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Alro SA planned investments of 61 million dollars for this year
The Alro shareholders, the biggest producer of aluminium of continental Europe ( excluding Russia and the Scandinavian peninsula) approved an investment plan of 61 million dollars for this year.
The aluminium unit estimates for this year a net profit of 42.8 million dollars, for income resulting from sales of 662.95 million dollars.
By comparison, according to the income budget for 2017, Alro planned for 2017 a net profit of 38million dollars and a turnover of 572 million dollars.
The income and expenses budget of the company for 2018 was approved by the shareholders in the meeting of Friday.
Alro had in the first nine months of last year a net profit of 223.4 million lei, three and a half times more than the similar period of the previous year, of 63.79 million lei.
Similarly, the income from sales went up between January – September 2017 by 18% at 1.86 billion lei from 1.57 billion lei at the end of September 2016.
The current debts of the company increased at the level of 991.05 million lei on 30 September 2017against 980.66 million lei on 31December 2016, mainly due to the increase of the short term debts and commercial debts and other types of debts,the normal evolution taking into consideration the increase of costs with sold goods.
Alro is a subsidiary of Vimetco NV, global primary and processed aluminium company vertically integrated.
Alro is the biggest aluminium producer in Continental Europe ( excepting Russia and the Scandinavian peninsula) with an installed production capacity of 265,000 tons per year.
The main markets for the Alro products are the European Union (Germany, Hungary, Poland,Greece and Romania).The company has exports to the US and Asia as well.