EnglishAlum - Tulcea (RASDAQ:BBGA) posted 22 million RON (6.6 million EUR) in losses for Q1:2007 as production was halted to allow technological upgrades. The company posted 3.8 million RON in profit for the corresponding period of 2006.
Both production and sales decreased in Q1 as the company halted production in February to implement new technology worth 49.5 million USD in order to comply with environmental requirements and lower production costs by 30%. Business thus shrunk 2.76 times to 49.86 million RON (14.86 million EUR), whereas the turnover reached 137.66 million RON. Q1 also brought operating losses of 21.6 million RON, compared to an operating profit of 6.95 million RON in Q1:2006.
The company was established in 1973 and has a production capacity of over 500,000 tons of aluminum oxides and hydrates. The share capital is 469.45 million RON, divided into 78.9 million shares with a face value of 5.95 RON. ALRO - Slatina is the majority shareholder with 99.38%. Alum is traded on RASDAQ. The latest available price, dated May 30th, is 7.3 RON. Thus, market capitalization is 576 million RON.
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