ALRO registered a preliminary consolidated turnover of RON 3.4 billion in 2024
Fr 2/28/2025 6:08 PM
- Strong operational results, on the back of surging sales volumes of high added-value products both in primary and in processed aluminium sectors; The sales for processed aluminium products increased by 30% yoy, while the sales for primary aluminium products rose by 19% yoy;
- The output of liquid aluminium from recycled scrap doubled compared to the previous year, with positive impact on overall costs, partially offsetting the high energy costs;
- Investments aimed at diversifying product’s portfolio and optimising overall costs, including the commissioning of the cutting-edge aluminium processing facility, CUTSMART SYSTEMS;
- Comprehensive brand revitalising initiative, highlighting ALRO’s transformation over the past 20 years, and the results of the over USD 900 million investments in technology, efficiency and the reduction of the environmental footprint.
Slatina, 28 February 2025 – ALRO S.A. (BSE: ALR, “the Company” or “ALRO”), one of the largest vertically integrated aluminium producers in Europe, measured by production capacity, announces today its Preliminary Consolidated and Separate Financial Results for the year 2024. The Group registered a turnover of RON 3.4 billion in 2024, higher by 20% compared to the previous year. ALRO Group reached a positive EBITDA of RON 369 million, in 2024, compared to a negative EBITDA of RON 164 million in 2023. The Group registered a consolidated net profit of RON 5.7 million in 2024, from a net loss of RON 561.7 million in 2023.
"The 2024 financial results are a direct outcome of our clear long-term vision, focused on strategic investments that resulted in a broadened, customer-centric product portfolio This, coupled with stringent cost control initiatives have been instrumental in driving our improved performance”, said Marian NĂSTASE, Chairman of ALRO's Board of Directors. “While the overall market conditions remain challenging, we are confident we positioned ourselves for further growth and long-term sustainability", added Marian NĂSTASE.
Market Update
In 2024, the aluminium quotations increased compared to 2023, with the LME 3-month quotations increasing by 7.5% to USD 2,457/tonne, compared to USD 2,285/tonne, in 2023. Overall, in 2024, the rate cuts implemented by both FED and ECB, and the recovery in demand for both primary and processed aluminium products led to higher quotations and premia. On the other hand, the Romanian Electricity Market showed quotations in the range of 550-565 lei/MWh, with an average base price for 2024, on the day ahead market of 515 lei/MWh, continuing to put pressure on the overall production costs.
Analysts predict a slight rise in demand from key European industries like general engineering, aeronautics, and automotive sectors, as well as the North American market, due to tightened tariffs on Chinese suppliers. However, the full impact of the new tariffs on the EU products it is yet to be determined.
Financial and Operational Update
In 2024, on the back of improved product mix and higher demand on the international markets, ALRO Group sales of aluminium increased significantly compared to 2023. The sales for processed aluminium products surged by 30%, while the sales of primary aluminium products rose by 19%, compared to 2023. This, coupled with investments in increasing the operational efficiency and a strong cost control policy led to positive operational and net result.
The investments in increasing the capacity of the Eco-Recycling Facility resulted in an output of liquid aluminium mainly from recycled scrap of 92,076 tonnes in 2024, compared to 42,613 tonnes in 2023. This resulted in a lower electricity consumption/aluminium tonne.
Moreover, in 2024, ALRO approved an investment programme worth USD 24 million (approx. RON 114 million) in improving the energy efficiency, diversifying the range of value-added products, manufacturing complex products that match the customers’ requirements in terms of dimensions, increasing the percentage of high value-added products in the production mix and reducing the environmental footprint.
The sales & marketing strategy supported the technological investments programme, focusing on potential customers from strategic areas such as aerospace, engineering or auto. And this strategic focus is also reflected by ALRO’s new visual identity, launched in 2024, showcasing ALRO's transformation over the past 20 years and reflecting the achievements from more than USD 900 million invested in technology, efficiency, and environmental sustainability. It also looks forward, underscoring ALRO's commitment to robust, highly efficient production processes.
These financial results are available in a separate document on the Company's website, Investor Relations category, Reports section: https://www.alro.ro/en/investor-relations/reports and at the below link:
Marian-Daniel NĂSTASE Marin CILIANU
Chairman of the Board of Directors Chief Executive Officer
For further information, please contact:
Florența Ghiță
Bucharest
Phone: +40 744 644 004
Email: investor.relations@alro.ro
Notes to the Editor:
ALRO Group
The companies’ part of ALRO Group are: ALRO S.A. – manufacturer of aluminium, ALUM S.A. – producer of alumina, Vimetco Extrusion S.R.L. – extrusion business line, Conef S.A. – holding and management company, Vimetco Trading – aluminium sales and CCGT- Power Isalnita- associate.
ALRO
ALRO is a subsidiary of Vimetco PLC (Republic of Cyprus), a global, vertically-integrated primary and processed aluminium producer. The structure of ALRO shareholders is: Vimetco PLC (54.19%), Paval Holding (23.21%), Fondul Proprietatea (10.21%) and others (12.39%).
ALRO is one of the largest vertically integrated aluminium producers in Europe, by production capacity, with a production capacity of 265,000 tpa of electrolytic aluminium, an Eco-Recycling capacity 100,000 tpa, resulting in a production of recycled liquid aluminium of 94,000 tpa. The capacity of the Aluminium Cast House is 315,000 tpa and the processing capacity is 140,000 tpa of cold and hot rolled facilities and extrusion division.
The main market for ALRO products is represented by the European Union; the Company exports its products to the USA and to the Asia as well. ALRO is ISO 9001 certified for quality management and has NADCAP and EN 9100 certificates for aerospace production organizations, ALRO products adhere to the quality standards for primary aluminium on the LME, as well as international standards for flat rolled products.
Since 2020, ALRO and Vimetco Extrusion have been members of ASI (Aluminium Stewardship Initiative), an international association that contributes to enhancing sustainability in the global aluminium sector. In 2023, ALRO and Vimetco Extrusion achieved the first certification in Europe under ASI’s Third version of Performance Standards.