Elvalhalcor Hellenic Copper And Aluminium Industry S.a. · ATHEX:ELHA
Elvalhalcor Hellenic Copper And Aluminium Industry — ElvalHalcor — Investor Presentation (June 2025)
61 slides from Elvalhalcor Hellenic Copper And Aluminium Industry's investor presentation, Jun 30, 2025
Slide 1: Beyond Metals, Shaping Tomorrow
CORPORATE PRESENTATION 2025 BEYOND METALS SHAPING TOMORROW 30.06.2025
Slide 2: Table of Contents
TABLE OF CONTENTS 01 We are ElvalHalcor 02 Sustainability 03 Aluminium segment 04 Copper segment 05 Our performance Corporate Presentation 2025 2
Slide 3: Viohalco at a Glance
VIOHALCO A Euronext-listed holding company of leading metal processing AT A GLANCE companies across Europe. Viohalco companies specialize in the manufacture of aluminium, copper, steel, steel pipes and cables products. Viohalco’s portfolio also includes a dedicated R&D and technology segment, and a
Slide 4: Viohalco Structure
VIOHALCO STRUCTURE Elval Elval Bridgnorth Etem Aluminium ElvalHalcor Aluminium Symetal Viomal Colour Aluminium Bulgaria rolling division Halcor Epirus Copper Copper and alloys Sofia Med Metalworks extrusion division Cenergy Holdings Corinth CPW Steel Pipes Pipeworks America Viohalco Hellenic Icme Ca
Slide 5: We are ElvalHalcor
01. We are ElvalHalcor
Slide 6: ElvalHalcor at a Glance
ELVALHALCOR AT A GLANCE ElvalHalcor was formed in No.2 aluminium December 2017 Νο.1 copper tubes rolling plant*** via the merger More than producer in Europe of Elval and 85 years of in EMEA* (in hot rolling Halcor experience (by volume)** capacity) Strong export Powered by ElvalHalcor’s Listed on o
Slide 7: Corporate Structure Overview
CORPORATE STRUCTURE OVERVIEW Other Participations 30.06.2025 93% 28% Other Shareholders 15.2% 84.8% Aluminium segment Copper segment 100% 100% 50% 89% 100% 100% 50% 93% 75% 49% 50% 50% NedZink Holdings UACJ ElvalHalcor, HC Isitma, NedZink and Halcor-NTT are JVs Corporate Presentation 2025 7
Slide 8: International Focus
INTERNATIONAL Highly extrovert business model with solid presence in more than 90 countries around the globe and revenues FOCUS generated abroad representing over. Production Group facilities turnover (FY’24) The Netherlands 5% Greece 64% Other EU Other Europe 9% (non EU) Bulgaria 8% UK 9% America 3
Slide 9: Our Key Numbers
OUR KEY NUMBERS A Greek-based leading global player in the non-ferrous metals industry. 2024 €3.4bn €3.3bn €238m €996m revenue total exports a-EBITDA investments during the last 10 years 414 171 sales in more than 15 thousand tons thousand tons 90 countries state of the art volume of sales - volume
Slide 10: Pass-Through Business Model
PASS-THROUGH Focus on maximizing Net Added Value, with limited exposure to BUSINESS MODEL commodity price volatility. Raw Material Costs Sales Price ElvalHalcor purchases primary copper and Net Added EH Added Value (Fabrication and aluminium, scrap and alloying metals to remelt Value Transportation
Slide 11: Sustainability: Shaping Tomorrow
02. Sustainability Shaping tomorrow
Slide 12: Sustainability Strategy
SUSTAINABILITY Committed to sustainable STRATEGY growth. A comprehensive strategy with the aim of the integrated management of all environmental, social and governance risks. STRATEGIC PILLARS Εnergy transition Carbon footprint Health and Safety Supply chain Progressive transition to the Setting sho
Slide 13: Environment Social Governance
ENVIRONMENT SOCIAL Risks mitigation is a priority for the Company’s GOVERNANCE responsible operation. Environment Social • Applying circular economy • Prioritise on the health and safety principles in all aspects of of our people production • Support local communities • Continuous improvement of our
Slide 14: Sustainable Operation
SUSTAINABLE Track record highlighting actions for continuous OPERATION improvement in material issues. Aluminium and State of the art Online monitoring Copper recycling industrial wastewater and control for low carbon products treatment for the of environmental parameters Oinofyta plants Recovery of
