Alro’s net profit at RON 67 mln in 2016 after four years in row of losses

Alro, the biggest aluminium producer from continental Europe, registered a net profit of RON 67 million in 2016 after four years in a row of losses. The turnover of the company fell, reaching RON 2.1 billion, from RON 2.3 billion in 2015, according to the company’s data.

The adjusted net profit reached RON 101 million in 2016, compared with RON 45 million in 2015, according to News.ro.

„The year 2016, although was a year with an unstable macro-economic climate and a reduced level of the aluminium price at international level, represented an important year in Alro history,” said Marian Nastase, the president of the administration council of Alro.

He claims that the conclusion of the European Commission investigation contributed to the the establishment of the company, regarding the Alro contracts with the energy producer Hidroelectrica, but also the implementation of the exemption scheme for the big energy consumers from the payment of 85 percent of the number of green certificates affiliated to the mandatory quota.

In 2016, the aluminium market registered a decrease in the quotations, as the average level of the aluminium price at Metals Stock from London was in 2016 USD 1,605/tonnes, compared with USD 1,661/tonnes in the previous year.

Alro registered a net profit of RON 67 million and an EBITDA level of RON 247 million in 2016, compared with the loss of RON 24 million and, the EBITDA level of RON 224 million in 2015, according to company’s data. The company says that in 2016 it focused on products with added value and on costs reduction through the optimization of the production processes.