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 from EUR 6.30 billion in 2023, and strong growth across most segments.

• Adjusted EBITDA increased by 12.5% to EUR 604 million, driven by operational improvements and segment diversification.

• Profit before tax surged to EUR 274 million from EUR 91 million in 2023, nearly tripling year-over-year.

• 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 for 2024.

Financial highlights

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

• Profit before tax: EUR 274 million (2023: EUR 91 million); net profit: EUR 161 million (2023: EUR 48 million).

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

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

• Earnings per share at EUR 0.62.

Outlook and guidance

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

• Copper segment to grow through process optimization and capacity expansion.

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

• Greek construction sector remains strong; gradual recovery expected in European steel demand in 2025.

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