For the first half of 2014 (H1 2014), Alro S.A., one of the largest aluminium producer in Central and Eastern Europe, reported an adjusted net loss of RON 80 million, compared to an adjusted net loss of RON 17 million, in H1 2013. The turnover for H1 2014 was of RON 966 million, compared to RON 1.02 billion, in H1 2013.
Alro registered an adjusted net loss of RON 89 million for the six months ended 30 June 2014, compared to an adjusted net loss of RON 90 million reported in H1 2013.
“Two major factors continued to impact Alro’s results during this half year as well: the international aluminium market, where the demand is still weak, while, locally we faced the high costs for energy”, said Marian Năstase, Chairman of the Board at Alro.
“However, based on the latest developments, we are hopeful that the improvement of the market will continue. Moreover, the latest legislative changes implemented at the EU level regarding energy taxes demonstrate the preoccupation for the European industry. These two factors, accompanied by our strategy to increase competitiveness and improve the efficiency of our operations give us the confidence to continue our long-term development strategy for Romania.”, he added.
In H1 2014, Alro Group reported a total production of primary aluminium of 127,605 tonnes, a level similar to the one registered in the previous year (H1 2013: 124,648 tonnes). The Group processed aluminium production was close to a level of 49,000 tonnes, while the alumina production registered a slightly decrease in H1 2014, to 169,778 tonnes, compared to 203,320 tonnes in H1 2013.
In H1 2014, Alro S.A. reported a slight increase in the primary aluminium production compared to H1 2013, by 2% (i.e. by 2,960 tonnes more) and an increased downstream production of 5% (by 1,900 tonnes more).
This mix is the result of Alro’s strategy of focusing on the production of high value added products, both in the primary and processed aluminium sectors. In H1 2014, Alro S.A.primary aluminium sales were of 70,304 tonnes, compared to 71,168 tonnes, in H1 2013, and the sales volume of processed aluminium increased from 36,711 tonnes in H1 2013, to 39,256 tonnes, in H1 2014.