Bulgaria’s Alcomet widens 9-mo non-cons net loss

Sofia: Bulgarian aluminium products manufacturer Alcomet [BUL:ALCM] said on Tuesday that its standalone net loss deepened to 4.27 million levs ($2.36 million/2.18 million euro) in the nine months through September from 919,000 levs in the like period of 2023.

The company’s overall revenue leapt to 401.8 million levs in January-September from 345.6 million levs a year earlier, Alcomet said in an interim financial statement.

The volume of goods sold went up by an annual 31% to 56,799 million tonnes (mt) due to a 62% jump in sales of rolled products to 37,836 mt. Goods produced also marked an annual increase in the review period, of about 43% to 57,453 mt.

In parallel, the company’s expenses widened to 406.1 million levs in the first nine months of 2024 from 346.5 million levs in the prior-year period, as costs for materials grew by 36% to 316.3 million levs.

Germany remained Alcomet’s biggest market in the review period with nearly 19% of all sales, followed by the U.S. with 15.6% and Italy with 14.5%.

Shumen-based Alcomet makes household, technical and container foils, sheets and strips, as well as standard and customised profiles.

As of 1453 CET on Tuesday, shares in Alcomet traded 1.52% lower at 6.50 levs on the Bulgarian Stock Exchange.