Aluminium producer Alro Slatina ended the first nine months of 2023 with a consolidated turnover of RON 2.24 billion, down 21 percent compared to the same period in 2022, i.e. a net loss of RON 394 million, from a loss of RON 109.5 million in January-September 2022.
Aluminium price quotations on the London Metal Exchange (LME) continued to decline in Q1-Q3 2023 reaching a 3-month average of USD 2,306/tonne, 19 percent lower than the average recorded in Q1-Q3 2022 (USD 2,836/tonne).
“The challenging international business environment continued to put further pressure on our business, with aluminium quotations and demand slowing. Locally, utility costs further impacted our budget. However, the investments we have made in diversifying our product portfolio and customer base have paid off and we have been able to partially offset these setbacks due to higher quantity sales in Q3 2023. As a result, we will continue our plan to secure our power supply and invest in state-of-the-art technology aimed at reducing consumption and increasing quality and product range,” says Marian Năstase, Chairman of Alro’s Board of Directors.
