January 30 (SeeNews) - Bulgarian aluminium products manufacturer Alcomet [BUL:6AM] said on Thursday that its individual net profit fell to 9.4 million levs ($5.3 million/4.8 million euro) last year, from 13.6 million levs in 2018.
Alcomet's 2019 revenue decreased to 353.5 million levs, from 368.2 million levs a year earlier, predominantly due to lower sales revenue, the company said in a financial statement.
In terms of volume, Alcomet's sales dropped 0.9% to 65,739 metric tons last year. The company sold 43,020 metric tons of rolled products, 2.7% less than the year before, and 22,719 metric tons of extruded products, up 2.7%.
The company's biggest market last year was Germany, with about 24% share of total sales, followed by Italy and Poland with 14.6% and 11.0%, respectively.
The company's expenses for materials dropped 8.7% to 274.1 million levs, decreasing its total expenses by 2.8% to 343.1 million levs.
Last year, Alcomet launched a new aluminium profiles production facility and said it is aiming to enter the automotive parts industry. The new Hybrex press, produced by Germany's SMS Group, will allow Alcomet to boost its extruded products output in the medium term to 35,000 tonnes per year.
Alcomet produces household, technical and container foils, finstock, sheets and strips, as well as standard and customized profiles. The company exports over 90% of its output.
(1 euro = 1.95583 levs)