The aluminum rolling mill, Impol Seval, achieved a record financial result last year, primarily thanks to the excellent business environment in the first half of the year, even though the company performed positively in the second half of 2022.
CEO of the company, Ninko Tešić, has announced annual financial results for the corporate newsletter. As it is already known, the company recorded a net income of over EUR 21m in the first six months of 2022.
“In the second half of the year, demand dropped by 40-50%. There was a significant drop in demand in Europe and the world, not only in our branch of the industry but also in all other branches. Despite the significant drop in sales volume and production, we also achieved a positive financial result in the second half of the year. So, at the end of the year, the financial result, i.e. the amount of net income, will be higher than the net income recorded in the first six months of this year”, Tešić said.
When it comes to the expectations for the current business year, Tešić sees a lower utilization of production capacities in the first half of the year, but the situation could improve in Q3 and Q4, so annual production is expected at 75-80% of production capacities.
Shares in Impol Seval jumped over 30% last year, while they increased an additional 12% to RSD 5,400 this year.