Alro Slatina moves from losses of last year to profit in 1 half of 2015

Romanian aluminum producer Alro SA reports that its adjusted net profit amounted to 113 million lei (25.58 million euros) and was achieved as a result of lower costs and increased revenues in the first half of 2015, as evidenced by the company's financial report.

In the first half of 2014, the company recorded an adjusted net loss of 80 million lei (18.11 million euros). In addition, Alro increased its turnover to 1.2 billion lei (270 million euros) compared to 966 million lei (218.65 million euros) in the first half of 2014. EBITDA, which measures profit before interest, taxes, depreciation, amortization and depreciation, showed a positive rise to 214 million lei, compared to 3.04 million lei achieved in the first half of 2014.

During the reporting period, Alro Slatina primary aluminum production amounted to 134,760 tons against 127,605 tons obtained in the first half of 2014. In the first half of 2015, processed aluminum production was 51,604 tonnes, compared to 48,828 tonnes in the corresponding period in 2014. In turn, Alro Slatina also showed signs of improvement in the adjusted net profit to 136 million lei (against an adjusted net loss of 89 million lei in the first half of 2014), and an increase in turnover was recorded from 1.02 billion lei in the first half of the year. 2014 to 1.28 billion lei received over the same period this year.

Alro SA is a subsidiary of Vimetco NV, a global, vertically integrated producer of primary and processed aluminum. Alro Slatina is one of the largest aluminum producers in Central and Eastern Europe by volume, with an installed production capacity of 265,000 tonnes per year. The Alro Group includes ALRO, an aluminum producer (Romania), Alum, an alumina producer (Romania), Vimetco Extrusion, an extruded profile producer (Romania), and SierraMineral Holdings Ltd, a bauxite producer (Sierra Leone).