COMPANY S PRESENTATION 7/04/2006
Agenda I. Overview II. Group Profile III. Financial data IV. Group Prospects
Overview Percentage Holdings & No. of Shares VIOHALCO S.A....64,13% Other Shareholders...35,87% Number of Shares...124.060.815 Listed in A.S.E. since 1996
Overview ELVAL Important Dates 1937: Foundation of VIOHALCO Group 1947: Listing of VIOHALCO in A.S.E. 60 s: Start of Greek aluminium industry 1973: Elval S.A. was established as the only aluminium flat rolling operation in Greece Sales 20,000 t 1993: Installation of new single stand hot mill. ELVAL product hot rolling rolls width 2.5 m 1996: Listing of ELVAL S.A. in A.S.E. 1998: The cast houses of the company enforce with a new unit of speed caster 1999: Installation of a wide Achenbach Foil Mill. Installation of a new lacquer line width 2m. Sales 125,000 t 2001: Acquisition of the LAWSON MARDON Star in Bridgnorth UK. Installation of the modern cold mill in Europe 2003: Commissioning of a new cast house for 8m slabs 2004: initiation of the investment program of Bridgnorth Sales 236,000 t
Overview Important Participations 100% 58,15% 100% 66,67% 50,00% 99,99%
Overview Structure of ELVAL S Group(indirect & direct percentage) Rolling Extrusion ΕLVAL S.A ETEM S.A 58,15% BRIDGNORTH Ltd 100,00% ELVAL COLOUR Α.Ε. 100,00% ΕΤΕΜ COMMERCIAL S.A. 50,10% VEKTOR S.A 66,67% ΑΝΟΞΑΛ Α.Ε. 70,00% STEELMET ROMANIA S.A. 51,63% STELLMET S.A. 89,00% STELLMET S.A. SOFIA 100,00% ALU BUILD S.R.L 100,00% MOPPETS LIMITED 100,00% ΕΤΕΜ SCG 100,00% PORALU HELLAS Ltd 50,00% ETEM SYSTEMS S.R.L. (Romania) 51,00% ETEM SYSTEMS (Ukrain) 100,00% Paper & Formation Non-allocated VIOMAL S.A. 50,00% VIEXAL Ltd 73,33% SYMETAL S.A.. 99,99% BLYTHE Ltd 100,00%
Agenda I. Overview II. Group Profile III. Financial data IV. Group Prospects
Group Profile Main Production Units ELVAL S.A. (Oinofyta) Rolling Aluminium BRIDGNORTH (England) Aluminium Extrusion ETEM S.A. (Magoula) Aluminium Extrusion
Group Profile Other Production Units Thiva (ELVAL COLOUR S.A.) Painting of Aluminium Strips Manda Attica (SYMETAL S.A.) Aluminium Paper Agios Thomas (ETEM S.A.) Product of complex Aluminium Panel (Etalbond) Bulgaria (Subsidiary of ΕΤΕΜ) Aluminium Extrusion Nea Artaki - Halkida (BIOMAL S.A.) Aluminium Formation
Group Profile Products ROLLING PRODUCTS EXTRUSION PRODUCTS Building & Construction (mill-finish & coated) Rigid packaging for beverage & food cans Flexible packaging (foil) Transport : Marine & Automotive (Hi Mg) Specialised industrial products Litho Coils Architectonical Profile Industrial Profile Complex Panel (ETALBOND )
Group Profile Rolling Aluminium Products
Group Profile Extrusion Aluminium Products
Group Profile European & Balkan Sales Network Bridgnorth Aluminium Metal Agencies Elval Automotive Genecos S.A. Tepro Metal Metal Globe Steelmet Romania Alurame ΕΤΕΜ S.A. ΕLVAL S.A. Steelmet S.A ΕLVAL S.A. ΕΤΕΜ S.A.