Slide 15: Empowering Our People
EMPOWERING Our people are the key OUR PEOPLE to our success. Our people and partners’ We empower our people A rewarding work Continuous, ongoing health and safety is by improving leadership skills, environment based on training and employee primary concern developing and promoting talent equal oppor
Slide 16: A Powerful Sector of the Greek Economy
A POWERFUL SECTOR Our financial and social footprint in Greece is significant according to an impact study OF THE GREEK ECONOMY conducted by IOBE (2024 data). €2.2bn €1.2bn 7.8% 53.5% production value annual total impact of the country’s total exports in 2024 of ElvalHalcor’s activity total industri
Slide 17: R&D ElvalHalcor
R&D ElvalHalcor invests continuously in R&D of processes, products, and materials ElvalHalcor while promoting innovation. In-house R&D Technology Centres Customised alloys Optimised Tailor-made, that meet customers’ production end-product technical challenges processes solutions Collaborations with
Slide 18: R&D & Technology
R&D & TECHNOLOGY ELKEME focuses on industrial research to develop efficient technologies, cutting- edge products, integrated solutions and provides full technical consultancy and scientific support. ELKEME maintains strong connections to and cooperation with national and international academia. Prod
Slide 19: Megatrends
Enabling the transition Megatrends to climate neutrality.
Slide 20: Megatrends Enablers
MEGATRENDS Enabling the transition ENABLERS to climate neutrality. Circular economy Transition to net zero • Low carbon and recyclable products • Electrification • Solutions with increased • Power storage recycled content • E-mobility • Sustainable packaging • RES growth • Plastic replacement Urbani
Slide 21: Products Megatrends
PRODUCTS MEGATRENDS Aluminium segment’s products & solutions • Sheets and coils for beverage cans, food • Sheets and coils for automotive applications, • Tread plates and wide sheets for windmill containers, closure caps heat exchangers platforms and nacelles • Foil for food pouches and pharmaceutic
Slide 22: Aluminium: The Metal of the Future
ALUMINIUM: Plays a key role in sustainability THE METAL OF THE FUTURE and circular economy. Integral part of industrial sectors Endless applications in our everyday life due to superior properties of durability formability, lightweight, design and corrosion resistance Infinitely recyclable Can be re
Slide 23: Copper: For a Sustainable World
COPPER: Plays a key role in sustainability FOR A SUSTAINABLE WORLD and circular economy. In many modern applications Durable, malleable, with high thermal and electrical conductivity 100% Recyclable Copper can be recycled infinitely without losing its properties or performance Antimicrobial properti
Slide 24: Overview of Growth Drivers
OVERVIEW Global effort for reduction of plastic pollution is leading to increased demand for fully recyclable OF GROWTH DRIVERS materials like aluminium and copper. S GE N LE To address our climate and energy challenges, Aluminium and Copper are 100% recyclable AL we need to move towards a greener a
Slide 25: Overview of Growth Drivers
OVERVIEW Global effort for reduction of plastic pollution leads to increased demand for fully recyclable OF GROWTH DRIVERS materials like aluminium. The aluminium can is the most recycled beverage container by consumers. The closed loop nature of aluminium can recycling, and the metal’s inherent hig
Slide 26: Growth Drivers: Aluminium E-Mobility
GROWTH DRIVERS Aluminium demand will be substantially impacted by the growing market for electric ALUMINIUM E-MOBILITY vehicles (EVs) over the next decade. With the EU’s ambitious target of a 55% reduction in CO² Average aluminum content per vehicle (net weight) emissions for cars by 2030, aluminium
