Polish producer Alumetal expects its aluminum sales to grow to 200,000mt this year before rising by another 50,000mt in 2022.
The company has modernized its Kety plant, increasing the total production capacity by 20,000mt to an annual capacity of 270,000mt, it said in its earnings report on Mar 23.
In 2020, the firm’s sales declined by 21pc to 153,000mt of aluminum compared with 193,100mt in 2019. However, Alumetal saw a 2pc increase in sales during Q4 2020 to 45,800mt from 44,800mt a year ago.
Sales revenue at Alumetal declined by 23pc to PLN1.06bn ($269mn) in 2020 but increased by 10pc in the last quarter of the year to PLN330mn. Alumetal posted an EBITDA of PLN98mn in 2020 and PLN35.8mn in Q4 2020, up by 3pc and 57pc, respectively, compared to the previous year.