Alkomet Shumen : Alcomet participated in “Sound of Money” forum

The eight edition of Sound of Money economics forum was held at EFE hall in Marinela hotel, Sofia. There was remarkable interest in the event. It was opened with Capital Markets panel

Traditionally Capital Markets panel discussion offers the audience the largest number of foreign lecturers. This year Bulgaria was represented by Ivan Takev, Executive Director of the Bulgarian Stock Exchange, and Petar Stanchev, Investor Relations and Financial Manager of Alcomet AD.

Debut in The Sound of Money was made by Ludwig Sobolevski, Executive Director of the Bucharest Stock Exchange. The executives of the Belgrade Stock Exchange and the Macedonian Stock Exchange, respectively Sinisa Krneta and Ivan Shariev, participated for the second time at the event organized by Profit.bg. Greek Exchange Helex Group was preseted by Andreas Daskalakis.

'Entering SOFIX improved Alcomet`s stock exchange presence and for the first quarter we reported 3 times increase of the trade with our shares'. This was announced during the forum by Petar Stanchev, Investor Relations and Financial Manager of Alcomet AD.

According to his statement this was supported by good financial results of the company during 2015, 2016 and beginning of 2017. For 2016 the company reported EBITDA of 14% and net profit of 9% which is a remarkable result for a company operating in the metallurgy industry.

'2016 was the best year in Alcomet`s history and we expect that 2017 will be the second best one', Stanchev pointed out. According to his statement, good results enabled the company to develop its large scale investment program for more than 40 mio euro. The funds will be invested in the two main workshops of the company - rolling and extrusion, and more equipment will be purchased from a leading German manufacturer. This will help to increase the company`s production to 100 000 tons or 35% more in the next 3-4 years. According to his statement, Alcomet expects 5% increase of the net profit for this year and EBITDA of 9-10% with turover of 350 mio lv.