Viohalco S A : Financial Results H1 2023

A strong financial performance amid market headwinds

Viohalco companies' results reflect a strong underlying operational performance

Sustainability	Major contract wins	Resilience against a slow-
megatrends remain	and successful	down in the demand for
strong. The energy	delivery of existing	aluminium and steel
transition and the shift	projects in the	products, with the ability
towards a low carbon	cables and steel	to keep gaining market
economy have driven	pipes segments	share in a challenging
increased demand for		macroeconomic backdrop
products used in RES and
EV manufacturing

Improved adjusted operational profitability

for the copper segment, mainly due to the improvements in productivity and competitive positioning of Sofia Med

Growth of the real estate

portfolio, through active asset management and redevelopment of existing assets, with a continued focus on sustainability

Reinforced competitive positioning and further

expansion into new markets boosted by investment in process efficiency, capacity expansion, high product quality and value added-products,along with new technologies

KEY

HIGHLIGHTS

Corporate Presentation | 2

Financial

Results

Consolidated

Revenue (EUR million)

3,597 3,364

2,216 1,875 2,489

H1 2019 H1 2020 H1 2021 H1 2022 H1 2023

Viohalco's consolidated revenue down 6.5 % year-on year to EUR 3.4 billion (H1 2022: EUR 3.6 billion), primarily due to the weaker demand in the aluminium and steel segments and the downtrend in metal prices, partially offset by the strong performance and continued growth momentum in the cables segment and the positive turnaround of the steel pipes segment.

a-EBITDA (EUR million)

156 128

355

196

269

Consolidated adjusted EBITDA down 24% year-on-year to EUR 269 million (H1 2022: EUR 355 million), as a result of the reduction in revenue and the intensified inflationary pressures.

H1 2019 H1 2020 H1 2021 H1 2022 H1 2023

PBT (EUR million)	293
17	-7	137

61

Consolidated profit before income tax amounted to EUR 61 million

versus EUR 293 million in H1 2022, further impacted by the increased interest rates.

H1 2019 H1 2020 H1 2021 H1 2022 H1 2023

Corporate Presentation | 3

Viohalco's divisions

Aluminium	Copper	Cables
Revenue:	Revenue:	Revenue:
€ 1,015 m	€ 958 m	€	460 m
a-EBITDA:	a-EBITDA:	a-EBITDA:
€ 81 m	€ 59 m	€	59 m

Industrial division

Real estate division

Revenue:

• 17 m

a-EBITDA:

• 9 m

Steel Pipes	Steel
Revenue:	Revenue:
€ 305 m	€ 573 m
a-EBITDA:	a-EBITDA:
€ 28 m	€ 36 m

Corporate Presentation | 4

Financial

Results

Industrial division

Revenue per segment (EUR million)

Revenue (EUR million)

3,583			3,347	Τhe revenue of the industrial division		Steel	Cables
					amounted to EUR 3,347 million.		573 m	460 m
					Aluminium	Copper		Other Activities,	Other
					1,015 m		Steel pipes	Activities,
	H1 2022	H1 2023	958 m	305 m
		36 m
					a-EBITDA per segment (EUR million)
a-EBITDA (EUR million)
350							Steel
				260	The operating profitability (a-EBITDA) of			36 m
					the industrial division amounted to EUR
					260 million.			Steel pipes
					Aluminium	Copper	Cables	28 m
	H1 2022	H1 2023	81 m	59 m	59 m

EBT per segment (EUR million)

PBT (EUR million)
294			Consolidated profit before income tax
				amounted to EUR 55 million, compared
			55	to EUR 294 million in H1 2022.

Steel pipes

10 m

H1 2022	H1 2023	Copper	Cables	Aluminium
		32 m	20 m	2.5 m

Corporate Presentation | 5