ElvalHalcor Group sales volume increased by 1% in Q1'2024 compared to the respective period in Q1’2023. If we exclude the effect of Etem's deconsolidation during Q1’2023, this increase was 2%. Sales stood at €816.6 million in Q1’2024, down by 12.2% compared to €930.5 million in Q1’2023, mainly affected by the downward trend in metal prices.

Consolidated gross profit amounted to €53.2 million in Q1’2024 versus €64.6 million in
Q1’2023, while consolidated earnings before interest, taxes, depreciation and amortization (EBITDA)
stood at €44.8 million compared to €56.0 million in Q1’2023 as a result of reduced conversion
prices due to low demand and product mix. The accounting metal result, which amounted to losses
of €4.2 million in Q1’2024 versus losses of €14.2 million for Q1’2023, negatively affected the
aforementioned figures.

Consolidated adjusted earnings before interest, taxes, depreciation, and amortisation, metal result,
and other exceptional items (a-EBITDA), which better reflect the Group's operational profitability,
declined by 30.7%, reaching €48.7 million in Q1’2024 versus €70.3 million in the respective
prior period.

Consolidated net financial result (cost) reached €12.5 million in Q1’2024, declining by 7.3% versus
the respective prior period of €13.5 million.  Consolidated profits after tax stood at €14.6 million in Q1’2024 versus €19.6 million in Q1’2023.  Consolidated profit after tax and non-controlling interest amounted to €12.9 million in Q1’2024 or (EUR 0.0345 per share), compared to €18.0 million in the respective period of the prior year (or EUR 0.0481 per share)