Nippon Amazon Aluminium to Keep Dividend

Nippon Amazon Aluminium, which is Japanese holding company in Brazilian aluminium projects, plan to distribute dividend for 3 years in a row. The firm decides the dividend at general shareholders’ meeting on March 26. The dividend received halved to 2.922 billion yen for 2008, which is 51% lower than 2007, but the firm keeps dividend.

The income decreased by 51% to 3.245 billion yen in 2008 from 2007 when the dividend was around 2.8 billion yen from aluminium smelter, Aluminio Brasileiro S.A. (ALBRAS) and around 100 million yen from alumina refinery, Alumina do Norte do Brasil S.A. (ALUNORTE). Nippon Amazon Aluminium’s operating profit decreased by 55% to 2.526 billion yen. The net profit decreased by 80.3% to 961 million yen.

ALBRAS’ net profit decreased by 46.8% to 164.1 million real in 2008 from 2007. ALUNORTE’s net profit decreased by 50.7% to 241.2 million real. Their profitability was damaged by lower real exchange rate while ALBRAS kept full capacity operation and ALUNORTE’s output hit record.

ALBRAS’ production was 455,000 tonnes in 2008 as 2007. The real exchange rate was around 40% lower at end 2008 from end 2007 resulting 156.6 million real of exchange loss for the firm. The firm plans to make 453,700 tonnes in 2009.

ALUNORTE produced 5.027 million tonnes in 2008, which was 18.2% higher than 2007 due to the third phase of expansion in 2007. The firm also posted 354.9 million real of exchange loss. The firm plans to make 6.261 million tonnes in 2009.