INALUM Posts 44.3% Higher Profit in F2009

Indonesian aluminium smelter, Indonesia Asahan Aluminium posted US$ 101 million of net profit in fiscal 2009 ended March 2010, which was 44.3% higher than fiscal 2008, announced by the parent company Nippon Asahan Aluminium on Friday. The recurring profit increased by 25.9% to US$ 141 million while the sales decreased by 13.4% to US$ 478 million. The cumulative loss decreased to US$ 73 million at end of the period from US$ 174 million a year earlier.

The aluminium ingot output of INALUM increased by 10,000 tonnes to 256,000 tonnes in fiscal 2009 from fiscal 2008. The shipment increased by 6,000 tonnes to 255,000 tonnes. The averaged number of operating furnaces increased to 504 from 486 when electric power supply increased thanks to high water level of Lake Toba. Despite the decline in sales, the cost of ingot decreased to US$ 1,323 per tonnes from US$ 1,766.

The operation of the INALUM remains high in fiscal 2010 and the profit would stay at high level when aluminium ingot price keeps current level, according to Nippon Asahan Aluminium.