Approximately 30% of the 2014 net profit recorded by alumina producer Alum Tulcea will be allocated for retooling and the rest will be distributed to cover losses from previous years, the operational manager of the company Nicolae Anghelovici told Agerpres after Alum’s debut on AeRO market.
In 2014, Alum Tulcea saw a net profit of 47 million lei, after in 2013 it recorded losses of some 137.5 million lei, over eight times higher than in 2012.
Alum Tulcea is the only alumina producer in Romania, with a production capacity of 500,000 tonnes per year. The alumina produced by the company is supplied on the domestic market to Alro (ALR), part of Vimetco Group, as well as on foreign markets.
In 2014, Alum recorded a turnover of 534 million lei, up by 3% compared to the previous year (518 million lei) and its operating profit was 31.5 million lei. Net profit stood at 47 million lei. For 2015, the company counts on a turnover of 169 million dollars and total expenditures of 163.6 million dollars.
The company has a share capital of 488.4 million lei, divided into 82 million shares with a nominal value of 5.95 lei per share. Alro is the majority shareholder of Alum, with a 99.4% stake. The stock market capitalization of the company is 73.8 million lei.