Alumil Group recorded an increase in turnover of 9.7%, reaching €214.8 million for the period ended 30 June 2024 compared to €195.8 million for the corresponding period of 2023.
Gross profit increased by 25.9%, reaching EUR 57.8 million, compared to EUR 45.9 million in 2023, while profit before tax amounted to EUR 12.1 million, an increase of 152.1% from EUR 4.8 million in the corresponding six months of 2023. Net profit after tax amounted to EUR 9.0 million, an increase of 221.4% from EUR 2.8 million last year.
This increase reflects the improvement in the efficiency of the Group's services and operations, ALUMIL's new business model, and the strong demand for ALUMIL's products, especially those of high quality with the highest added value.
Operating profit (EBITDA) amounted to EUR 26.0 million, a significant increase of 51.2% compared to EUR 17.2 million in 2023. This increase demonstrates successful management through the increased return on the Group's investments.
The Company's turnover increased by 2.4%, reaching EUR 130.4 million in 2024 from EUR 127.3 million in 2023. The Company's profitability increased significantly, thanks to the upgrading of operational processes, investment in innovation and increased efficiency.
Gross profit increased significantly by 37.8% to EUR 23.7 million, compared to EUR 17.2 million in the same period of 2023. This strong increase demonstrates the effective pricing policy and the continuous optimisation of production processes.
The Company's profit before tax amounted to EUR 5.0 million, an increase of 38.9% compared to EUR 3.6 million in the first half of 2023. Net profit after tax increased by 37.0% to EUR 3.7 million, compared to EUR 2.7 million in 2023.
The Company's operating profit (EBITDA) showed an impressive 70.1% increase, reaching EUR 13.1 million, compared to EUR 7.7 million in the same period last year. This increase confirms the strong financial performance and rewards the implementation of strategic actions for the proper use of operating assets.
CEO STATEMENT
"2024 is proving to be an excellent year for ALUMIL, despite the ongoing global challenges and market changes. Our sales growth of 15.2% in volume and 9.7% in value in the first half of the year and a 221.4% increase in net profit compared to 2023 are a clear indication that our strategy is paying off," says President and CEO Mr. George Mylonas, stressing that "in an environment full of uncertainty, we have managed to increase our performance and strengthen our presence at an international level, confirming our leadership position in the aluminium industry".
"2024 is a landmark year for us as we invest heavily in innovation and automation. The artificial intelligence technologies that we are integrating into our production lines for both aluminium extrusion and painting , the operation of our new robotic warehouse and our automated packaging and production lines, increase our productivity and reduce our environmental footprint", underlines Mr. Mylonas, noting that "we continue to strengthen our investments with the aim of full digitalization and digital transformation of the Group".
"Our goal is to lead the industry, not only by increasing our size but also by implementing sustainable practices and cutting-edge technologies," concludes Mr. Mylonas, noting that " looking ahead, we are committed to continue our growth with respect for the environment and with innovation at the core of our activities."
