Viohalco (VIO) H1 2026 earnings summary

Executive summary

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

• Adjusted EBITDA increased 18% to €446 million, with profitability improving in nearly all business lines.

• Profit before tax surged 62% to €370 million, reflecting operational improvements and positive metal price effects.

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

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

Financial highlights

• Gross profit increased to €631 million from €453 million in H1 2025.

• Operating income (EBIT) rose to €454 million from €304 million year-over-year.

• Net income attributable to owners reached €219 million, up from €135 million.

• Basic and diluted EPS increased to €0.844 from €0.520.

• Net debt/adjusted EBITDA improved to 1.9x from 2.4x in H1 2025.

Outlook and guidance

• Management expects continued growth, supported by a diversified business model and disciplined investment.

• Aluminium segment outlook remains positive, with ongoing investments to expand capacity and meet robust demand.

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

• Cables segment benefits from a record order backlog and expects further growth from ongoing projects and new plant construction.

• Steel pipes and steel segments expect stable or improving demand, aided by regulatory support and strategic investments.

• Real estate segment to focus on unlocking value from development pipeline and selective acquisitions.