Slide 27: Aluminium Segment
03. Aluminium segment Shaping tomorrow
Slide 28: Aluminium Segment
ALUMINIUM SEGMENT State of the art 92% of turnover in sales production facilities abroad in 90 countries €840mil. Invested in equipment 7 plants in Greece for capacity expansion and quality improvement during the last 10 years Corporate Presentation 2025 28
Slide 29: Core Products by Market & Geographical Segment - Aluminium
CORE PRODUCTS BY MARKET & GEOGRAPHICAL SEGMENT - ALUMINIUM SEGMENT FY 2024 By Market (% of tons) By Geographical Segment (% of €) Building & Construction Greece 14% Asia 6% HVAC&R 3% 5% Energy & Power Networks Africa & Oceania 1% Other Europe 1% 12% EU (excl. Greece) Transportation 12% UK 64% 3% Ind
Slide 30: Main Production Facilities
MAIN PRODUCTION FACILITIES Flat products-Rolling | Oinofyta, Greece Flat rolled aluminium products and solutions for the packaging, building and construction, automotive, sea, road and rail transportation, defence, energy, HVAC&R and industrial markets. Capacity 450,000 tons/year Corporate Presentat
Slide 31: Main Production Facilities
MAIN PRODUCTION FACILITIES Aluminium Foil Rolling | Oinofyta, Greece Aluminium foil converting and lacquer production | Mandra, Greece Foil for: • Conversion of aluminium foil into packaging applications • Flexible packaging (food & pharma) • Aluminium foil coating and/or paper lamination for produc
Slide 32: Main Production Facilities
MAIN PRODUCTION FACILITIES Aluminium composite panels & coated Rolling Shutters | Nea Artaki, Greece Aluminium recycling and casting | products | Agios Thomas, Greece Agios Thomas, Viotia, Greece Solutions for a complete range of coated • Aluminium rolling shutters and doors • Aluminium billets alum
Slide 33: Aluminium - Rolled Products/Markets
ALUMINIUM - ROLLED PRODUCTS/MARKETS Elval is among the top suppliers of Marine Defense projects worldwide while supplying materials for other defense-related applications Packaging Shipbuilding • Beverage cans • Patrol vessels • Food containers • Catamarans • Flexible packaging • Yachts • Household
Slide 34: Aluminium - Rolled Products/Markets
ALUMINIUM - ROLLED PRODUCTS/MARKETS Commercial Transportation Automotive • Tipper trucks • Internal parts • Road silos • Heat exchangers • Refrigerator trucks • Air pressure vessels/ Fuel tanks • Cargo wagons • Suspension & brake systems Corporate Presentation 2025 34
Slide 35: Aluminium - Rolled Products/Markets
ALUMINIUM - ROLLED PRODUCTS/MARKETS Industrial Applications Domestic Applications • Renewable energy • Cookware • Bus ducts • White goods • Data centers • Telecommunication cabins Corporate Presentation 2025 35
Slide 36: Aluminium - Rolled Products/Markets
ALUMINIUM - ROLLED PRODUCTS/MARKETS Building & Construction • Façades • Rain gutters • Multi-layer tubes • Functional coatings • Flashings • Roller shutters • Roofing • False ceilings Corporate Presentation 2025 36
Slide 37: Certified Processes & Quality Standards
CERTIFIED PROCESSES & QUALITY STANDARDS • Quality: certified according to • Certified according to AS9100 ISO 9001:2015 Standard • Environmental management • Certified according to system: certified with ISO 14001:2015 ISO 27001:2013 Standard • Energy management system: • Certifications by all major
Slide 38: Copper Segment
04. Copper segment Shaping tomorrow
Slide 39: Copper Segment
COPPER SEGMENT State of the art production European Products sold in High Strong input in: facilities for copper and copper market leader around specifications • HVAC&R industry alloy and zinc titanium products: in copper tubes. output according • Automotive industry • Largest tube mill in EMEA 80 t
Slide 40: Production Facilities
