Viohalco S.A. — Earnings Release 2025

Mar 3, 2026

VIOHALCO

REGULATED INFORMATION

INSIDE INFORMATION

PRESS RELEASE

Brussels, March 3, 2026-5:40pm CET

The enclosed information constitutes regulated information as defined in the Royal Decree of 14 November 2007 regarding the duties of issuers of financial instruments which have been admitted for trading on a regulated market.

Viohalco’s subsidiary, ElvalHalcor, today submits its financial results for the year ended 31 December 2025 to the Athens Stock Exchange

Sustained strong performance leads to further liquidity improvement.

Financial highlights

• Resilient operational profitability (a-EBITDA) at EUR 236.0 million, compared to EUR 237.5 million in 12M'24.
• Decrease in net debt by EUR 38.1 million vs 31.12.2024.
• Net financial costs fell by 20.0%, or EUR 9.0 million, compared to the prior year.

Operational highlights

• Sales volume increased by 2.6% year-on-year, driven primarily by the aluminium segment, despite market instability resulting from the imposition of tariffs, rising metal prices and elevated energy costs.

Overview

After a strong first half compared to a weaker one in 2024, the second half of 2025 was impacted by the imposition of duties on U.S. imports of aluminium and copper products, disruptions in scrap markets, persistently high energy prices, and overall inflationary costs. These factors led to a weaker second half, particularly in the copper segment. Full-year profitability remained at the same level as in 2024.

Consolidated revenue for 2025 amounted to EUR 3,614.5 million, representing an increase of 5.1% compared to EUR 3,438.5 million in 12M'24, primarily driven by higher sales volume and increased LME prices. Consolidated adjusted earnings before interest, taxes, depreciation and amortisation, metal result, and other exceptional items (a-EBITDA), which more accurately reflect the Group's underlying operational profitability, decreased slightly by 0.6% to EUR 236.0 million in 12M'25, compared to EUR 237.5 million in 12M'24. Higher energy costs, an unfavourable sales mix, and constraints in raw material availability negatively impacted the Group's profitability. Accounting metal results amounted to profits of EUR 5.7 million, slightly lower than the profits of EUR 6.2 million in the corresponding prior year period. As a result of the above, consolidated earnings before interest, taxes, depreciation and amortisation (EBITDA) stood at EUR 226.1 million, compared to EUR 242.7 million in 12M'24.

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LME metal prices recorded a notable increase during the first quarter of the fiscal year, followed by a de-escalation in late March and a rapid rise in December following renewed optimism. Furthermore, the average price of aluminium stood at EUR 2,333/tn in 12M'25, compared to EUR 2,236/tn in 12M'24, i.e. higher by 4.3%. The average price of copper was EUR 8,801/tn versus EUR 8,454/tn in the respective prior year period, an increase of 4.1%, while the average price of zinc was EUR 2,543/tn in 12M'25 versus EUR 2,569 /tn in 12M'24, a decrease of 1.0%.

Resilient profitability and targeted capital expenditure led to a significant year-on-year reduction in the Group's net debt by EUR 38.1 million. This improvement, together with the favourable impact of lower interest rates, contributed to a 20.0% decrease in net financial result, which amounted to EUR 35.9 million for 12M'25, compared to EUR 44.9 million for 12M'24. Total debt stood at EUR 659.2 million, compared to EUR 723.1 million as at 31 December 2024, while net debt decreased to EUR 605.3 million from EUR 643.5 million over the same period. While working capital management remains a key priority for both segments, rising LME prices and current challenges in the raw material market have led to higher working capital levels.

Finally, consolidated profits after tax stood at EUR 109.5 million in 12M'25, on the same level as in 12M'24, and consolidated profit after tax and non-controlling interest amounted to EUR 103.4 million in 12M'25 (or EUR 0.2761 per share), compared to EUR 103.2 million in the respective period of the prior year (or EUR 0.2752 per share).

During the year, the Company distributed a dividend of EUR 33.8 million, representing a 125% increase compared to 2024. The reduction in net debt and the Group's solid profitability enable the Board of Directors to propose a dividend of EUR 0.11 per share in 2026.

Key financial figures

Amounts in €' 000	Group
	12M'25	12M'24
Sales	3,614,517	3,438,452
Gross profit	286,660	283,893
EBITDA	226,057	242,675
a-EBITDA*	236,040	237,463
EBIT	156,811	176,595
a-EBIT**	166,794	171,382
Net financial result	(35,974)	(44,974)
Profit before tax	124,702	125,997
Profit after tax	109,546	109,542
Profit after tax & non-controlling interests	103,437	103,209
Earnings per share***	0.2761	0.2752
Net Debt	605,348	643,435

• a - EBITDA = EBITDA plus adjustments for + Losses / - Gains for metal result, + Losses from fixed assets write offs, + Losses / - Gains from sale of fixed assets, + / - Other exceptional items
  ** a-EBIT= a-EBITDA - Depreciation
  *** Earnings per share are calculated by dividing the profits after taxes attributable to the parent company's common shareholders by the weighted average number of common shares, excluding the average number of treasury shares held by the Group.

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ElvalHalcor's full results announcement in English is available on its corporate website www.elvalhalcor.com

About Viohalco

Viohalco is the Belgium based holding company of leading metal processing companies in Europe. It is listed on Euronext Brussels (VIO) and the Athens Stock Exchange (BIO). Viohalco's subsidiaries specialise in the manufacture of aluminium, copper, cables, steel and steel pipes products, and are committed to the sustainable development of quality, innovative and value-added products and solutions for a dynamic global client base. With production facilities in Greece, Bulgaria, Romania, the United Kingdom and North Macedonia and participations in companies with production facilities in Turkey and the Netherlands, Viohalco companies generate a consolidated annual revenue of EUR 6.6 billion (2024). Viohalco's portfolio also includes an R&D and technology segment. In addition, Viohalco and its companies own real estate investment properties, mainly in Greece, which generate additional value through their commercial development.

For more information, please visit our website at www.viohalco.com.