Viohalco (VIO) H2 2024 earnings summary

Executive summary

• 2024 was the second-best year in company history, with consolidated revenue rising to EUR 6.63 billion, up 5% year-over-year, and adjusted EBITDA increasing 12.5% to EUR 604 million, reflecting broad-based growth and significant profitability improvements.

• Profit before tax surged to EUR 274 million, nearly tripling from 2023, driven by operational improvements and lower financial expenses.

• Net debt decreased by 20% to EUR 1.5 billion, supported by strong cash flow, disciplined capital management, and capital market activities.

• Net profit attributable to owners reached EUR 161 million, with earnings per share at EUR 0.62.

• Board proposed a EUR 0.16 dividend per share, totaling approximately 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 (2023: EUR 91 million).

• Net profit: EUR 161 million (2023: EUR 48 million); Earnings per share at EUR 0.62.

• CapEx reached up to EUR 434 million, mainly driven by investments in cables, aluminium, and real estate.

• Net debt reduced to EUR 1,513 million, with leverage ratio (Net debt/EBITDA) at 2.5, a historical low.

• Proposed gross dividend: EUR 0.16 per share.

Outlook and guidance

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

• Copper segment to grow through process optimization, capacity expansion, and high-value products.

• Cables and steel pipes positioned for growth from electrification, renewables, and grid expansion.

• Greek construction sector remains robust; 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 in Greece.