Alro reports RON 1.44 billion turnover at the end of September 2014

Aluminum producer Alro reported a turnover of RON 1.44 billion for the first nine months of 2014, down from the RON 1.50 million registered over the similar period of 2013. The company says the results come against a climate of lower demand and an oversupplied market.

“Alro increased its sales of processed aluminum, as part of its long-term strategy to focus on high value added products, but due to factors that we cannot control, such as the international aluminum market and the energy taxes, our company continues to report losses,” said Marian Nastase, chairman of the board of Alro. “The third quarter of 2014 was a difficult one, with lower demand mainly in August and a strong competition in an oversupplied market. Under this adverse environment, the latest legislative changes regarding the energy support scheme come as a vital solution for our operations. Despite the high costs that were beyond our control, we decided to continue and even increase investments in energy efficiency projects, thus trying to partially offset the difficult market conditions,” he added.

The sales quantity of aluminum products of the company increased slightly by 1 percent, compared to the similar period of 2013, the sales of processed aluminum being higher by 7 percent, while the sales of primary aluminum lower by approximately 3 percent, with more slabs being internally used in order to support the increase of the value added production.