Group Profile
Group Profile Recycling 30.000 ton. Aluminium recycling per year Nationwide collection network + imports Founding member of the Hellenic Aluminum Associated, created to promote recycling awareness From Jun-2004 it works the Recycling Center of Aluminium cans (ΚΑΝΑL) in Marousi, (2,800 ton secondary recycling capacity per year)
Group Profile
Group Profile Protecting the Environment State-of-the-art air filters Waste-water treatment and reuse Chemical recycling through approved subcontractors Lubricant & production oil recycling ISO 14001 certification in process
Group Profile Quality System ELVAL S.A. ISO 9002: certified since 1994 ISO 9001: certified since 2000 TS/ISO 16949: ISO 14001: OHSAS 18001: in process in process in process Quality standards according to individual customer needs
Group Profile
Group Profile ELVAL Oinofyta Plant Remelt Hot Mills Cold Mills Finishing Capacity ~260Tn Capacity ~300Tn Capacity ~240Tn Capacity ~240Tn 5 DC s 1 CC Secondary Recycling Pusher Type Preheats 2 Hot Mills 3 Cold Mills Intermediate Slitters Annealing Finishing Slitters 2 Foil Mills Foil Finishing Lacquering & Painting
Group Profile Stages of Production Plan
Group Profile CAST HOUSE
Group Profile HOT ROLLING
Group Profile ΧΥΤΗΡΙΑ COLD ROLLING
Group Profile ΤΜΗΜΑ FOIL FOIL ROLLING
Group Profile COATING LINES
Group Profile ELVAL METALLURGY CENTER New product and process development Product and process monitoring Molten metal quality assessment Raw material testing Production troubleshooting Customer service and metallurgical technical support Hellenic center of metal research: R&D VIOHALCO Group
Group Profile
Agenda I. Overview II. Group Profile III. Financial data IV. Group Prospects
Financial data Sales (in 000 tn) Bridgnorth Elval 300 250 kt 200 150 34 38 38 50 49 100 50 0 20 24 32 54 96 124 127 130 154 173 189 187 1975 1980 1985 1990 1995 1999 2000 2001 2002 2003 2004 2005
Financial data Sales (in 000 tn) 2000 2001 2002 2003 2004 2005 Building & Construction (coated) 12 13 16 16 18 18 Rigid packaging for beverage & food cans 28 38 39 36 28 39 Flexible packaging (foil) 41 52 62 46 58 48 Transport : Marine & Automotive (Hi Mg) 16 16 21 29 38 41 Litho Coils 0 16 34 3 39 43 General Rolled Products 28 20 33 36 58 48 Architectural Profiles 10 11 11 13 10 9 Industrial Profiles 2 2 2 3 5 6 ETALBOND 2 2 3 4 4 4 Total 139 170 220 185 259 255
Financial data ELVAL (OINOFYTA) Sales by product category 2005 2% 15% 2% 2% 17% Building and Construction Architectural 32% Packaging 3% 27% Etalbond Transportation Industrial Other Litho
Financial data ELVAL (OINOFYTA) Sales-Exports 2005 12% 10% 21% 25% 79% Domestic Export 7% 46% European Union Far east Middle east N. America Other countries of Europe
Financial data Financial Data 2004-2005 Financial Data (acc. to I.F.R.S) (Consolidated) (Company) (in. mill. EURO) 2004 2005 2004 2005 Sales 668 706 437 467 EBITDA 77 67 42 39 Net Profit (Before taxes) 26 16 10 9 Non current Assets 536 538 438 425 Current Assets 382 433 241 275 Total Assets 921 959 679 700 Owner's Equity (include Min. interest) 531 551 451 461
Financial data Consolidated Sales 800 700 600 mill. euro 500 400 300 200 100 0 1997 1998 1999 2000 2001 2002 2003 2004 2005
Financial data Consolidated Owner's Equity mill. euro 560 550 540 530 520 510 500 490 480 470 460 2003 2004 2005
Financial data CONSOLIDATED CASH FLOWS 50 Cash Flows from Operating Activities 40 30 33,30 41,92 Cash Flows from Investment Activities Cash Flows from Financing Activities 20 mill. euro 10 0-5,49 0,02-10 -20-30 -25,98-36,98-40 2005 2004
Financial data Capex 2000-2005 (in mill euro) 2000 2001 2002 2003 2004 2005 Oinofyta Plant 59 52 40 29 13 14 Bridgnorth Plant 4 32 23 8 4 ETEM Plant 8 10 15 8 10 10 Other Investments 5 3 5 3 2 7 Total 72 70 92 63 33 35 The total investments of Group for 6-years 2000-2005 amounts to 365 mill. euro
Financial data Investments to Production Units 70 mill. euro 60 50 40 30 Oinofyta Plant Bridgnorth Plant ETEM Plant Other Investments 20 10 0 2000 2001 2002 2003 2004 2005
Financial data Acc. to I.F.R.S. Consolidated Assets FIXED ASSETS TOTAL ASSETS mill. euro 1000 900 800 700 600 500 400 300 200 100 0 2003 2004 2005
Financial data Information per Sector Sales Extrusion 15% Paoer & Formation 4% Non allocated 0% Extrusion 20% Paper & Formation 3% Assets Non allocated 0% Rolling 81% Rolling 77%
Financial data Information per Sector Profits after taxes Paper & Formation 5% Non allocated 12% EBITDA Extrusion 31% Rolling 52% Extrusion 20% Paper & Formation 3% Non allocated 3% Rolling 74%
Agenda I. Overview II. Group Profile III. Financial data IV. Group Prospects
Prospects Increased participation of high added value products in the product mix Decrease of return coefficient Downsizing the cost Professional training of Personnel Improvement of Safety and hygiene in all working places
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