volume. The average aluminum price on the London Metal Exchange (LME) was of $1,570/ton in the first nine months, compared with an average of $1,717/ton in the first nine months of 2015.
The company said it increased its sold quantities by 4%, mainly thanks to higher sales of aluminum billets, as part of its strategy to focus on high and very high value added products.
It also continued the investments program in its operations efficiency and in reducing specific consumption. Alro started in September a project co-funded by the Regional Development European Fund, which involves investments in the R&D Department aiming at improving the research infrastructure for the aluminum alloy heat treated plates with high qualification industrial applications.
In 2016, Airbus, the leading aircraft manufacturer, selected Alro as a provider for aluminum. The agreement is for a multi-year period, starting 2017.
Alro is 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.