Interim Financial Results for the Six Months Ended 30 June 2010

Fri, 08/27/2010 - 16:37

Amsterdam, 27 August 2010: 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 2010.

Financial Highlights:

 

H1 2010

H1 2009

Change

Primary aluminium production (tonnes)

429,000

278,000

+54%

Processed aluminium production (tonnes)

62,000

48,000

+29%

Primary aluminium sales (tonnes)

437,000

299,000

+46%

Processed aluminium sales (tonnes)

58,500

38,000

+54%

Revenue (USD millions)

1,100

639

+72%

EBITDA (USD millions)

161

114

+42%

Net profit (USD millions)

15

15

0 %

Earnings per share (USD)

-0.015

0.027

-156%

Frank Müller, Chief Executive Officer, commented:

“We are very pleased with the progression of the Company and the results for the first half of the year. The successful continuation of our vertical integration strategy, combined with the investment made in China and a tight focus on cost control has had a positive impact on the business. We have continued our policy of securing raw material and energy sources along with continuously improving our technology and the range and quality of our products. We remain, as always, committed to improving our reliability and to increase customer satisfaction.”

Vimetco management will host a conference call for members of the investment community at 9.30 BST (10.30 CET).
 
Additionally, Vimetco management will host a media conference call at 12.30 BST (13.30 CET).

A replay of the conference call will be available for one week.

If you would like to take part in the conference call, please contact:

Florenta Ghita
Premium Communication
Bucharest  
Phone +40 (0)740 063 116
Email florenta.ghita@premiumpr.ro

In order to be allowed access, please provide the following details:

- Name
- Company
- Position
- Phone number from where you are going to access the conference

About Vimetco
Vimetco N.V. is a global, vertically integrated producer of primary and processed aluminium products with major production assets in Romania, Sierra Leone and China, and a holding company in The Netherlands. Vimetco NV controls an aluminium production capacity of 1.1 million tonnes pa. Vimetco’s shares are listed on the London Stock Exchange (LSE: VICO). www.vimetco.com