Interim Financial Results for the Six Months Ended 30 June 2009
27.08.2009
Amsterdam/Zurich, 27 August 2009: Vimetco NV (LSE: VICO), the global producer of primary and processed aluminium products, today announces interim financial results for the six months ended 30 June 2009.
Financial Highlights:
H1 2009 H1 2008 Change
Primary aluminium production (tonnes) 278000 356000 -22.00%
Processed aluminium production (tonnes) 48000 50000 -4.00%
Primary aluminium sales (tonnes) 299000 285000 +5.00%
Processed aluminium sales (tonnes) 38000 49000 -22.00%
Revenue (USD millions) 639 949 -33.00%
EBITDA (USD millions) 114 209 -45.00%
Net profit (USD millions) 15 127 -88.00%
Earnings per share (USD) 0.027 0.452 -94.00%
Operational Highlights:
• Increased focus on added value products both in Romania and China
• Capacity increase with a cast house in China completed and commissioned
• Further progress in vertical integration in China with a new 300 MW power plant
Frank Müller, Chief Executive Officer, commented:
“We are pleased with the results of the decisions taken at the end of 2008 and during the first part of 2009 that led to a much tighter cost control and reduced inventories. We remain confident that our strategy of further integration and focus on added value products is the right one. We continued developing our production capacities for both primary and processed products. As a result, we are now in a better position to respond to the market demand.
“The latest market data and trends suggest that the industry is now past the worst and that we may see a gradual improvement in demand in the second half of 2009 and into 2010. We remain cautiously optimistic.”
For further information please contact:
Premium Communication
Andrei Savu
Senior Partner
Tel: +40 747 303 093
