Over RON 2.1 billion turnover for ALRO Group in H1 2022

The net profit was RON 15.3 million in H1 2022 (H1 2021: net loss of RON 47.6 million)

ALRO’s turnover increased to RON 2.1 billion in H1 2022, compared to RON 1.5 billion in H1 2021, thanks to the higher demand for aluminium on the international markets and improved LME levels.

The Group’s sales in H1 2022 were RON 2.1 billion, higher by 39% compared to the ones from the similar period of 2021 (respectively RON 1.5 billion).

In June 2022, ALRO’s downstream subsidiary, Vimetco Extrusion, extruded the first billet using the new state-of-the-art aluminium profile extrusion press, following an investment of approximately EUR 10 million.

This new press is part of the Group’s strategy to increase its production capacity for high-value-added aluminium products.

Also, ALRO reduced the primary aluminium production by 60% by temporarily suspending the activity of three electrolysis potrooms, while ALUM suspended its production activity starting August 2022.

The aluminium price continued to show mainly quotations over 3,000 USD/tonne in Q1 2022, while in Q2 2022, a descending trend was visible with values around 2,500 USD/tonne in June.

The average for the first half of 2022 was 3,082 USD/tonne, higher by 37% than in H1 2021, when the average was 2,246 USD/tonne.

In 2022, the highest LME value was 3,985 USD/tonne recorded in March, while in H1 2021, LME reached a maximum level of 2,565 USD/tonne in May 2021.

MUST READ: BAT was Romania’s biggest taxpayer in 2021

- publicitate -