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, 2 May 2012. During the presentation, an overview of the performance, production facilities and products was given and was followed by an analysis of the results of 2011 and developments regarding 2012.

During 2011, the Group's sales volume rose by approximately 6% in relation to 2010 and stood at 319,000 tons while the strong demand for rolled products on the part of international markets led to increased selling prices. On the contrary, the extrusion sector remained under pressure, primarily due to the drop in domestic activity. In terms of cost, extraneous factors counterbalanced the efforts to control it. The increased energy cost, increased borrowing cost and impairment for inventories had a negative impact on operating results.

In this context, the consolidated turnover stood at €1,062 million, increased by 14.2%; gross profits amounted to €84.8 million; earnings before interest, taxes, depreciation and amortization to €82.4 million; earnings before tax to €23.1 million and, finally, earnings after taxes and non-controlling interest to €17.4 million compared to €8.5 million in 2010 (earnings per share: €0.140 compared to €0.069 in 2010).

In 2011, the Group's liquidity was considerably improved with consolidated net borrowing standing at €232.7 million, reduced by 17% from €280.8 million in 2010. Investment expenditures stood at €41 million and, following completion of the long investment programs, the Group's production capacity has been enhanced considerably and its further increase is already planned.

In 2012, the Group pursues its efforts to maintain high sales volumes, contain the production cost and bolster its liquidity.

Note: The presentation has been uploaded on the Companys website: www.elval.gr and the website of Athens Stock Exchange: www.athex.gr