For the first time in its history, the German aluminium concern Trimet has reported a loss. Despite full order books, the Essen-based company posted a loss of €44.4m for the business year ended 30 July, the company said on Friday.
A year earlier, the Trimet group reported earnings of €32.6m. The decrease in earnings in the 2011/12 financial year could be traced chiefly to electricity supply contracts closed in the wake of Japan's Fukushima catastrophe in the spring of 2011, the company said. For the current 2012/13 financial year, the concern's management is forecasting a return to profitable growth.
Germany's largest primary and secondary aluminium producer generated revenues of €1.3bn for the annual reporting period, down slightly from the prior year, due to the international aluminium price development. The concern has seen improvements primarily in its automotive and recycling business areas, according to the press release. The full annual report with more detailed reporting covering the individual divisions is due out later in the week.