17 slides from Elvalhalcor Hellenic Copper And Aluminium Industry's earnings presentation
Slide 1: H1'24 Financial Results
Η1’ 24 Financial Results ElvalHalcor: Beyond Metals Shaping Tomorrow
Slide 2: Financial Highlights
Financial Highlights. 01 02 03 04 Increased sales volumes Strong performance. Drop in Net Debt Slowdown of despite subdued demand Operational profitability by 144.5 EUR million from investments across most markets. (a-EBITDA) stood at EUR H1’23 boosted by the strong Increased interest rates have 114
Slide 3: Macroeconomic Charts
Macroeconomic Charts. LME Prices TTF - Gas Expectations for demand recovery fall short. Improved supply, lower consumption. LME 4.500 TTF Natural Gas (EUR/MWh) 250,00 10.000 4.000 9.000 200,00 3.500 8.000 150,00 CU €/tn 3.000 AL €/tn 7.000 2.500 100,00 6.000 2.000 50,00 5.000 1.500 0,00 4.000 1.000
Slide 4: Consolidated Cost Analysis
Consolidated Cost Analysis. Energy costs dropped Excluding Al, Cu, Zn, and other metals costs. H1 2023 H1 2024 Other operating Other operating Energy Energy 13% 18% 13% 13% Maintenance Maintenance 5% 6% Third party fees 13% Third party fees 17% 28% Employee benefits 26% Employee benefits 11% 11% Dep
Slide 5: Sales evolution per quarter
Sales evolution per quarter. Sales volumes (‘000tn) 2022 Aluminium 2023 +8.3% 2024 +2.8% +3.4% -4.1% -6.6% +2.6% 102 106 104 97 100 98 97 94 91 94 Q1 Q2 Q3 Q4 Copper 2022 2023 2024 -8.6% -4.1% -6.9% -4.7% -9.2% -5.5% 52 51 47 45 47 45 43 44 39 41 Q1 Q2 Q3 Q4 Source: Company information 5
Slide 6: a-EBITDA evolution per quarter
a-EBITDA evolution per quarter. a-EBITDA (€m) Aluminium 2022 -44.9% 2023 -26.8% 66 -39.4% 2024 58 53 -47.2% -2.9% +19.6% 39 36 35 35 33 28 21 Q1 Q2 Q3 Q4 Copper 2022 2023 +45.6% +22.2% -9.6% 2024 31 +27.3% +84.3% 28 30 24 24 +29.2% 21 19 17 13 13 Q1 Q2 Q3 Q4 Source: Company information 6
Slide 7: a-EBITDA evolution per ton
a-EBITDA evolution per ton. By segment (EUR/ tons) AL -36% 605 -30% 386 270 H1’ 22 H1’ 23 H1’ 24 CU +9% +49% 641 589 396 H1’ 22 H1’ 23 H1’ 24 1. Source: Financial Statements and Company information. 7
Slide 8: Sales volume of Core Products by Market
Sales volume of Core Products by Market. Aluminium Revenue Breakdown (H1’24) Al Copper Revenue Breakdown (H1’24) Cu By Market (% of tons) By Market (% of tons) HVAC&R Other Industrial Markets Building & Construction Transportation 5% 2% 14% 9% Industrial Applications Energy & Power Networks 1% 28% 1
Slide 9: Revenue of Core Products per Geographical Segment
Revenue of Core Products per Geographical Segment. Al Revenue breakdown (H1’24) Revenue breakdown (H1’24) Cu By Geographical Segment (% of €) By Geographical Segment (% of €) America Greece America 5% Greece 11% 6% 5% UK Asia 3% Africa & Oceania 2% Africa & Oceania 2% 2% Other Other Europe Europe 6%
Slide 10: Consolidated Key Figures
AL Consolidated Resilient profitability and sales volumes. CU Key Figures. Accounting metal result turning positive. Volumes (kTn) Revenue (€m) EBITDA (€m) -3.2% +2.5% -8.6% -3.8% -51.2% 299 1,960 289 297 1,791 206 1,723 983 +14.4% 864 842 197 195 207 1. Adjusted for aluminium and copper price fluct
Slide 11: Consolidated Key Figures
Consolidated Resilient profitability and sales volumes. Key Figures. Accounting metal result turning positive. AL CU EBIT (€m) a - EBIT (€m) -63.3% -25.5% 172 125 -13.7% 93 +29.9% 81 96 1. Adjusted for aluminium and copper price fluctuations and other non recurring items. 135 82 49 33 63 22 25 60 44
Slide 12: Deviation analysis on the Consolidated Profit before taxes
Lower conversion prices and sales mix affected Deviation analysis on the profitability. Consolidated Profit before taxes. Accounting metal result ending its negative trend. Amounts in €m Lower conversion prices and sales mix, partially offset by the downward in Decrease of net debt energy costs. (-1
Slide 13: Analysis on the Consolidated Cash Flows
Profitability and successful management Analysis on the of working capital paves the way for Consolidated Cash Flows. further reduction of debt. Amounts in €m Improved due to Slowdown of Resilient successful management investments profitability. of working capital Repayment of long- term loans 115 2
Slide 14: Evolution of the Consolidated Net Debt & Working Capital
Evolution of the Consolidated Net Debt & Working Capital. Improved Net Debt and Working Capital y-o-y (H1’23) and from 31.12.2023. The majority of the Debt is on long-term tenure. Working Capital % of Sales Short term bank loans 30.06.2023 Current portion of long term ~ 19% ~ 19% ~ 18% 31.12.2023 Lo
Slide 15: Capex Evolution
Capex Slowing down Evolution. Investments. Cu Al 172 Source: Annual Financial Statements and Company information. 164 12 €m 20 145 15 420 116 22 95 92 160 26 34 144 -37% 130 53 38 94 13 33 69 58 10 40 23 2018 2019 2020 2021 2022 2023 H1’23 H1’24 15
Slide 16: Disclaimer
Disclaimer. The information contained in this corporate presentation (CP) has been prepared by ElvalHalcor S.A. (the Company). It is Forward Looking Statements based on historical financial data and other information already publicly disclosed by the Company. It also includes Certain statements in t
Slide 17: elvalhalcor.com
elvalhalcor.com