Viohalco (VIO) H1 2026 earnings summary

Executive summary

• Revenue rose 14% year-over-year to €4.3 billion in H1 2026, driven by higher volumes and increased metal prices across all segments.

• Adjusted EBITDA increased 18% to €446 million, reflecting broad-based operational improvements and profitability gains in nearly all business lines.

• Profit before tax surged 62% to €370 million, supported by strong operational performance and positive metal accounting results.

• Leverage improved to 1.9x from 2.4x in H1 2025, with net debt stable at €1.5 billion.

• Capex increased 24% to €237 million, supporting future growth initiatives.

Financial highlights

• Revenue: €4,256.5 million (H1 2026) vs. €3,721.6 million (H1 2025).

• Gross profit: €631.4 million, up from €453.5 million year-over-year.

• Operating result (EBIT): €454.2 million, up from €304.1 million.

• Net profit: €285.8 million, up from €176.8 million.

• Earnings per share: €0.844 (H1 2026) vs. €0.520 (H1 2025).

Outlook and guidance

• Favourable outlook across all segments, supported by structural demand, capacity expansion, and strong order backlogs.

• Aluminium: Positive outlook with robust demand and ongoing investments to expand capacity.

• Copper: Continued strong demand from energy infrastructure and data centers, with metal price volatility as a key risk.

• Cables: Favourable outlook with record order backlog and focus on project execution and capacity expansion.

• Steel pipes and steel: Demand supported by energy infrastructure, CCS projects, and regulatory measures.

• Real estate: Strategy to unlock value from development pipeline and pursue selective acquisitions.