Viohalco (VIO) H1 2026 earnings summary

Executive summary

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

• a-EBITDA/adjusted EBITDA increased 18% to €446m, reflecting broad-based operational improvements and profitability gains.

• Profit before tax grew 62% to €370m, supported by strong operational performance and positive metal price effects.

• Net debt/EBITDA improved to 1.9x from 2.1x at FY 2025 and 2.4x in H1 2025, indicating enhanced cash generation and balance sheet strength.

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

Financial highlights

• Revenue: €4.3bn (+14% vs H1 2025).

• a-EBITDA/adjusted EBITDA: €446m (+18% vs H1 2025).

• Profit before tax: €370m (+62% vs H1 2025).

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

• Net debt: €1,505m (+1% vs FY 2025), with leverage at 1.9x.

Outlook and guidance

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

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

• Successful €250m equity raise in July 2026 to fund growth initiatives in aluminium and copper.

• Continued focus on productivity, cost discipline, and operational efficiency.

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