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Alro registered a net profit of 67 million RON in 2016

Alro, the largest aluminium producer in Continental Europe (excluding Russia and Scandinavia), registered a net profit of 67 million RON (14.8 million Euro) in 2016, compared to a net loss of 24 million RON (5.3 million Euro) in 2015.

2017-03-28 10:59:29

The adjusted net profit was of 101 million RON (22.4 million Euro) in 2016, compared to 45 million RON (10 million Euro) in 2015. The Company's turnover registered a slight decrease to 2.1 billion RON (466 million Euro), from RON 2.3 billion (511 million Euro) in the previous year.

„Even if 2016 was a year marked by an unstable macroeconomic climate and lower aluminium prices at international level, it was an important year in Alro's history, being the first year with a profit after four consecutive years of losses," said Marian Nastase, president of the board of Alro. "The successful finalization of the European Commission's investigation in respect of Alro's contracts signed with the electricity producer Hidroelectrica and the implementation of the exemption scheme for the big electricity consumers from paying a percentage of 85 per cent of the green certificates mandatory quota, contributed as well to the company's sustainable growth. We will continue to increase our investments in production capacities, in projects of environmental protection, of energy efficiency, but also in projects of research and development that will help us provide our customers with high quality products and compliant with the most sophisticated technological requirements."

In respect of Alro Group, the net profit was 71.5 million RON (15.8 million Euro), compared to a loss of 18,000 RON (4,000 Euro) in 2015. The Group reported in 2016 consolidated sales of more than 2,3 billion RON (511 million Euro) down from sales of more than 2,4 billion RON (533 million Euro) in 2015.
In 2016, Airbus, the leading aircraft manufacturer selected Alro as a supplier of aluminium. The agreement is for a multi-year period, starting 2017. Under the terms of the contract, Alro will supply Aluminium Flat Rolled Products for aircraft manufacturing.



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