Slatina-based Alro registered a preliminary net profit of RON 318 million in 2017, higher compared to 2016 when it was of RON 67 million, a press release informs. The company’s turnover amounted to RON 2.47 billion, higher compared to RON 2.13 billion in 2016.
“In 2017, Alro achieved its best financial results from the last ten years, when, in 2008 the first signs that predicted the beginning of the crisis in the aluminium industry started to be visible. The past years were challenging at all levels, but with a lot of work and a well-defined strategy closely monitored, we managed to embed in these results the efforts made taking advantage of the favorable context for our industry at international level, as well,” Marian Nastase, President of the Board of Directors of Alro, stated.
In 2017, Alro benefited from a favorable international environment as the aluminium quotation at the London Metal Exchange (LME) has significantly increased. Thus, the average LME in 2017 was USD 1,969 / tonne, compared to USD 1,605 / tonne in 2016. In the last quarter of 2017, the average price rose to 2,102 USD/ tonne, by USD 392 / tonne more than the average level recorded in Q4 2016, of USD 1,710 / tonne.
Alro has also achieved a significant improvement in its operating results with an operating profit of RON 397 million in 2017 compared to RON 170 million in 2016 and a net profit of RON 318 million, compared to RON 67 million, in 2016.
During 2017, Alro invested RON 142 million for technological upgrading, operational efficiency and customer portfolio expansion and product range diversification, compared to RON 81 million in the similar period of 2016.