Viohalco (VIO) H2 2024 earnings summary

Executive summary

• 2024 marked the second-best year in company history, with consolidated revenue rising to EUR 6.63 billion, up 5.2% year-over-year, and adjusted EBITDA increasing 12.5% to EUR 604 million, driven by broad-based growth and operational improvements.

• Profit before tax surged 199.6% to EUR 274 million, nearly tripling from 2023, aided by stabilized metal prices and lower financial expenses.

• Net profit attributable to owners reached EUR 161 million, with EPS at EUR 0.62, compared to EUR 48 million and EUR 0.19 in 2023.

• Net debt decreased by 19.2% to EUR 1,513 million, reflecting effective working capital management and capital market activities.

• Board proposed a EUR 0.16 dividend per share, totaling close to EUR 42 million.

Financial highlights

• Revenue: EUR 6.63 billion (+5% YoY); adjusted EBITDA: EUR 604 million (+12.5% YoY).

• Profit before tax: EUR 274 million (up from EUR 91 million in 2023); net profit: EUR 161 million.

• CapEx: EUR 434 million, mainly in cables, aluminium, and real estate.

• Net debt: EUR 1,513 million, down 19.2% from 2023.

• Earnings per share at EUR 0.62.

Outlook and guidance

• Aluminium segment expected to benefit from demand for recyclable, energy-efficient products and electric vehicles.

• Copper segment to see growth from process optimization and capacity expansion for high-value products.

• Cables and steel pipes set for further momentum from electrification, renewables, and grid expansions.

• Greek construction sector remains strong; European steel demand expected to recover gradually in 2025.

• Real estate division to focus on new developments and upgrades to meet demand for sustainable buildings.