17 slides from Elvalhalcor Hellenic Copper And Aluminium Industry's earnings presentation, 2025
Slide 1: H1'25 Financial Results: Beyond Metals, Shaping Tomorrow
BEYOND METALS SHAPING TOMORROW H1’25 FINANCIAL RESULTS Beyond Metals Shaping Tomorrow
Slide 2: Highlights
Volumes sold 303 th. tons +2.1% YoY a-EBITDA HIGHLIGHTS € 134 M Driven by the aluminium packaging sector. +18.1% YoY Increased sales volume and conversion prices in conjunction EAT with improved result from scrap usage in the production € 74 M process. +45.2% YoY Net Debt Increased profitability and
Slide 3: Macroeconomic Charts
Macroeconomic Charts LME Prices TTF - Gas Higher average LME prices in H1’25 vs H1’24. Increased Natural Gas and DAM prices during H1’25 vs H1’24. Heren TTF Natural Gas -DAM LME 300.0 60 10,000 4,000 240.0 8,000 CU €/tn € / MWh 3,000 180.0 AL €/tn 30 120.0 6,000 2,000 60.0 4,000 1,000 0.0 0 Aluminiu
Slide 4: Consolidated Cost Analysis H1'2024 H1'2025
Increase in energy costs. Consolidated Cost Analysis Excluding Al, Cu, Zn, and other metals costs. H1’ 2024 H1’ 2025 Other operating Energy Other operating Energy 13% 13% 12% 16% Maintenance Maintenance 5% 5% Third party fees 16% Third party fees 17% 28% Employee benefits 28% Employee benefits 11% 1
Slide 5: Sales evolution per quarter
Sales evolution per quarter Sales volumes (‘000tn) 2023 Aluminium 2024 +8.3% +2.6% +11.4% 2025 +3.4% +3.1% +5.9% 106 109 108 100 104 98 100 97 97 94 Q1 Q2 Q3 Q4 Copper 2023 2024 -4.1% +3.2% 2025 -2.0% -4.7% +1.1% -1.2% 47 45 44 47 45 46 39 40 41 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 +19.8% 2023 +26.1% 2024 -47.2% +89.9% +16.8% -2.9% 42 44 2025 39 39 38 36 35 35 33 21 Q1 Q2 Q3 Q4 Copper 2023 2024 +22.1% -9.6% -12.5% -4.6% 2025 31 30 28 28 -7.2% +13.4% 25 24 24 22 19 17 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 -30% +42% 386 383 270 H1’ 23 H1’ 24 H1’ 25 CU +9% -9% 641 589 584 H1’ 23 H1’ 24 H1’ 25 1. Source: Company information. 7
Slide 8: Sales volume of Core Products by Market
Sales volume of Core Products by Market Aluminium Breakdown (Η1’25) Al Copper Breakdown (Η1’25) Cu By Market (% of tons) By Market (% of tons) HVAC&R Building & Construction Other Industrial Markets Transportation 4% 2% 12% Energy & Power Networks 9% Industrial Applications 1% 26% Transportation 12%
Slide 9: Revenue of Core Products per Geographical Segment
Revenue of Core Products per Geographical Segment Revenue breakdown (Η1’25) Al Revenue breakdown (Η1’25) Cu By Geographical Segment (% of €) By Geographical Segment (% of €) Αfrica & Oceania Greece Αfrica & Oceania Greece 95% outside 96% outside Americas Americas Greece 5% Greece 4% Asia 12% 1% Asia
Slide 10: Consolidated Key Figures
Consolidated Strong operational profitability and increased sales volume from Aluminium segment. AL Key Figures Metal result remained on the same level. CU Volumes (kTn) Revenue (€m) EBITDA (€m) +8.0% +20.8% +2.5% +2.1% -3.8% 1,791 1,862 +14.4% 139 297 303 1,723 289 115 936 101 864 842 46 91 195 207
Slide 11: Consolidated Key Figures (EBIT, EBT)
Consolidated Strong profitability & reduced financial costs. Key Figures. AL CU a - EBIT (€m) EBIT (€m) +24.1% +27.8% -13.7% 100 105 93 +29.9% 81 82 49 57 63 22 67 33 25 48 60 44 43 38 38 H1’ 23 H1’ 24 H1’ 25 H1’ 23 H1’ 24 H1’ 25 Finance result (€m) EBT (€m) +48.0% -11.3% 26 -23.3% 89 23 +55.2% 18 6
Slide 12: Deviation analysis on the Consolidated Profit before taxes
Deviation analysis on the Increased sales volume, higher conversion prices and favourable sales Consolidated Profit before taxes mix boosted profitability. Sales mix, with Amounts in €m increased Decrease of net Increased Increased On the same conversion prices debt demand for allowances in levels v
Slide 13: Analysis on the Consolidated Cash Flows
Analysis on the Increased LME prices affected Working Capital of the Group Consolidated Cash Flows FCF Amounts in €m 15 Μ€ Significantly De-escalation increased of LME prices profitability. at the end of March, although On the remained in same 139 higher levels levels as in than H1’24 prior year 18
Slide 14: Evolution of the Consolidated Working Capital & Net Debt
Evolution of the Consolidated Working Capital & Net Debt Improved Net Debt from 30.06.2025. Increased Working Capital needs due to increased LME prices. Working Capital % of Sales ~ 18% ~ 16% ~ 17% 30.06.2024 31.12.2024 +2% 30.06.2025 The majority of the Debt is on long-term + 11% tenure. 592 605 Sh
Slide 15: Capex Evolution
Capex On the same levels as in prior year Evolution Cu Al 172 Source: Annual Financial Statements and Company information. 164 12 €m 20 145 15 420 116 22 95 92 160 26 75 34 144 130 24 +12% 38 94 37 33 69 13 58 51 10 23 24 2018 2019 2020 2021 2022 2023 2024 Η1’24 Η1’25 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 th
Slide 17: elvalhalcor.com
elvalhalcor.com