ELVAL HOLDINGS S.A.
PRESENTATION OF ELVAL TO THE ASSOCIATION OF GREEK INSTITUTIONAL INVESTORS
In the context of the annual regular briefing of ELVAL to the Association of Greek Institutional Investors, ELVAL Group was presented thereto this day, Wednesday, April 6, 2011. During the presentation, an overview of the performance, production facilities and products was given and was followed by an analysis of the results of 2010 and developments during the first quarter of the current year.
During 2010, the rolling sector was strengthened in international markets both for ELVAL and its subsidiary BRIDGNORTH ALUMINIUM in England. On the contrary, the extrusion sector remained at low levels, at least in the Greek market, and restricted considerably the Group's profitability.
Most international markets registered higher levels of performance both in terms of demand and prices as for rolling products while the company acquired new customers. The increased demand was met by fully utilizing the new production capacity at which the facilities at Inofita operate following completion of the greatest part of the investment plan, with the result of the sales volume registering a 25% and 18.5% increase for the Company and the Group respectively.
Under these circumstances, the consolidated turnover of ELVAL registered a 34.8% increase, rising from €690 million in 2009 to €930 million. In addition, on a consolidated basis, gross profit rose to €77 million from €51.5 million; earnings before interest, taxes, depreciation and amortization (EBITDA) rose to €68.4 million, being increased by 57.2%, and finally earnings after taxes and minority interests stood at €8.5 million compared to losses of €6.4 million in 2009 (earnings per share: €0.0687 compared to losses of €0.052 per share). Accordingly, at company level, the turnover stood at €597 million, registering a 46.3% increase; gross profit amounted to €23 million compared to €8.9 million; earnings before interest, taxes, depreciation and amortization (EBITDA) increased by 76.1% coming to €36.4 million from €20.7 million in 2009, while profits after tax stood at €9.5 million compared to losses of €2.4 million in 2009.
During 2011, it is expected that the international momentum in the rolling sector and the export-related nature of the Group, in conjunction with its orientation toward the manufacturing of high added value products will continue to have a positive effect on its financials.
Note: The presentation has been uploaded on the Company's website: www.elval.gr and the website of Athens Stock Exchange: www.athex.gr.
During 2010, the rolling sector was strengthened in international markets both for ELVAL and its subsidiary BRIDGNORTH ALUMINIUM in England. On the contrary, the extrusion sector remained at low levels, at least in the Greek market, and restricted considerably the Group's profitability.
Most international markets registered higher levels of performance both in terms of demand and prices as for rolling products while the company acquired new customers. The increased demand was met by fully utilizing the new production capacity at which the facilities at Inofita operate following completion of the greatest part of the investment plan, with the result of the sales volume registering a 25% and 18.5% increase for the Company and the Group respectively.
Under these circumstances, the consolidated turnover of ELVAL registered a 34.8% increase, rising from €690 million in 2009 to €930 million. In addition, on a consolidated basis, gross profit rose to €77 million from €51.5 million; earnings before interest, taxes, depreciation and amortization (EBITDA) rose to €68.4 million, being increased by 57.2%, and finally earnings after taxes and minority interests stood at €8.5 million compared to losses of €6.4 million in 2009 (earnings per share: €0.0687 compared to losses of €0.052 per share). Accordingly, at company level, the turnover stood at €597 million, registering a 46.3% increase; gross profit amounted to €23 million compared to €8.9 million; earnings before interest, taxes, depreciation and amortization (EBITDA) increased by 76.1% coming to €36.4 million from €20.7 million in 2009, while profits after tax stood at €9.5 million compared to losses of €2.4 million in 2009.
During 2011, it is expected that the international momentum in the rolling sector and the export-related nature of the Group, in conjunction with its orientation toward the manufacturing of high added value products will continue to have a positive effect on its financials.
Note: The presentation has been uploaded on the Company's website: www.elval.gr and the website of Athens Stock Exchange: www.athex.gr.