Slovenska Bistrica, 17 May (STA) - Impol Group, Slovenia's largest producer of finished and intermediate aluminium products, generated EUR 923 million in revenue in 2024, up 5% from 2023. Net profit was meanwhile down by 50% to EUR 21 million in what the group described as a challenging economic and geopolitical environment.
Impol says in the group's annual report that the main reason for the increase in revenue is higher volume of sales, with almost 95% of revenue last year being generated in foreign markets, mostly in the EU.
It noted that 2024 on global markets was marked by an increase in aluminium prices of around 7%, economic measures taken by China, low economic growth in the eurozone, a decline in demand for electric cars in Europe, and geopolitical tensions.
Last year, the group invested over EUR 25 million in increasing production capacities both in Slovenia and its subsidiaries abroad.
The Slovenska Bistrica-based group noted in the report that there was a significant decline in demand in the second half of last year, and that this trend has continued this year.
Impol is facing reduced demand in most of its production programmes, with the exception of the aluminium foil programme, where demand remains high.
Nevertheless, they were 13% behind schedule at the end of March, and average prices were almost 20% lower than in the same period last year.
The entire eurozone is currently in such a situation and the prevailing opinion in the industry is that the bottom has already been reached and that the situation can only improve, the company said in the report.
This year, Impol sees opportunities for growth in boosting the foil production capacities in Slovenska Bistrica and in Croatia's Šibenik, the painted product capacity in Serbia, and the melting and casting capacity with the aim of reducing the cost of input raw material.
