ElvalHalcor reports increased sales in the third quarter of 2022
Adjusted a-EBITDA rose by 76.9%, reaching €230.7million versus €130.4million for the respective priorperiod.
Despite the economic challenges in combination with the increased interest rates and inflationary pressures in most segments of the economy, during Q3’22, the Group continued its upward trend, recording an increase of sales by 38,2%, reaching €2,877 million for 9M’22 compared to €2,082 million for the respective period of 2021.
EvalHalcor reported increased sales attributable to increased sales volume, mainly
in the aluminium segment, and highermetal as well as improved conversion prices.
LME metal prices following their peakin Q1’22, moved downwards then stabilisedin Q3’22.The average
price of aluminium reached €2,649/tn (32.2% higher versus 9M’21) and the average price of copper
reached €8,492/tn (increased by 10.6% compared to 9M’21).
Sales volumegrew by 7.8%, as the Group
took advantage of strong demand,especially in segments with high growth due to global sustainability
megatrends, in which the Group has focused its investments on, i.e. the rigid aluminium packaging
Adjusted consolidated earnings before taxes, interest, depreciation and amortisation, metal result, and other incidental costs (a-EBITDA), which better reflect the operational profitability of the Company, rose by 76.9%, reaching €230.7million versus €130.4million for the respective priorperiod, driven by the improved conversion prices and the aforementioned increase in sales volume.
Gross profit amounted to €308.0million compared to €187.4million in 9M’21,while consolidated
earnings before interest, taxes, depreciation & amortisation (EBITDA) amounted to €294.7 million
compared to €175.7 million in the prior period. The above figures were positively affected by the
accounting metal result, which reached €64.5million for 9M’22versus €49.9million for 9M’21.