ElvalHalcor is focusing on achieving the maximum return on the investments it has made so far to strengthen its production in 2024.
Meanwhile, the management will propose the distribution of a dividend of 0.04 euros/share to the general meeting of shareholders.
Despite market uncertainty, the company has recently seen a slight recovery in aluminum and copper. Also, despite the current sluggish demand, analysts see an improvement ahead of the reduction in interest rates, while the mega market trends in copper and aluminum products remain strong.
The management of ElvalHalcor emphasized during the briefing to institutional investors that the company is focusing on the mega-trends of the market and its strengths for EBITDA growth, noting that there is a possibility of improvement in a-EBITDA per ton of aluminum, which in 2023 was set at 372 euro/ton, compared to 523 euro/ton in 2022 and 299 euro/ton in 2021. In the copper sector, a-EBITDA per ton stood at 547 euro/ton in 2023 compared to 349 euro/ton in 2022 and 307 euro/ton in 2021.
Regarding the aluminum sector, the increase in installed capacity amounts to 26% and in the copper sector it is estimated to be much higher after the investments made in the production facilities, including its subsidiary Sofia Med, which played a catalytic role in the rise of copper sector performance in 2023.
The company focuses on leveraging business excellence in order to optimize the production process and capacity but also to diversify its product range towards the development of a more profitable and promising portfolio in the context of the global mega-trends of the circular economy and sustainable development.
Lower net borrowing
Net borrowing decreased by 142.2 million euros and the goal is to decrease even further in 2024, while 82% of borrowing is long-term.
It is also worth noting that 94% of ElvalHalcor’s sales are exports.
