Alro Posts Adjusted Net Profit Of RON93M In 1Q/2017

Its net profit reached RON78 million in the first three months of 2017, from RON27 million in the same interval a year before.

This year saw a continuous upward trend in aluminium prices on the London Metal Exchange (LME), which started in the second half of 2016, underpinned by events pointing to a slowdown in the growth rate of the global aluminium supply, in different parts of the world (such as the United States and Australia) and mainly in China.

In the first quarter of 2017, the income from primary aluminium sales rose 9% on the year, while processed aluminium sales saw an increase of 16%.

Alro’s investments reached RON31 million in January-March 2017, from nearly RON18 million in the year-earlier interval, and targeted mainly investments co-financed from the European Regional Development Fund, the reconditioning of electrolytic tanks and other works for maintaining and enhancing the existing equipment. In 2017, Alro will accelerate investments in technological modernization and increasing its operational efficiency, according to the company’s budget of $41 million approved for 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.

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