Presentation of Elval to the Hellenic fund and asset management association

Elval Group’s annual ordinary briefing to the Hellenic Fund and Asset Management Association took place today, Tuesday, May 5, 2015. During the briefing Elval Group shortly presented its progress, production facilities, products and financial results for Financial Year 2014.

Elval Group since the beginning of its activity on 1973, with constant investments, achieved to operate today a number of modern industrial facilities in Greece, United Kingdom and Bulgaria, marking acontinuous increase of their production capacity, which today exceeds 350 thousand tons per year. The Group’s rolling and extrusion products, offer solutions in food and beverage packaging, car industry, shipbuilding, constructions, lithography, industrial applications etc.

Throughout an international network of commercial enterprises, the Group realizes 90% of its turnover in international markets, mainly in the European Union and the USA, selling in more than 90 countries.

During 2014, consolidated sales volume increased by 6.2% and amounted 350.9 thousands tones, leading to a turnover of €1,060 million, enhanced by 5.1% compared to Financial Year 2013, with consolidated EBITDA rising by 6.5% to €79.0 million compared to €74.2 million during the previous year and earnings before taxes forming to €18.6 million compared to €15.5 million in 2013. Finally earnings after taxes and non-controlling interests marked a considerable increase to €17 million from €365 thousands.

The rolling sector, despite some pressure imposed on prices, retained its profitability, because of the enhanced volume and the improvement in costing. On the contrary, the extrusion sector remained loss making, with operating losses amounting to €15.2 million.

During 2014 positive operating cash flow of €23.3 million was chieved, while the outflows for the investments in the Oinofyta and UK plants reached €61.5 million. Additionally, reserves of €9.9 million were distributed to shareholders (0.08 euro per share).

Extensive investment programs are being executed during the current year 2015 as well, aiming at the enhancement of the capacity of all industrial units, the production of improved products for specialized solutions and the reduction of production cost, while the perspectives of sales volume are positive for the exploitation of the Group’s plants capacity.

Apart from investments in production, there are continuous efforts for restructuring in Group level, with the goal of providing complete solutions to the clientele, especially in the sector of architectural applications. Within this context, after the absorption of Etem the focus is placed upon the enhancement of the extrusion sector, in order to be stabilized and recover.