18 slides from Elvalhalcor Hellenic Copper And Aluminium Industry's earnings presentation, 2025
Slide 1: Q1'25 Trading update
Q1’25 Trading update Beyond Metals Shaping Tomorrow
Slide 2: Highlights
Volumes sold 148 th. tons +1,5% YoY a-EBITDA HIGHLIGHTS Despite the weak demand, sales volumes increased driven by the aluminium packaging sector. € 64 M +31,0% YoY EBT Boosted by improved conversion prices and favorable sales mix € 45 M +€ 30M YoY Net Debt Positively affected by the increased profi
Slide 3: Macroeconomic Charts
Macroeconomic Charts LME Prices TTF - Gas Increased LME prices during Q1’25 vs Q1’24. Rapid decline of LME in the Increased Natural Gas prices during Q1’25 vs Q1’24. end of the Quarter. Heren TTF Natural Gas LME 4.500 10.000 100 4.000 90 9.000 80 3.500 8.000 70 CU €/tn 3.000 € / MWh AL €/tn 60 7.000
Slide 4: Consolidated Cost Analysis
Consolidated Cost Analysis Increase in energy costs Excluding Al, Cu, Zn, and other metals costs. Q1’ 2024 Q1’ 2025 Other operating Energy Other operating Energy 14% 13% 11% Maintenance 17% Maintenance 5% 6% Third party fees 16% Third party fees 15% 29% Employee benefits 28% Employee benefits 10% 11
Slide 5: Sales evolution per quarter
Sales evolution per quarter Sales volumes (‘000tn) 2023 Aluminium 2024 +3.1% +8.3% +11.6% 2025 +3.4% +5.7% 104 106 108 97 101 98 97 100 94 Q1 Q2 Q3 Q4 Copper 2023 2024 -4.1% 2025 -2.0% -4.7% +1.1% -0.7% 47 45 44 47 45 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 2023 +26.1% 2024 -47.2% +89.9% +16.8% -2.9% 44 2025 39 39 38 36 35 35 33 21 Q1 Q2 Q3 Q4 Copper 2023 2024 +22.1% -9.6% -12.5% 2025 31 30 -7.2% 28 +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 -49% +85% 402 378 204 Q1’ 23 Q1’ 24 Q1’ 25 CU -6% -11% 662 623 554 Q1’ 23 Q1’ 24 Q1’ 25 1. Source: Company information. 7
Slide 8: Sales volume of Core Products by Market
Sales volume of Core Products by Market Aluminium Breakdown (Q1’25) Al Copper Breakdown (Q1’25) Cu By Market (% of tons) By Market (% of tons) HVAC&R Building & Construction Other Industrial Markets Transportation 4% Energy & Power Networks 2% 11% 9% Industrial Applications 1% 26% Transportation 12%
Slide 9: Revenue of Core Products per Geographical Segment
Revenue of Core Products per Geographical Segment Al Revenue breakdown (Q1’25) Revenue breakdown (Q1’25) Cu By Geographical Segment (% of €) By Geographical Segment (% of €) Αfrica & Oceania Greece Αfrica & Oceania Greece 95% outside 96% outside Americas Americas 5% Greece Greece 13% 1% 4% Asia Asia
Slide 10: Consolidated Key Figures
Consolidated Strong performance in sales volumes and operational profitability. AL Key Figures Positive metal result enhances EBITDA. CU Volumes (kTn) Revenue (€m) EBITDA (€m) +14.0% +58.3% +1.0% +1.5% -12.2% 931 930 71 144 146 148 817 -20.2% 56 443 470 400 45 97 101 104 23 51 14 487 417 460 33 31 4
Slide 11: Consolidated Key Figures
Consolidated Resilient profitability & Key Figures. Reduced financial costs. AL CU a - EBIT (€m) EBIT (€m) +98.9% -40.0% +50.6% 52 54 47 -27.7% 26 37 31 27 39 10 27 9 2 26 22 27 25 20 15 Q1’ 23 Q1’ 24 Q1’ 25 Q1’ 23 Q1’ 24 Q1’ 25 Finance result (€m) EBT (€m) +209.0% -7.3% -22.4% 13 45 13 -41.0% 10 8
Slide 12: Deviation analysis on the Consolidated Profit before taxes
Increased sales volume, higher conversion prices and Deviation analysis on the favourable sales mix boosted profitability. Consolidated Profit before taxes Accounting metal result turns to positive. Amounts in €m Sales mix, with Turns positive as increased metal prices conversion prices increased. D
Slide 13: Analysis on the Consolidated Cash Flows
Analysis on the Increased LME prices affected Consolidated Cash Flows Working Capital of the Group Amounts in €m Significantly Increased increased needs due to profitability. uptrend in LME prices 71 6 80 68 72 2 16 10 Cash and Cash equivalents EBITDA Interest paid Working Capital Other operating In
Slide 14: Evolution of the Consolidated Working Capital & Net Debt
Evolution of the Consolidated Working Capital & Net Debt Improved Net Debt from 31.03.2024. Increased Working Capital needs due to increased LME prices. The majority of the Debt is on long-term Working Capital % of Sales tenure. Short term bank loans ~ 18% ~ 16% ~ 17% 31.03.2024 Current portion of l
Slide 15: Capex Evolution
Capex Evolution Minor investments. 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 38 94 -20% 69 58 51 20 16 7 4 13 12 2018 2019 2020 2021 2022 2023 2024 Q1’24 Q1’25 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
Slide 18: Q&A Session
Q&A SESSION Beyond Metals Shaping Tomorrow