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Alro, the largest aluminium producer, in terms of capacity, in Continental Europe (excluding Russia and the Scandinavian Peninsula), registered a net profit of RON 318 million, in 2017 compared to a net profit of RON 67 million, in 2016, a press release informs.
The adjusted net profit was of RON 355 million, in 2017, up from RON 101 million, registered in 2016. The company’s turnover also increased to RON 2.47 billion, from RON 2.13 billion, in 2016.
“Alro Group recorded the highest results in the last ten years, reflecting the improved operating activity that generated an EBITDA of RON 566 million. The Group’s turnover boosted as well, by 18 percent, being the result of our successful growth and development strategies, all along with our teams’ sustained efforts, while the market environment was a positive one in 2017”, said Marian Nastase, Chairman of the Board of Directors of Alro S.A.
According to him, this positive development was reflected by the capital market, as well, as the share price appreciated throughout the year, by 178 percent since the beginning of the year, Alro share being one of the top performers on Bucharest Stock Exchange.
In 2017, the international aluminium market environment was a positive one and the price of aluminium kept growing, with the LME average price being of USD 1,969/tonne, as compared to USD 1,605/tonne, in 2016. This upward trend reached higher levels in the last quarter of 2017, with an average price of USD 2,102/tonne, meaning USD 392/tonne more than in Q4 2016 when it stood at USD 1,710/tonne.
At the same time, the sales of processed aluminium increased from 77,000 tonnes in 2016 to 82,000 tonnes, in 2017, while primary aluminium sales slightly decreased to 151,000 tonnes from 154,000 tonnes in 2016.
In its turn, Alro Group achieved improved results, as well with a net profit of RON 391 million, compared to RON 71.5 million, in 2016. Group sales reached RON 2.7 billion, in 2017, an increased level compared to 2016, when they stood at RON 2.3 billion. The operating result of the Group appreciated, as well, amounting to RON 566 million, from RON 292 million, in 2016.
For the current year, as part of its investment strategy, the Group will continue to target a reduction in consumption rates and an increase in its operational efficiency. Thus, Alro’s stand-alone budget for 2018, as approved by the Ordinary Shareholders’ Meeting on 2 February 2018, stipulates a turnover of USD 663 million, an EBITDA of USD 94 million and a net profit of approximately USD 43 million.
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