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Big drop in Impol’s profit due to weak demand

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As expected, aluminum rolling mill Impol Seval (IMPL) saw a big drop in profits in the first six months compared to a record result in the same period last year.

Even before the publication of the financial reports, the company mentioned that they were facing difficult placement of goods and that the factory was operating at 70 percent capacity. In the period January-June, the total production was 20,593 tons, which is 31 percent lower than last year. The realization of 20,757 tons was achieved, which is 30.5 percent lower than last year.

From a financial point of view, the company achieved a decline in consolidated revenues of 48.1 percent to EUR 73 million.

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Thanks to excellent business results in the past two years, the company continued to relax its financial structure. The net debt at the end of June was reduced by 70 percent to EUR 3.2 million.

This year, Impol Seval paid its shareholders a record dividend of EUR 7 million. This year’s payment is 40 percent higher than last year’s, which was also a record dividend at the time.

Shares of Impol Seval on the Belgrade Stock Exchange have recently been quoted around the level of EUR 49, which represents a growth of about 20 percent since the beginning of the year.

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