Alro Slatina invests USD 100 mln in environmental protection projects in Romania

Romania’s aluminum producer Alro Slatina invested USD 100 million in the last 10 years in projects related to environmental protection. These investments were part of a wider investment program of USD 500 million developed in the last 10 years, focused on modernizing the equipment in order to remain competitive on the international markets, but also to fully comply with environment regulations, according to the company. Alro Slatina reported for 2013 a preliminary adjusted net loss on RON 78 million (some EUR 17.6 million), compared to an adjusted net profit of RON 123 million (EUR 27.6 million) in 2012. It also reported sales of RON 2.02 billion (EUR 458 million) in 2013. The company recorded a negative earnings before interest and taxes (EBIT) of RON 21 million (EUR 4.7 million), compared to a positive EBIT of RON 286 million (EUR 64.2 million) in 2012. According to Marian Nastase, President of Alro’s Board of Directors, the company’s results for last year were impacted by several factors, such as “the burden of the energy costs (generated by the energy consumption taxes – green certificates, cogeneration tax etc.)”. editor@romania-insider.com