The group showed resilience during the first quarter of this year. aluminum And copper ELVALHALKOR, despite the uncertainty in the European and global economy, as noted by his administration. In particular, on an annualized basis, in the first three months of the year and at a consolidated level, ELVALHALKOR showed a decrease in sales by 1.2% with a growth in turnover by 0.8%, to 930.5 million euros. Metal prices declined in the first quarter compared to the same period in 2022, showing a slight decline compared to last year.

The average aluminum price was €2,232/t in the first quarter compared to €2,927/t a year earlier (-23.7%). Also, the average price of copper was 8,322 euros per ton compared to 8,924 euros in the first quarter of 2022 (-6.7%), and the average price of zinc was 2,915 euros per ton compared to 3,299 euros in the corresponding period of 2022 (-6.7%). 11.6%.

Adjusted consolidated earnings before taxes, interest, depreciation, metalworking and other extraordinary expenses (a-Ebitda), which better reflects the company’s organic and cash earnings, decreased by 5.9% to €70.3 million in the first quarter of 2023 on an annual basis. calculus. basis, which was affected by the increase in machining costs. However, adjusted EBITDA is much higher than in the first quarter of 2021, when it was around 42 million euros).

The group’s net borrowings decreased by 60.2 million euros compared to the first quarter of 2022.

In addition, consolidated earnings before taxes, interest and amortization (Ebitda) decreased to EUR 56.1 million from EUR 102.1 million due to the negative impact of the accounting results for metals, which corresponded to a loss of EUR 14.3 million. Group net borrowing decreased by €60.2 million compared to the first quarter of 2022 as a result of ELVALHALCOR’s strong operating profitability and declining metal prices. Profit after taxes fell in the first quarter of this year annually by 70% to 19.7 million euros, while equity stands at 984.5 million euros.

In terms of sectoral performance, aluminum sales volumes increased by 2.8% in the first quarter compared to the same period last year, while turnover remained stable at 443 million euros. Adjusted Ebitda was €39m vs €53.2m but up significantly compared to Q1 2021 (€25.8m).

In the copper sector, turnover increased by 1.4% to 487.5 million euros, while sales decreased by 8.6% due to lower demand in the construction sector. Due to a change in product mix and higher machining prices, Adjusted EBITDA increased by 45% to €31.2 million in the first quarter compared to last year. In two sectors (copper and aluminum), the total investment amounted to 28.5 million euros.