ELVALHALCOR HELLENIC COPPER AND ALUMINIUM INDUSTRY S.A.
Presentation of HALCOR to the ASSOCIATION OF GREEK INSTITUTIONAL INVESTORS
Today, as of Friday, 20 April 2007, within the framework of the regular annual briefing of HALCOR to the ASSOCIATION OF GREEK INSTITUTIONAL INVESTORS, the Company''s FY 2006 financial results were presented, along with its general strategic policy and prospects for the following years.
More specifically, the company''s representatives noted that HALCOR has increased its consolidated turnover to EUR 1,247 million against EUR 712 million in 2005, which is an increase of 75%. This increase is attributed both to the rise of the metal prices and the 14% increase in the sales volume of main products of the Group. The earnings after taxes and minority rights amounted to EUR 36 million against EUR 3.5 million in 2005, while earnings before interest, taxes, depreciation and amortization (E.B.I.T.D.A.) amounted to EUR 95 million over EUR 48 million in 2005, marking an increase of 930% and 100% respectively.
In line with last year''s announcements, 2006 was a milestone for the HALCOR Group, as investments in subsidiaries in Bulgaria and Romania started to generate profits, a fact reflected in the financial year results. More specifically, from the year 2000 onwards, the company invested EUR 85 million in mechanical equipment for the Sofia Med SA production plant of copper and brass rolling products (Bulgaria) and EUR 30 million in the cable production plant of Icme Ecab SA (Romania). In combination with the investments for the modernization of the production plants in Greece, both of the parent company, as well as of the subsidiary, HELLENIC CABLES S.A., of a total amount of EUR 115 million, from 2000 up to present, the cumulative investments reach the amount of EUR 230 million. This important investment programme aimed at the increase of the Group''s production capacity, with special emphasis on copper rolling products -and its alloys- and cable products, at the maintenance of the competitive advantage in the production cost and at the increase of the production of high added value specialized products.
During the presentation, reference was made to the HALCOR Group structure and its dynamic production base, consisting of eight main industrial complexes at Inofita (Foundry, Tube, Brass Bars and Tubes plants), in Athens (Titanium Zinc Rolling Plant), in Thiva and Levadia (HELLENIC CABLES SA), in Sofia, Bulgaria (SOFIA MED SA) and in Bucharest, Romania (ICME ECAB SA). Furthermore, the Group s products as well as the extensive sales network in Greece and abroad were described.
Finally, the company''s representatives addressed the Group s satisfactory course during the first quarter of 2007.
Note: The presentation has been posted to the company s website: www.halcor.gr and to the Athens Stock Exchange website: www.ase.gr
More specifically, the company''s representatives noted that HALCOR has increased its consolidated turnover to EUR 1,247 million against EUR 712 million in 2005, which is an increase of 75%. This increase is attributed both to the rise of the metal prices and the 14% increase in the sales volume of main products of the Group. The earnings after taxes and minority rights amounted to EUR 36 million against EUR 3.5 million in 2005, while earnings before interest, taxes, depreciation and amortization (E.B.I.T.D.A.) amounted to EUR 95 million over EUR 48 million in 2005, marking an increase of 930% and 100% respectively.
In line with last year''s announcements, 2006 was a milestone for the HALCOR Group, as investments in subsidiaries in Bulgaria and Romania started to generate profits, a fact reflected in the financial year results. More specifically, from the year 2000 onwards, the company invested EUR 85 million in mechanical equipment for the Sofia Med SA production plant of copper and brass rolling products (Bulgaria) and EUR 30 million in the cable production plant of Icme Ecab SA (Romania). In combination with the investments for the modernization of the production plants in Greece, both of the parent company, as well as of the subsidiary, HELLENIC CABLES S.A., of a total amount of EUR 115 million, from 2000 up to present, the cumulative investments reach the amount of EUR 230 million. This important investment programme aimed at the increase of the Group''s production capacity, with special emphasis on copper rolling products -and its alloys- and cable products, at the maintenance of the competitive advantage in the production cost and at the increase of the production of high added value specialized products.
During the presentation, reference was made to the HALCOR Group structure and its dynamic production base, consisting of eight main industrial complexes at Inofita (Foundry, Tube, Brass Bars and Tubes plants), in Athens (Titanium Zinc Rolling Plant), in Thiva and Levadia (HELLENIC CABLES SA), in Sofia, Bulgaria (SOFIA MED SA) and in Bucharest, Romania (ICME ECAB SA). Furthermore, the Group s products as well as the extensive sales network in Greece and abroad were described.
Finally, the company''s representatives addressed the Group s satisfactory course during the first quarter of 2007.
Note: The presentation has been posted to the company s website: www.halcor.gr and to the Athens Stock Exchange website: www.ase.gr