Romanian group Alro, one of the biggest aluminum producers in Europe, increased its turnover by 12% in the first nine months of this year compared to the same period of 2017, to RON 2.3 billion (EUR 495 million).

However, the net profit went down by 12.8% year-on-year, to RON 224 million (EUR 48 million) as the group sold lower volumes of processed aluminum and higher volumes of lower added-value products such as alumina.

“From the quantity point of view, the sales of processed aluminum decreased by 4% compared to the same period of 2017 due to the fact that, starting from July 2018, Alro initiated a program of modernization of one of its rolling mills. During the time interval when the modernization will take place, in order to compensate the lower sales of certain processed aluminum products, the group will steer its sales and output efforts towards other aluminum products, nevertheless monitoring a product mix that will ensure advantageous profit margins,” reads the group’s nine-month report.

editor@romania-insider.com