PRODUCTION FACILITIES Copper Alloy Bars, Tubes and Wires | Foundry | Oinofyta, Greece Copper Tubes | Oinofyta, Greece Oinofyta, Greece Foundry producing: Copper tubes plant producing: Specialises in the production of extruded • Copper billets and slabs • Copper tubes with or without copper alloy. •
Slide 41: Production Facilities
PRODUCTION FACILITIES Copper / Copper alloys rolled & extruded | Sofia, Bulgaria Specialises in the production of a wide range of bare and plated Capacity rolled and extruded copper and copper alloy products. 145,000 tons/year Corporate Presentation 2025 41
Slide 42: Main Production Facilities
MAIN PRODUCTION FACILITIES Coin blanks - Case & bullet cups – Circles | Pogoni, Ioannina, Greece Tubes | Gebze, Turkey Titanium Zinc | Budel, Netherlands Specializes in the production of all types of coin blanks, Specialises in the production of Specialises in the production of rolled ings for bi-co
Slide 43: Core Products by Market & Geographical Segment - Copper
CORE PRODUCTS BY MARKET & GEOGRAPHICAL SEGMENT - COPPER SEGMENT FY 2024 By Market (% of tons) By Geographical Segment (% of €) Other Industrial Markets Asia Industrial Applications 2% 3% Greece 28% 5% Transportation America 8% Africa & Oceania 7% 2% Building & Construction Other Europe 22% EU (excl.
Slide 44: Products & Main Applications
PRODUCTS & MAIN APPLICATIONS HVAC&R Building & Construction Industrial Applications • Air-conditioning • Water supply and heating networks • Fittings • Refrigeration • Under floor heating and cooling • High frequency cables • Heat exchangers • Air-conditioning • Boilers • Heat pumps • Refrigeration
Slide 45: Products & Main Applications
PRODUCTS & MAIN APPLICATIONS Renewable Energy Extruded Products • Solar absorbers Copper alloy and brass rods, bars, tubes, wires for: • Solar system networks • Building & Construction, Electrical Engineering • Geothermal heating & cooling • Automotive, Naval and Decoration applications Corporate Pr
Slide 46: Products & Main Applications
PRODUCTS & MAIN APPLICATIONS Automotive Commercial Architecture Industrial Electronic / Electrical transportation Decoration • General mechanical • Electrical • Windmills • Connectors • Roofing engineering engineering • Transformers • Battery terminals • Façades • Heat exchangers equipment • Solar s
Slide 47: Products & Main Applications
PRODUCTS & MAIN APPLICATIONS Coin Blanks, Circles, DDQ • Coin blanks all types • Rings for bi-colour coin blanks • Cymbals • Decorative parts • Boilers for Solar Systems • Deep drawing products • Case cups and bullet cups Corporate Presentation 2025 47
Slide 48: Certified Processes & Quality Standards
CERTIFIED PROCESSES & QUALITY STANDARDS • Quality management system: certified according to ISO 9001:2015 • Environmental management system: certified according to ISO 14001:2015 • Energy management system: certified according to ISO 50001:2018 • Health and safety management system: certified accord
Slide 49: Our Performance
05. Our Performance
Slide 50: Consolidated Key Figures
Resilient profitability and sales volumes. CONSOLIDATED Accounting metal result turning positive. KEY FIGURES Al Cu Volumes ( kTn ) Revenue (€m) EBITDA (€m) -11.3% +4.4% -45.9% 3,714 326 +37.6% 3,293 3,438 79 2,883 1,787 243 1,707 215 1,669 190 175 171 2,029 1,543 176 103 190 91 176 1,053 121 80 248
Slide 51: Consolidated Key Figures
Reduced CONSOLIDATED financial costs. KEY FIGURES EBIT (€m) a - EBIT (€m) Al -59.8% -17.5% Cu 257 201 +3.2% +71.3% 57 44 166 171 177 147 72 79 83 98 68 103 74 200 36 157 59 57 28 94 92 21 94 79 63 46 46 38 2020 2021 2022 2023 2024 2020 2021 2022 2023 2024 EBT (€m) Finance result (€m) +27.5% -78.5% -
Slide 52: Sales Evolution per Quarter
SALES EVOLUTION Sales volumes (‘000tn). PER QUARTER Aluminium +7.1% +12.4% +8.8% +5.9% +3.4% +8.3% +11.4% +6.2% +2.8% - 4.1% - 7.0% +2.8% 106 104 108 100 102 98 100 94 97 95 97 94 91 91 91 85 76 77 79 2020 67 2021 2022 2023 2024 Q1 Q2 Q3 Q4 Copper - 0.8% - 0.1% - 1.3% - 4.6% - 1.2% +1.0% - 8.6% - 4.
