Elvalhalcor Hellenic Copper and Aluminium Industry (ELHA) Q3 2025 TU earnings summary

Executive summary

• Achieved solid nine-month performance in 2025 with strong operational profitability and a significant reduction in net debt, despite volatile economic conditions, 50% U.S. tariffs, and challenging geopolitical and trade environments.

• Sales volumes reached 458,000 tons, up 3% year-over-year, driven by robust demand in aluminium packaging and key sectors.

• Profit after tax rose to EUR 98 million, up 29.4% year-over-year, with EPS increasing to EUR 0.2499.

• Net debt reduced by EUR 49 million to EUR 643 million, supported by strong free cash flows and lower finance costs.

Financial highlights

• Revenue reached EUR 2.74 billion, up 5.8% year-over-year, driven by increased volumes and higher metal prices.

• Adjusted EBITDA rose 5.1% to EUR 189 million; EBITDA reached EUR 191 million.

• EBIT increased to EUR 139 million; earnings after taxes stood at EUR 98 million.

• Free cash flow for the period was EUR 48 million; CapEx limited to EUR 58 million.

• Dividend payments increased by 125% year-over-year to EUR 34 million; cash balance at quarter-end was EUR 43 million.

Outlook and guidance

• No major investments planned for 2025 or 2026; focus remains on maintaining a strong balance sheet and operational profitability.

• Outlook remains optimistic with stabilizing energy prices, declining interest rates and inflation, and a new balance in international trade.

• Diversified portfolio and geographic footprint seen as key to resilience and agility, mitigating risks from tariffs and geopolitical uncertainty.

• Group is well positioned to benefit from global megatrends such as renewable energy, e-mobility, and data centers.