Mobile & PDA
BNR Exchange Rates29.03.2017
- 1 EUR 4.5575 RON
- 1 USD 4.2232 RON
- 1 CHF 4.2496 RON
- 1 GBP 5.2473 RON
- 1 gr. aur170.1325 RON
Alro forecasts double profit in 2010Updated: 01-04-2010 | Business
The largest aluminium producer in the Central and Eastern Europe, Alro Slatina (south-west of Bucharest) estimates 57 million dollars net profit in 2010, almost double as 30.7 million dollars in 2009, according to a news release sent Bucharest Stock Exchange.
The aluminium producer budgeted a turnover of 580 million dollars, around 25 percent higher than last year, which amounted to 463.8 million dollars. Alro representatives claim that the estimates were made based on the evolution of aluminium demand and prices. 'It is our intention to invest in strengthening the capacity of higher value-added products and, at the same time, in cutting costs, improving the efficiency and quality as well as the working conditions,' daily Financiarul quotes vice-chairman of Alro's Board of Directors Marian Nastase as saying.
Alro's investment budget this year amounts to 15.28 million dollars, as compared to six million dollars in 2009, a year that witnessed significant reductions because of the economic crisis effects. At the same time, the aluminium production will increase by 13.5 percent, from 201 thousand tons to 228 thousand tons. The main stakeholder is the global primary and processed aluminium company Vimetco, controlled by the Russian businessman Vitali Matsitski.
Alro management budgeted an increasing business and profit for the alumina refinery Alum Tulcea (north-east of Bucharest), also owned by Vimetco. Thus, the net profit will increase from 4.45 million dollars to 5 million dollars, and the turnover from 25.6 million dollars to 149 million dollars.Alum budgeted an investment programme worth 6.23 million dollars for 2010.
'The company will invest in automation, specific consumptions reduction and efficiency increase. It will also carry on with the programme of building an installation which allows the thick slime to be stored in line with the international best practices,' the news release informs.
- Insurance market stagnated in 2013 while GDP chare dropped to 1.3%
- The Romanian Leasing Market as of December 31, 2013
- Millennium Bank reports best results since its launch, helped by stronger banking income and cost cuts
- BCR cheapens First Home loans and lowers interest loans for loans in lei
- Millennium Bank's new Salary account clients receive up to 600 lei bonus and their utility bills' payment
- GarantiBank and Seamless introduce SEQR in Romania: the newest mobile payment solution
- Bancpost telecom services, now provided exclusively by Romtelecom and COSMOTE Romania
- Millennium Bank cards offer discounts in Domo stores
- BCR Supervisory Board reshuffles Management Board
- NBR decide to lower the monetary policy rate to 4.25 percent per annum
- Common appointments in Romtelecom and COSMOTE Romania
- Up to 5.5% annual interest rate for Millennium Bank's promotional three-month lei deposit
- Eurozone in recovery mode but gap between North and South still widening
- UniCredit Tiriac Bank and RBS Romania announce the successful completion of the retail clients' migration
- Millennium Bank grants First House loans in lei
Most Popular News
- Three billion euros to be invested in energy private-public partnerships
- Romanian state plans to keep 8 pct of Petrom, at least
- IMF mission extends stay in Romania till May 9
- IMF, FinMin Vladescu discuss Government revenues collection
- Videanu admits that he is in conflict of interests in connection to Marmosim
- Greece gets 110 billion euros, biggest bailout in history
- BNR governor Mugur Isarescu: Situation is quite complicated
- Romanian-German meeting on fresh cooperation opportunities
- Gov't to earmark 6.4pc of GDP for investment
- FinMin Vladescu: Cutting 25pc off public wages pool will not generate needed savings