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Viohalco S.A. — Earnings Release 2015
Mar 15, 2016
4023_iss_2016-03-15_547cf67a-4b83-4cd3-899a-c23b1c6705f7.pdf
Earnings Release
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PRESS RELEASE OF VIOHALCO SA
Brussels, March 15, 2016
The enclosed information constitutes regulated information as defined in the Law of 2 August 2002 and the Royal Decree of 14 November 2007 on the obligations of issuers of financial instruments admitted to trading on a regulated market.
Viohalco's subsidiary, Halcor SA, issues fiscal year 2015 results to the Athens Exchange
Highlights
Copper
In 2015, Halcor revenue increased by 14% to EUR 1,230.1 million from EUR 1,079.9 million in 2014. During the period, the loss attributable to owners of the Company narrowed to EUR 32.5 million (EUR 0.3210 per share) from a loss of EUR 51.2 million in 2014 (EUR 0.5059 per share) the previous year. This improvement was achieved despite a decline in the price of copper, which negatively affected Halcor's results by EUR 20.5 million. In 2014, the comparative figure was EUR 11 million.
For Halcor Group. the results recovery is largely attributed to increased sales volume by 9.6%, improved product mix and to the improvements in the profitability of both the parent company Halcor and its subsidiary, Hellenic Cables. Regarding, Hellenic Cables for the first time after continuous investments in subsidiary Fulgor, it operated all production units, as the execution of all contracts regarding submarine cables carried on normally. The decline of the Euro versus both the US Dollar and the GBP had a positive effect on the Group's competitive advantage and the profitability of exports to the UK, the United States and other USD denominated trading countries. In addition, low oil prices, while partly offset by the strong USD rate, positively affected production and transportation costs.
The table below provides a summary income statement for the fiscal year ended December 31, 2015:
| Amounts in EUR thousand | Halcor | |
|---|---|---|
| FY 2015 | FY 2014 | |
| Revenue | 1,230,103 | 1,079,873 |
| Gross profit | 55,745 | 29,932 |
| EBITDA (adj. due to revaluation of fixed assets) |
51,589 | 18,219 |
| EBIT (adj. due to revaluation of fixed assets) | 19,527 | (5,313) |
| Profit / (loss) before income tax | (29,818) | (73,009) |
| Profit / (loss) of the period | (32,827) | (59,470) |
| Profit / (loss) attributable to owners of the Company |
(32,509) | (51,235) |
Viohalco consolidated financial information for the fiscal year 2015 will be published on March 31, 2016.
Full results announcements and financial statements in English for each of the Viohalco subsidiaries are available on their respective websites. Links to these can be found at www.viohalco.com.
About Viohalco
Viohalco is the holding company of various metal processing companies in Europe, based in Belgium. With production facilities in Greece, Bulgaria, Romania, Russia, FYROM and the United Kingdom, Viohalco's subsidiaries specialise in the manufacture of aluminium, copper and cables, and steel and steel pipes products, generating annual revenue of EUR 2.9 billion. In addition, Viohalco and its companies own substantial real estate properties in Greece and have redeveloped some of its properties as real estate development projects. For more information about our company, please visit our website at www.viohalco.com.