COMPANY
COMPANY History Mission and vision Board of Directors Management Structure Value Chain
INDUSTRIES
INDUSTRIES Aerospace Auto & Maritime Construction General Engineering Cables and power supply Electronic
PRODUCTS
PRODUCTS
Primary Aluminium Flat Rolled Products CutSmart Systems Sales Contacts
Energy Recycling Products Certifications
SUSTAINABILITY
SUSTAINABILITY Sustainable Aluminium Promoting Recycling Environmental Social Policies, Reports and Certifications
INVESTOR RELATIONS
INVESTOR RELATIONS
Key Financials Reports Presentations Equity Story Events Share Information News
Shareholder Meetings Financial Calendar Corporate Governance Public Offer 2018 Notification of Transactions IR Contact
CAREERS
CAREERS Job Opportunities Career Fairs
MEDIA
MEDIA Press Releases Media Library
CONTACT
Search
ALRO
EN
Back
News

ALRO Group reports stable results and a turnover growth by 12%, in Q1-Q3 2018

Thu, 11/15/2018 - 09:02

Financial and operational information

  • Turnover up by 12% to RON 2.3 billion in Q1-Q3 2018, compared to RON 2 billion in Q1-Q3 2017, on the background of favourable market conditions, yet challenging
  • Gross profit of RON 536 million in Q1-Q3 2018, compared to RON 507 million in Q1-Q3 2017            
  • Net profit of RON 224 million in Q1-Q3 2018, compared to RON 257 million in Q1-Q3 2017                                         
  • USD 62 million invested in Q1-Q3 to increase production capacity in ALRO and ALUM

Slatina, 15 November 2018 – ALRO S.A. (BSE: ALR, “the Company” or “ALRO”), one of the largest vertically integrated aluminium producers, by capacity, in Europe, announces today its consolidated financial results for the first nine months of 2018. During the period under review, ALRO Group turnover increased to RON 2.3 billion, compared to RON 2 billion, in Q1-Q3 2017, while the net profit decreased to RON 224 million in the first nine-month period of 2018, from RON 257 million in in the same period of previous year.

"We remained focussed on quality and overall efficiency of our operations, strategy that helped us report good results over the years and during these first nine months of 2018, as well, even though the market environment continued to reflect special conditions”, said Marian Năstase, Chairman of the Board of Directors of ALRO. “In Q1-Q3 2018 we kept our attention on CAPEX investments with the aim to implement the best available technologies in all our business segments and thus, to reach our goal to increase supply of HVAP and VHVAPs to sophisticated industries”, added Marian Năstase.

During the nine-month period of 2018, higher aluminium prices were reported, with an LME average quotation of 2,157 USD/tonne (Q1-Q3 2017: 1,924 USD/tonne), which led to a higher Group's turnoverby RON 251 million (Q1-Q3 2018: RON 2,296 million compared to Q1-Q3 2017: RON 2,045 million). The primary aluminium salesincreased to RON 974 million in the first nine-month period of 2018 from RON 870 million in Q1-Q3 2017; the same trend was reported for the processed aluminium saleswhich reached the level of RON 1,062 million in Q1-Q3 2018, from RON 1,056 million in Q1-Q3 2017.

Overall, the Group generated a gross profit of RON 536 million in the first three quarters of 2018 from RON 507 million in the first nine months of the previous year.The result of the periodunder review was of RON 224 million, following RON 257 million in the previous year.

In the first nine-month period of 2018, ALRO Group continued the research investment projects dedicated to infrastructure for high-qualification industrial applications and to aluminium hydroxide technology (dry and wet), which are co-financed by the European Fund for Regional Development, through the Competitiveness Operational Program 2014-2020. Moreover, in the period under review, the Group allocated resources for the modernization of the Cold Rolling Mill no. 2 and for the replacement of some of the electrolysis pots components, in order to sustain the budgeted level of production, as well as for the investments to maintain and improve the operational efficiency within ALUM and SMHL.

These financial results are available in a separate document on the Company's website, Investor Relations category, Financial Reports section: http://www.alro.ro/en/reports.  

Figures for ALRO Group included in this press release are reported in accordance with IAS 34 Interim financial reporting as adopted by the European Union (EU). The accounting policies are in accordance with the Ministry of Public Finance Order no. 2844/2016, with subsequent amendments, which is in accordance with the International Financial Reporting Standards (IFRS) adopted by EU.

For further information, please contact:

www.alro.ro

Florența Ghiță

Bucharest

Phone: +40 744 644 004

Email: investor.relations@alro.ro

Notes to the Editors:

ALRO Group

The companies part of ALRO Group are: ALRO S.A. – manufacturer of aluminium, Alum S.A. – producer of alumina, Sierra Mineral Holdings I, Ltd. – bauxite mining, Vimetco Extrusion S.R.L. – extrusion business line, Conef S.A. – holding and management company, Global Aluminium Ltd. – holding company and Bauxite Marketing Ltd - marketing. Having this structure, the Group created an integrated production chain, assuring the raw materials for ALRO.

ALRO

ALRO is subsidiary of Vimetco N.V., a global, vertically-integrated primary and processed aluminium producer. ALRO is one of the largest vertically integrated aluminium producers, by capacity, in Europe, having an installed production capacity of 265,000 tonnes per year.

The main markets for ALRO products is represented by the European Union; the Company exports its products to the USA and Asia, as well. ALRO is ISO 9001 certified for quality management and has NADCAP and EN 9100 certificates for aerospace production organizations, ALRO’s products adhere to the quality standards for primary aluminium on the LME, as well as international standards for flat rolled products.