Half Year 2024 Elvalhalcor Hellenic Copper and Aluminium Industry SA Earnings Call Transcript
Key Points
- Elvalhalcor SA (ATH:ELHA) achieved a 2.5% increase in sales volume to 297,000 tonnes compared to the same period in 2023.
- The company reported a robust adjusted EBITDA of EUR 114 million, demonstrating strong operational performance.
- Net debt was significantly reduced by EUR 145 million year-on-year, improving the net debt to adjusted EBITDA ratio to 3.3.
- The aluminum segment showed improved profitability per tonne from EUR 204 in the first quarter to EUR 207 in the second quarter.
- Elvalhalcor SA (ATH:ELHA) increased its cash position by EUR 60 million, despite challenging market conditions.
- Revenue decreased by 3.8% to EUR 1.7 billion compared to 2023, influenced by sensitive metal prices.
- The company faced adverse conditions in margins across both aluminum and copper segments.
- Interest rates remained elevated, posing challenges to financial performance.
- Geopolitical tensions and market uncertainties continued to impact demand and profitability.
- Despite improvements, the EBIT was lower than in 2023, highlighting ongoing financial pressures.
Ladies and gentlemen, thank you for standing by. I am Geli, your Chorus Call operator. Welcome, and thank you for joining the ElvalHalcor conference call and live webcast to present and discuss the first half 2024 trading update.
At this time, I would like to turn the conference over to Mr. Angelos Giazitzoglou, Deputy Group Chief Financial Officer. Mr. Giazitzoglou, you may now proceed.
Hello, and thank you for joining us in our webcast for the financial results for the first semester of '24. As always, we will give you another view of our performance. And at the end, we will hold the Q&A session. The presentation will be later uploaded on our website.
Let me start by pointing out some key figures. Beginning with sales, we kept the pace from the first quarter and we achieved an increase by 2.5% to 297,000 tonnes from the respective period of '23. Although nothing has changed significantly in markets, our performance in
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