Commentary on Financial Results for the First Half of Fiscal Year 2025

The Societe Anonyme (public limited Company) under the name "MEVACO METALLOURGIKI SA" announced on the 29^th of September 2025 the financial results for the first (A') half of the current fiscal year 2025 (01.01.2025 - 30.06.2025).   

The Company's turnover during the reporting period amounted to €49,222.74 thousand compared to €16,018.27 thousand in the corresponding period (First Half of 2024), showing a remarkable increase of 207.3%. This increase is mainly due to the significant strengthening of demand, including the execution of pending orders, both in Greece and abroad.

The Company's gross profits amounted to €15,668.81 thousand compared to €3,654.96 thousand in the corresponding period (first half of 2024), showing an increase of 328.7%. This growth was primarily driven by a significant increase in turnover, as well as the vertical integration and standardisation of the production process, and the more rational management of production costs.

Earnings before interest, taxes, depreciation and amortisation (EBITDA) amounted to profits of €10,212.83 thousand, compared to €1,944.45 thousand in the same period of the previous year, marking a significant increase of 425.2%. The change is mainly attributable to the rise in turnover, as well as the more efficient management of production costs and overall organisational and operational expenses.

The Company's pre-tax results amounted to profits of €9,604.26 thousand, compared to profits of €1,389.75 thousand in the corresponding period (First Half of 2024), showing a remarkable improvement of 591.1%. This increase was primarily due to a rise in turnover, as well as an improvement in the gross profit margin. 

Net profit after taxes amounted to €7,428.62 thousand, compared to €1,028.70 thousand in the corresponding period of the previous year (first half of 2024), showing a significant improvement of 622.1%, also attributable to the reasons mentioned above.  

During the first half of 2025, the Company's Management, consistently implementing the investment plan it has drawn up and utilising its diverse production capacity, the excellence of its production facilities and the flexibility and adaptability of its business model, managed to achieve the above notable financial results, taking advantage of increased demand,  thus further consolidating its growth trajectory and strengthening its export-oriented and specialised orientation.

The growth rate presented during the reporting period (the first half of 2025) is similar to that of the second half of the previous fiscal year. Based on the data available to date, it is estimated that the intensity and growth rate are not expected to follow the same level and pace of increase as those of the first half. Despite this relative slowdown, the overall results for the fiscal year 2025 are expected to improve compared to those of the previous year (2024).

The Company's strategy will continue to focus on implementing a cautiously aggressive policy through the pursuit of new profitable business fields and penetration into new sectors, guided by the undertaking and successful execution of projects of significant complexity, high-quality standards, and technical requirements, while leveraging its considerable production capabilities.

Aspropyrgos, September 30, 2025
MEVACO S.A.