March 1 (SeeNews) - Bulgarian aluminium products manufacturer Alcomet [BUL:6AM] said on Friday that its consolidated net profit fell to 13.7 million levs ($8 million/7 million euro) in 2018 from 15.4 million levs in 2017, following a rise in expenses.
The company's total expenses increased to 352.8 million levs last year from 344.9 million levs in 2017, following an increase in expenses for materials, figures from Alcomet's unaudited financial statement showed.
Alcomet spent 301.2 million levs on materials in 2018, up from 288.1 million levs a year earlier.
Total revenue rose to 368 million levs in 2018 from 362 million levs the year before.
In terms of volume, Alcomet's sales dropped 2.5% to 66,359 metric tons. The company sold 44,203 metric tons of rolled products, 4% less than the year before, and 22,118 metric tons of extruded products, up 0.4% on the year.
The company's biggest market last year was Germany, with a 25.3% share of all sales, followed by Italy and Poland with 14.3% and 12.7%, respectively.
Alcomet's output increased 1.8% to 68,322 metric tons of rolled and pressed products last year. Rolled products output rose 2.8% to 46,108 metric tons, while production of extruded products edged down 0.2% to 22,214 metric tons.
Alcomet consolidates the results of its wholly-owned subsidiary Euromet.
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)