English
ALRO - Slatina (BSE:ALR) has concluded two USD/RON forward deals with JP Morgan and Morgan Stanley in a total value of 1.05 billion RON to cover the risk of a stronger RON against the USD. ALRO signed with JP Morgan Chase a contract on the forward sale of USD for RON in a total estimate value of 525 million RON and a similar contract with Morgan Stanley, also for 525 million RON. The timeframe for the transactions is November 2007 - June 2012. The transactions will take place in equal installments of 26.25 million RON.
Alro concluded H1 with 1.10 billion RON (474.5 million USD) in turnover, down by 2.2% y/y and estimates an 8.8% decrease in profit to 135.57 million USD. The turnover projection for this year is 741.68 million USD, down by 13.6% y/y. The company has a share capital of 356.89 million RON divided into 713.78 million shares with a face value of 0.5 RON. The majority shareholder is Vimetco with 87.74%.
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