The aluminum and copper group ELVALHALCOR has shown significant annual growth throughout 2022. Last year, compared to 2021, turnover increased by 28.8%, to 3.7 billion euros, while sales increased by 5.2%, and the group took advantage of strong demand mainly in areas where it systematically invests, and shows significant growth due to global sustainability trends. . These include the packaging and transport of food and beverages. On an annual basis, 2022 adjusted earnings before interest, taxes, depreciation and amortization (a-Ebitda) increased significantly by 62.6% to €271.2 million, driven by improved refining prices and higher sales volumes. Profit after tax increased by 42.3% and amounted to about 162 million euros.

Across sectors, aluminum continued its upward trajectory last year compared to 2021, recording a new turnover growth of 43.8% to 1.9 billion euros. The performance of the sector was significantly impacted by an 8.2% increase in sales compared to 2021. The sector has responded to strong demand for its products by utilizing the increased capacity of a new cold rolling mill that went into production in the second half.

The sector’s pre-tax profit was €172 million, compared to €56.2 million in the corresponding period of 2021, and a-Ebitda was €205 million in 2022, compared to €108 million in 2021. The second stage of investments The program, which will further increase the production capacity of the plant, is rapidly being completed. In particular, the new cold rolling mill has already been put into operation, and the painting line is at the final stage of trial operation. New investments during the year amounted to 160 million euros in fixed equipment, of which about 140 million euros came from the company’s aluminum rolling plant in Oinophyta. This investment includes the acquisition of real estate, which in the long term will be used as a logistics center for the storage and distribution of the company’s products. The sector under review, due to the war in Ukraine, recorded an impairment of EUR 2.4 million for the period due to revised forecasts for ETEM’s commercial subsidiaries.

For copper in 2022, compared to 2021, turnover increased by 20% to EUR 1.8 billion, partly due to higher prices in international markets, but mainly due to higher processing prices, which covered the corresponding increase in production costs. Sales volumes were slightly down 0.5% year-on-year due to lower sales of copper pipes and copper alloy profiles in the second half of the year.

Finally, 12.1 million euros were invested, of which 7.3 million euros were related to investments in the production capacities of the company’s copper and alloy extrusion sector, and the amount of 3.5 million euros was spent on the Sofia Med subsidiary.