Net Alro profit goes up by 39% in Q1

Alro Group, one of the largest manufacturers in Europe, recorded a net profit of 125 million lei in Q1 of the year, 39% more compared to a net profit of 90 million lei in the same period of 2017. The business figure of the group went up by 10% in the first three months, to 749 million lei, compared to 681 million lei, in Q1 of 2017.

In Q1, 2018, the international aluminium market continued the tendency recorded in the second half of 2017, aluminium quotation and demand growing significantly, the average LME quotation being 2,159 dollars/tonne, against 1,851 dollars/tonne in Q1, 2017.

Alro Group continued to focus on supplying products with high VAT both in segments of primary aluminium and for processed aluminium.

As a result of a recovering aluminium market, overall sales reached 749 million lei (198 million dollars) in the first three months of 2018, compared to 681 million lei (180 million dollars) in Q1, 2017.

The Group continued the long term development strategy, investing about 41 million lei in new technologies and processes meant to increase overall efficiency in Q1.

“Thus the group was based on research projects for industrial applications of high training, on improving aluminium hydroxide technology, a project co-financed by the European Regional Development Fund, through Competitiveness Operational Program 2014-2020 and the replacement of existing equipment to support budget production level,” Alro officials say.

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