Viohalco S.A.. Please allow me before moving on to the presentation to congratulate all the financial teams across the group for successfully responding to the challenge of an earlier reporting timeline. There. Professionalism, commitment and collaboration were instrumental in achieving this important milestone for the group. Moving on. Now to the first half performance. I'm pleased to report. Another strong set of results. Consolidated revenue stood at 4.3 billion 14% increase versus prior year increase, which is attributable to both higher volume across all segments and increased metal prices. The operational profitability, the adjusted EBITDA stood at 446,000,018% increase over the previous year, supported by. The higher metal prices and low interest costs. The profits before tax moved to 370 million, 62% increase over the previous year. This profitability also fueled the further improvement of the leverage ratio, which now stands below two times. At 1.9. Regarding the. The five year performance of Viohalco, it's got to be noted that the performance of the group Over the last five years has made significant improvement in all metrics and the compound annual growth rate for the adjusted EBITDA is at 6%. Moving now to the slide for this bridge. It actually connects the past with present meaning. The. Year on year improvement in the area. And who contributed for to that. The cables. Made this largest contribution. Reflecting. Disciplined project. Execution and the favorable product mix. Aluminium. Also. Delivered a strong improvement supported by higher volumes and improved sales mix. The steel business also delivered a further improvement in profitability. As productivity initiatives covered the continued weakness in European steel markets. Steel pipes continue to perform well, benefiting from the successful execution of complex projects. Copper was the only one business where adjusted EBITDA slightly declined, reflecting a continued pressure from cost inflation. And of course, the real estate continue to improve in line with the expectations. All in all, this bridge demonstrates that we are reaping the benefits of our focus in dynamic sectors such as energy transition, electrification, sustainable materials, and that all of our segments perform well in times of global turmoil and supply chain disruptions. Moving on to slide five. CapEx and net debt. During the first half, we continue to invest selectively across our businesses, focusing. On projects that enhance capacity, improve productivity, and further strengthen our higher value added product offering. Expenditure amounted to 237 million, broadly in line with our strategic priorities and reflecting our disciplined approach to capital allocation. At the same time, strong operating performance. Enabled us to further strengthen our balance sheet as. Reflected in our leverage, which has improved significantly as. Earlier mentioned, taking all together, this. Investments continue to strengthen our competitive positioning. While supporting sustainable long term growth. Moving now to specifically per segment analysis, we start with aluminium. The segment delivered another strong performance during the first half. The revenue increased to 2.3 billion, supported, of course by the higher LME aluminium prices. But. At the same time, we faced. Strong demand for the rigid packaging and transportation markets. At EBITDA, operating EBITDA in. Increased by 12% to 109 million, primarily reflecting higher volumes and an improved product mix. Alongside this strong operational performance, we continue to invest in operational improvements that will further strengthen our competitive position. Going forward. And despite the uncertain macroeconomic backdrop, the long term outlook for aluminium business remained favourable. Supported by structural demand for lightweight recycling and increasingly sustainable aluminium solutions. At this point. I should mention the successful completion in July of the 250 million equity raise. This transaction provides us with a financial flexibility to implement its business plan and unlock approximately 455 million of growth investments by 2030. In specific aluminium, the plan includes new. Rolling mill and the new cast house. Which further strengthens the company's competitive position. Now moving on to the copper segment. Revenue increased by 20% to more than 1.1 billion. Primarily due to the higher LME, LME copper price. Prices. And while the volume remained stable. Almost stable. Despite. The slight decline in adjusted EBITDA to 55 million. Profitability remained strong, supported by strong demand for local rolled products and Busbars and. The continued shift toward. Towards higher value added products. During the period, we also continued to selectively invest in further expansion of our high value added product. Production capabilities. While further improving operational efficiencies across the business. Looking ahead, the structural demand outlook remains encouraging, supported by continued investment in energy infrastructure, power networks and data centers. Returning to the recent Viohalco capital increase. The business plan, which is related with copper, includes investments aimed at expanding the capacity of existing facilities. Establishing a new recycling hub at Sofia and. Further, automating production processes. This initiative. Are expected to improve productivity. Increase the. The use of recycled raw materials and. Of course, strengthen the segment's ability to meet growing customer demand efficiently and sustainably. Moving now to the cable segment. Where the revenue increased by 13% to 824 million, reflecting. A continued strong execution across both submarine and cable projects, together with resilient demand across our end markets. These translated into another excellent profitability performance adjusted. EBITDA increased by 35% to 166 million, while EBITDA margin. Climbed to 20%, supported by. Disciplined project execution and favorable product mix. The. First half was also marked by continued commercial success. We secured. A number of significant new contracts in. Our order backlog to a record 3.4 billion. A major contributor. Contributor was the award of the low day of. Egypt work at a agreement for the electrical interconnection of Dodecanese and. North Aegean Islands. With a total value of approximately one point. One. Billion. This landmark award significantly strengthens our long term project visibility reinforces our. Leading position in submarine cable solution and. Affects the confidence of our. Of our customers in our ability to deliver technically demanding energy infrastructure projects. Alongside. This commercial momentum. Our expansion programme continues to progress well. Including. The building of our U.S. production facility. Positioning