Viohalco (VIO) H1 2025 earnings summary

Executive summary

• Revenue rose 14% year-over-year to €3.7 billion, driven by higher sales volumes and prices across all segments, with aluminium and cables showing the strongest growth.

• Adjusted EBITDA increased 39% to €378 million, reflecting a shift to higher-margin products, operational efficiency, and disciplined cost management.

• Profit before tax more than doubled to €229 million (+104%), with net profit after tax at €177 million (+102%), and EPS at €0.520, up from €0.266.

• All industrial segments contributed positively, with strong gains in aluminium, cables, and steel pipes, and a recovery in steel.

• Strong performance achieved despite challenging global conditions, including energy cost volatility, trade disruptions, and subdued European steel demand.

Financial highlights

• Revenue: €3.7 billion (+14% year-over-year).

• Adjusted EBITDA: €378 million (+39% year-over-year).

• Profit before tax: €229 million (+104% year-over-year); net profit: €177 million (+102% year-over-year).

• Net debt: €1,708 million, with net debt/EBITDA at 2.4x.

• Capital expenditure: €190 million, focused on capacity expansion and operational improvements.

Outlook and guidance

• Positive outlook for H2 2025, leveraging strong market position, robust order backlogs in cables and steel pipes, and alignment with global megatrends.

• Continued demand growth expected in aluminium and copper, with steel segment to benefit from Greek construction and potential policy changes.

• Real estate division to focus on asset transformation and selective investments in sustainable properties.