Elvalhalcor Hellenic Copper and Aluminium Industry (ELHA) Q1 2025 TU earnings summary

Executive summary

• Achieved strong financial performance in Q1 2025, with sales volumes up 1.5% year-over-year, led by robust demand in aluminum packaging and improved profitability despite macroeconomic and geopolitical pressures.

• Operating profitability (adjusted EBITDA) increased to EUR 64 million, up 31% year-over-year, and net debt declined by EUR 95 million to EUR 669 million, with a net debt to adjusted EBITDA ratio of 2.7.

• Net profit after tax reached EUR 41.6 million, nearly tripling year-over-year, and EPS rose to EUR 0.1074.

• Inflation and interest rates declined, but the business environment remained challenging due to ongoing global economic and geopolitical uncertainty.

Financial highlights

• Sales revenue rose 14% year-over-year to EUR 930.9 million, driven by higher volumes and favorable metal prices.

• EBITDA increased 58.3% to EUR 71 million, while adjusted EBITDA grew 31% to EUR 63.9 million.

• Earnings before tax (EBT) reached EUR 45 million, up 209% year-over-year.

• Adjusted EBIT was EUR 47 million, and EBIT including metal results was EUR 54 million.

• Net debt at the end of Q1 2025 was EUR 669 million, down 14% year-over-year, with a net debt/EBITDA ratio of 2.7.

Outlook and guidance

• No formal guidance for Q2 2025; management remains cautious but optimistic, aiming to further reduce net debt and leverage strategic opportunities while maintaining a prudent investment approach.

• The group is positioned for long-term growth through portfolio diversification and sustainability investments.