Resilient performance and lower leverage amidst challenging markets

Responding to demand fluctuations through a flexible business model and diversified portfolio

Significant growth in revenue and profitability for the cables and steel pipes segments, driven by the solid demand, the successful delivery of existing projects and award of new ones

Increase in the operating profitability of the copper segment, driven by an improved product mix, as well as the growing sales and profitability of Sofia Med

The aluminium segment was affected by the global downturn in demand especially in relation to products in the lithographic sector

The steel segment was affected by a contraction in the European construction sector demand, increased energy costs and the rise of imports from low-cost countries, partially offset by growth in the Greek construction market

Continued effort to adapt

Positive performance of the

product portfolio,

real estate division achieved

maximise capacity

through redevelopment of

utilization and increase

existing assets with a

operational efficiency

continued focus on

across industrial segments

sustainability and active

management of existing

properties

Financial Presentation | 2

Financial

Results

Consolidated

Revenue (EUR million)

4,198 3,850 5,375 6,986 6,302

2019

2020

2021

2022

2023

a-EBITDA (EUR million)

303 294 426 649 537

2019 2020 2021 2022 2023

PBT (EUR million)

276

375

32

59

91

2019

2020

2021

2022

2023

Consolidated revenue amounted to EUR 6.3 billion compared to EUR

6.9 billion in FY 2022 due to lower volumes and decline in metal prices.

Consolidated operating profitability (a-EBITDA) amounted to EUR 537 million vs. EUR 649 million in 2022. The slowdown of global economic growth, combined with inflationary pressures were partially counterbalanced by the continuing green transition trend and related demand.

Consolidated profit before income tax amounted to EUR 91 million compared to EUR 375 million in FY 2022, due to the drop of the metal prices, which turned metal results negative, and increased finance costs.

Financial Presentation | 3

Viohalco's divisions

Industrial division

Revenue:

€ 6,264 m

a-EBITDA:

€ 519 m

Aluminium

Copper

Cables

Steel Pipes

Steel

Revenue:

Revenue:

Revenue:

Revenue:

Revenue:

€ 1,887 m

€ 1,721 m

€ 991 m

€ 580 m

€ 1,014 m

a-EBITDA:

a-EBITDA:

a-EBITDA:

a-EBITDA:

a-EBITDA:

€ 153 m

€ 107 m

€ 152 m

€ 66 m

€ 42 m

Real estate division

Revenue:

€ 38 m

a-EBITDA:

€ 18 m

Financial Presentation | 4

Financial

Results Industrial division

Revenue (EUR million)

6,955

6,264

20222023

a-EBITDA (EUR million)

636519

20222023

Revenue of the industrial division amounted to EUR 6,264 million.

The operating profitability (a-EBITDA) of the industrial division amounted to EUR 519 million.

Revenue per segment (EUR million)

Aluminium

Copper

1,887 m

1,721 m

a-EBITDA per segment (EUR million)

Aluminium

Cables

153m

152 m

Steel

Cables

1,014 m

991 m

Steel pipes

Other

Activities,

580 m

69 m

Copper

Steel

107 m

pipes

66 m

Steel 42 m

Financial Presentation | 5

Financial

Results

Industrial division

FY 2023 Operating performance: a-EBITDA (EUR thousand)

Aluminium

Copper

Cables

Steel pipes

Steel

Other

@ 153€m

@ 107€m

@ 152€m

@ 66€m

@ 42€m

@ -1 €m

-70m|-31%

+32m|+43%

+42m|+38%

+41m|+164%

-154m|-79%

-8m|-114%

€ 636m

€ 519m

Financial Presentation | 6

Financial

Results

Industrial division

The industrial division's capital expenditure for the period amounted to EUR 281 million (FY 2022: EUR 317 million), mainly attributable to new production equipment in the aluminum segment; capacity increase of copper segment's subsidiary, Sofia Med; capacity increase of the offshore cables plant in Corinth and selective investments in onshore cables plants in Greece; capacity improvements at the steel pipes segment in the Thisvi plant ; machinery improvements and IT investments at the steel segment subsidiaries and development of the existing portfolio and new property development in the real estate division.

Net debt decreased significantly to EUR 1,720 million (31 December 2022: EUR 1,923 million).

Capex (EUR million)

Net debt (EUR million)

317

1,549

1,923

1,720

1,480

1,569

281

2022

2023

31.12.2019

31.12.2020

31.12.2021

31.12.2022

31.12.2023

Financial Presentation | 7

Financial

Results

Industrial division

FY 2023 Capex (EUR thousand)

Aluminium

Copper

Steel

Steel pipes

Cables

Other

@ 69€m

@ 27€m

@ 41€m

@ 17€m

@ 121€m

@ 5€m

-119m|-63%

+11m|+68%

+12m|+40%

+10m|+125%

+50m|-70%

+1m|+11%

€ 281 m

Financial Presentation | 8

Financial

Results

Industrial division

FY 2023 Net debt (EUR thousand)

€ 1,923 m

€ 1,720 m

Financial Presentation | 9

01

Aluminium segment at a glance

Attachments

Disclaimer

Viohalco SA published this content on 19 March 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 19 March 2024 11:32:04 UTC.