Elvalhalcor Hellenic Copper And Aluminium Industry S.a. · ATHEX:ELHA
Elvalhalcor Hellenic Copper And Aluminium Industry — ElvalHalcor — 9M 2023 Earnings Presentation
19 slides from Elvalhalcor Hellenic Copper And Aluminium Industry's earnings presentation
Slide 1: Q3'23 Trading Update
Q3’23 Trading Update
Slide 2: Financial Highlights
Financial Highlights. 01 02 03 04 05 Demand remains subdued across Robust operational profitability Increased Interest costs were Slowdown of investments Drop in Net Debt due to most markets. Interest rates hikes with a-EBITDA at EUR 189.7 million. partially offset by the decrease in following the c
Slide 3: Macroeconomic Charts
Macroeconomic Charts. LME Prices TTF - Gas Global demand for metals is affecting prices. Improved supply, lower consumption. Europe's NG reserves full. LME PRICES 300.00 TTF DAILY PRICES 10,000 4,000 250.00 8,000 200.00 CU €/tn 3,000 150.00 €/MWh AL €/tn 6,000 2,000 100.00 50.00 4,000 1,000 0.00 Alu
Slide 4: Consolidated Cost Analysis
Consolidated Stable Energy costs excluding Al, Cu, Zn, and other Cost Analysis. metals costs. 9Μ’22 9Μ’23 Other operating Other operating Energy Energy 14% 18% 13% 18% Maintenance Maintenance 5% 6% Third party fees 12% Third party fees 13% 26% 26% Employee benefits Employee benefits 11% 12% Deprecia
Slide 5: Sales evolution per quarter
Sales evolution per quarter. Sales Volumes (‘000tn) Aluminium +12.4% +9.4% +10.9% +2.8% -4.1% -6.6% 2021 +0.3% 102 104 94 97 98 95 97 2022 91 91 91 85 2023 Q1 Q2 Q3 Q4 Copper 2021 2022 +5.1% +5.8% -8.6% -6.9% -3.7% -9.4% 2023 -9.2% 49 52 48 51 48 47 47 45 43 44 39 Q1 Q2 Q3 Q4 5 Source: Company infor
Slide 6: a-EBITDA evolution per quarter
a-EBITDA evolution per quarter. a-EBITDA (€m) Aluminium +117.3% -44.9% 2021 +106.7% +98.0% 66 -39.4% 2022 -26.8% 58 53 2023 39 36 +20.2% 35 30 29 28 26 23 Q1 Q2 Q3 Q4 Copper +45.6% +27.3% 2021 +33.3% 31 +84.3% +47.8% 2022 24 24 21 -19.6% -4.8% 2023 19 16 16 13 13 14 13 Q1 Q2 Q3 Q4 6 Source: Company
Slide 7: a-EBITDA evolution per ton
a-EBITDA evolution per ton. By Segment (EUR/ tons) CAGR +10% AL 590.0 378.3 314.8 9M’21 9M’22 9M’23 CU +37% 591.4 366.0 315.4 9M’21 9M’22 9M’23 1. Source: Financial Statements and Company information. 7
Slide 8: IVA per ton evolution
IVA per ton evolution. By Segment (EUR/ tons) +38% -7% Al 1,600.0 1,481.7 1,161.0 30.09.2021 30.09.2022 30.09.2023 Cu +13% +29% 1,606.9 1,419.4 1,103.3 30.09.2021 30.09.2022 30.09.2023 8 Source: Company information
Slide 9: Revenue of Core Products by Market
Revenue of Core Products by Market. Al Cu Aluminium Revenue Breakdown (9M’23) Copper Revenue Breakdown (9M’23) By Market (% of tons) By Market (% of tons) Transportation Other Industrial Markets HVAC&R Building & Construction 2% 6% 8% 13% Energy & Power Networks Industrial Applications 1% 30% Energy
Slide 10: Revenue of Core Products per Geographical Segment
Revenue of Core Products per Geographical Segment. Cu Al Revenue breakdown (9Μ’23) Revenue breakdown (9Μ’23) By Geographical Segment (% of €) By Geographical Segment (% of €) America Greece America 7% 4% Greece 9% 5% UK Asia 4% Africa & Oceania 5% Africa & Oceania 2% 3% Other Other Europe Europe 7%
Slide 11: Consolidated Key Figures
Resilient operating profitability. Consolidated Accounting metal result turns negative. AL CU Key Figures. Increased financial costs. Volumes (kTn) Revenue (€m) EBITDA (€m) +7.8% +38.2% -4.6% -11.2% +67.8% -50.9% 446 2,877 426 295 414 2,555 2,083 1,502 1. Adjusted for aluminium and copper price fluc
Slide 12: Consolidated Key Figures
Resilient operating profitability. Consolidated Accounting metal result turns negative. Key Figures. Increased financial costs. EBIT (€m) a - EBIT (€m) +94.5% +124.8% -63.6% -25.4% 243 179 133 1. Adjusted for aluminium and copper price fluctuations and other non recurring items. 125 190 142 79 71 88
Slide 13: Deviation analysis on the Consolidated Profit before taxes
Deviation analysis on the Increased costs and downtrend in Consolidated Profit before taxes. metal prices. Increased costs, lower spread between scrap and primary prices, partially offset by improved Amounts in €m mix. 205.7 12.4 From accounting metal Increased profit -> metal loss as interest rates
Slide 14: Analysis on the Consolidated Cash Flows
Strong Profitability and successful Analysis on the management of working capital paves the Consolidated Cash Flows. way for further reduction of debt. Amounts in €m Improved working capital management, lower metal Slowdown of prices. investments Robust operational Repayment of profitability. 10.8 1
Slide 15: Evolution of the Consolidated Working Capital and Net Debt
Evolution of the Consolidated Working Capital and Net Debt. Consolidated Net Debt Breakdown (€m) Working Capital % of Sales -20.7% 1,088 Improved WC over the year-end and y-o-y (9M’22). ~ 21% 956 ~ 21% ~ 20% 862 ~ 26% Long-term 801 784 744 Amounts in €m 30.09.2022 973 31.12.2022 945 Short-term 331 -
Slide 16: Debt Maturity
Debt Well positioned Maturity. to meet the challenges. Majority of Debt is on Long-term tenure. 55% of the loans on a fixed rate. Partially hedged from the potential increase of interest rates. ~ 21% Short term bank loans Fixed through IRS use 7% Current portion of long term 19% 12% Long term Fixed
Slide 17: Capex Evolution
Capex Slowing down Investments. Evolution. Cu Al 172 Source: Annual Financial Statements and Company information. 164 12 €m 20 145 Cu 15 132 Al 5 420 116 22 92 160 70 34 144 130 127 17 38 94 58 53 2018 2019 2020 2021 2022 9M’22 9M’23 17
Slide 18: 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 19: www.elvalhalcor.com
www.elvalhalcor.com