Bulgaria's Alcomet turns to 9-mo cons net loss on lower revenue

The downturn resulted from a 41.4% annual decline in total revenue to 345.6 million levs in January-September, Alcomet said in an interim financial statement on Tuesday.

Overall sales dropped by 26% on the year to 43,398 million tonnes, reflecting a global trend for a weaker demand for aluminium products, according to the statement. Sales of extruded products went down 4.4% on the year to 20,100 mt, while sales of rolled products shrank 38.2% to 37,684 mt.

The company's output volume decreased by 29% year-on-year in the period under review, reaching 40,224 mt. Germany remained Alcomet's biggest market in the January-September period, with a 20.6% share of all sales, followed by Poland with 16% and Italy with over 13%.

The company's assets amounted to roughly 448 million levs at the end of September, down from 511.9 million levs a year earlier.

As at 1518 CET on Wednesday, Alcomet shares traded 1.43% higher at 7.10 levs on the Bulgarian Stock Exchange.

Based in Shumen, northeastern Bulgaria, Alcomet makes household, technical and container foils, sheets and strips, as well as standard and customised profiles, predominantly for export.

(1 euro = 1.95583 levs)