Slide 53: a-EBITDA Evolution per Quarter
a - EBITDA ( €m). a - EBITDA EVOLUTION PER QUARTER Aluminium 2020 2021 +13.3% +17.2% 2022 +2.6% 66 +13.6% +26.1% 2023 - 2.9% 58 +16.8% 53 - 47.2% 2024 44 39 36 38 35 35 33 30 29 28 26 24 23 23 19 21 21 Q1 Q2 Q3 Q4 Copper +18.8% +21.5% 2020 - 9.6% +22.1% +15.2% 2021 - 7.2% +20.5% 31 30 +13.4% 2022 28
Slide 54: Evolution of Consolidated Working Capital and Net Debt
EVOLUTION OF THE CONSOLIDATED Improved Net Debt and Working Capital from 31.12.2023. WORKING CAPITAL AND NET DEBT Improved Net Debt and Working Capital from 31.12.2023 The majority of the Debt is on long-term tenure Working Capital % of Sales Short term bank loans ~22% ~20% ~21% ~19% ~16% 6% Current
Slide 55: Capex Evolution
CAPEX EVOLUTION €m 172 164 12 20 145 15 116 22 95 92 420 160 26 75 65 34 144 61 130 24 12 49 13 8 94 69 Aluminium 49 52 58 51 41 38 Copper 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Source: Annual Financial Statements and Company information. Corporate Presentation 2025 55
Slide 56: World-Class Investments
WORLD-CLASS Continuous and targeted investments INVESTMENTS in key areas. New Cold Rolling Mill (Mino) - Aluminium segment New Lacquering line (Andritz) - Aluminium segment New bell annealing facility - Copper segment Four-stand Tandem hot finishing mill - Aluminium segment Corporate Presentation 20
Slide 57: Conclusion. Highlights
CONCLUSION. HIGHLIGHTS ElvalHalcor has invested State of the art The 2nd aluminium A proven track-record, significantly in the last equipment rolling plant in Europe having reached No1 years and is ready to and production (in terms of hot rolling in the Cu tubes leverage the benefits. facilities. ca
Slide 58: Income Statement
INCOME STATEMENT PROFIT & LOSS STATEMENT EBITDA CALCULATION Amounts in € million 2022 2023 2024 2022 2023 2024 Revenue 3,714.2 3,293.4 3.438,5 Depreciation 71.6 74.8 67.6 Aluminium Segment 1,927.5 1,624.6 1,730.9 Grant Depreciation (1.7) (1.5) (1.5) Copper Segment 1,786.7 1,668.9 1,707.6 EBITDA 326.
Slide 59: Balance Sheet
BALANCE SHEET BALANCE SHEET BALANCE SHEET HIGHLIGHTS Amounts in € million 2022 2023 2024 Amounts in € million 2022 2023 2024 Non-current Assets (i) Working Capital Property. Plant and Equipment 1,031.7 1,051.7 1,055.4 Inventories 861.9 734.7 802.0 Right of Use assets 18.6 10.4 14.8 Trade and Other R
Slide 60: Disclaimer
DISCLAIMER The information contained in this corporate presentation (CP) has been prepared by ElvalHalcor S.A. (the Com- Forward Looking Statements pany). It is based on historical financial data and other information already publicly disclosed by the Company. Certain statements in the CP are forwar
Slide 61: Beyond Metals Shaping Tomorrow
CORPORATE PRESENTATION 2025 BEYOND METALS SHAPING TOMORROW www.elvalhalcor.com