the business for its next phase of growth. Moving on. To the steel Pipe segments, our. Again, this company. This segment delivered another solid set of results during the first half. Revenue increased by 11% to 309 million. Driven. By higher sales volumes and a versified portfolio of energy infrastructure projects, which supported strong margins. While. While adjusted EBITDA increased to 52 million. Activity remained healthy across international energy infrastructure markets, including natural gas transmission and carbon capture and storage projects. Execution also remained strong across our existing project portfolio, while our investment programme continued with the activation of the Hartlepool facility in the UK, which. Further strengthens our competitive position in our offshore energy infrastructure. The order backlog remained at around 500 million, providing good visibility for the coming 15 months. All these factors leave us well positioned to benefit from the continued investment being made in global energy infrastructure. The still segment. Although. Market conditions across Europe remain challenging, with no activity. During the first half, the business continued to build on. The recovery that began last year. Revenue marginally increased to 559 million, reflecting. Stable sales volumes. Despite continued weakness in several export markets. The real progress, however, came through in profitability. Adjusted EBITDA increased by 14% to 50 million, driven by the. Strong performance of our Greek operations. Together with the substantial recovery of plant. Alongside the operational improvement, we continued investing in profitability, productivity. Downstream operations and product quality across our manufacturing facilities. Key. Project. At. Are. Plant involves and plant. In Bulgaria. Also progressed during the period and will further strengthen our competitiveness over the coming years. While European steel markets remain competitive. The. Outlook is increasingly encouraging, supportive. Regulatory developments. Together with resilient construction activity in Greece and the benefit of our operational Improvement programme provide a stronger foundation for continued progress. Turning now to our real estate division. The business delivered a. Solid performance during the first half. Revenue. For the period doubled to 47 million. Supported by higher rental income. Portfolio portfolio growth of novel property and execution of new major construction projects by. Ergo. Another subsidiary of ours. A key. During the period was the completion and delivery of the renovated Prime Office buildings at Kifisias Avenue in Athens to tenants marking another important step in expanding the portfolio of incoming producing income, producing assets. Demand for modern, energy efficient office space in Greece remained supportive throughout the period. Driving, leasing activity and portfolio performance So looking ahead. Robot property continues to. Unlock value. From its development pipeline. By bringing additional high quality assets into operation. While also evaluating selective acquisition opportunities to further strengthen the portfolio's quality and sustainability. And with that, let me conclude with a few comments on our outlook. And as we look ahead. We remain confident in our long term prospects. While macroeconomic and geopolitical, geopolitical uncertainty remains high, the. Drivers shaping our business remain firmly in place. Electrification. Investment in energy. Infrastructure. The energy transition and growing demand for sustainable materials. Continue to create attractive opportunities across our portfolio. In aluminium and copper Our focus remains remains on. Expanding higher value added production and capturing growth in markets such as transportation, packaging, power networks and data centers. Our Steel pipe businesses, Synergy Holdings remain well positioned to benefit from sustainable investment in electricity and energy infrastructure. Strong order backlogs support future activity. While our ongoing capacity expansion projects will enable us to capture additional growth as demand develops. In steel Segment, we expect the gradual recovery to continue. Supported by an improving regulatory environment. Resilient construction activity in Greece and. The continued benefits of our investment programme. At the same time, real estate remains focused on converting its developing pipeline into income. In producing assets. Income producing assets while selectively enhancing the portfolio. Through targeted investment opportunities. All in all, our strategic priorities remain unchanged by. Continue to invest selectively and. Has operational performance and expand our higher value added product offering We believe the group is well positioned to create sustainable, long term value for its shareholders Thank you very much for the attention and that will be very happy to take your positions. If there are no. Questions. Allow me to say a big thank you for participating. Okay. So. I understand there are no questions. We haven't received any even in the in the chat. Oh excuse me, there are some. Please. Have you please tell us the intro and its effect in steel prices. Okay. Very good question. Thank you. Theodore. Yes, as we said previously, all these measures that are taken by the European Commission. In order to protect the the local steelmakers., support a lot the increase of prices. This is actually what I mentioned during my presentation here. The sebum is one of these. It creates a. A Schaefer. If I can call it that environment for the local players while it creates an extra cost for the. For the products coming from outside Europe. It provides an extra cost that goes beyond 60 to €70 per tonne. As an average. So this. Along with other measures that we actually. Are expect., create a better future for the steel for the steel segment. So regarding. Again, Theodore, thank you for the question. There is a question regarding the. The amounts of maintenance CapEx of each of the segments You know, the main CapEx is always necessary in order to keep the plants., this level of operation. So it is not it doesn't change significantly over the years. So now it is close to the amount of depreciation. This is the amount that we always used in order to benchmark ourselves. We have a depreciation annual depreciation close to 130 150 million per year. You can assume this amount as a maintenance CapEx for the for the. Whole group and of course, for the for the future. Okay. I think. Okay. So. With that,. Allow me to say. Again. Thank you for participating in our first half results. And., allow me again. To say happy holidays to everybody. See you again at the. End results. Beginning of March. Thank you.
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