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Talum's Revenues Halved in 2009, Loss at EUR 7M

Kidricevo, 01 April (STA) - Aluminium maker Talum posted EUR 150m in net sales revenues for 2009, which is almost 50% less than in the year before. The Kidricevo-based company ended 2009 with a net loss of almost EUR 7m, but this is significantly less than expected, chief supervisor Miro Zunec told the press on Thursday.

Low prices of aluminium on the global market and a drop in orders for aluminium products had the biggest impact on last year's operations, according to him.

Considering the low prices of aluminium and global recession, Talum had expected to finish 2009 with a EUR 32m loss, said Zunec, a representative of power grid operator ELES, which holds a 80% stake in the company.

The company cut the output of electrolysis aluminium to only 41% of its capacity (35,148 tonnes), while the total output of goods in 2009 stood at 88,389 tonnes, which is 33% less than in 2008.

Talum employed 888 workers at the end of 2009, which is 10% less than at the end of 2008, Zunec said, adding that the cut in workforce was a consequence of crisis in the industry.

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