ElvalHalcor has reported a 21.5 pct increase in its consolidated turnover in 2017 to 1.863 billion euros, from 1.534 billion in 2016.
In an announcement on Monday, the company said that consolidated EBITDA jumped 29 pct to 160.5 million euros last year from 124.7 million in 2016 while EBIT jumped 49 pct to 102 million euros from 68.5 million over the same periods, respectively. Consolidated pre-tax earnings soared 98 pct to 63.9 million euros.
The Group said its turnover was positively affected by an increase in the volume of sales and by an increase in metal prices, while a reduction in industrial cost, improving production procedures combined with the development of technological innovation led to a further strengthening of ElvalHalcor's product competitiveness.
The aluminium sector recorded a 3.2 pct increase in the volume of sales and a 13.8 pct rise in turnover to 949 million euros. Pre-tax earnings jumped to 53.8 million euros from 33.3 million in 2016.
The copper sector recorded a 15.4 pct increase in the volume of sales in 2017 while pre-tax earnings jumped to 10.1 million euros from 1.0 million in the previous year.