Slovenia's Impol 2010 Cons Net Profit Surges, Seen More Than Doubling in 2011

Slovenian aluminium products manufacturer Impol said it expects its consolidated net profit to reach 14.5 million euro ($20.7 million) in 2011 after surging to 6.0 million euro last year.

The company posted a consolidated net profit of 663,100 euro in 2009, its 2010 annual report indicated.

Impol said it plans to boost its consolidated net sales to 472 million euro in 2011 from 421.1 million euro last year.

Sales of aluminium products totalled 155,000 tonnes last year, 12% more than in 2009.

The company said it invested about 21 million euro in fixed assets in 2010 with the aim to ensure its long-term prospects. "By finalizing its investment in the extrusion line, Impol obtained new capacities and can, consequently, plan to increase its operating scope in the next year by at least 10,000 tonnes," the report said. Total investment added up to 40 million euro last year.

Slovenska Bistrica-based Impol (www.impol.si) said it sells about 90% of all its products in the EU, including Slovenia. The market includes more than 40 countries and 400 large customers.

The company said it launched a 1.0 megawatt solar power plant last year but provided no further details.

Impol’s main activity is the processing of aluminium into rolled, extruded, drawn, and forged products, as well as other types of products.

($=0.6998 euro)

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