Rising aluminium prices swell Alro income

Alro Slatina, the biggest primary aluminium smelter in Central and Eastern Europe, in the first half posted net income worth 57.7 million euros (204.5 million RON), 3.5 times larger than the H1 figure reported in 2005, due to a 60% growth in company turnover. In the first six months, turnover reached 318.5 million euros (over 1.12 billion RON), from a level of 197.8 million euros (724.2 million RON) in the first half of 2005. Turnover growth was triggered by a higher actual production sold and particularly by the rising international prices of aluminium. Output Alro delivered in H1 was 20,318 tonnes higher, while physical output increased by 11,716 tonnes, reaching 20,318 tonnes. Alro expects to generate turnover worth around 510 million euros amid net income standing at about 75 million euros this year, 2.3 times higher than last year’s figure. The company has already derived more than 75% of budgeted income. Alro has recently finalised its merger with Alprom Slatina and is taking steps to merge with Alum Tulcea, the main raw materials supplier of the plant.