The mediocre performance of the metals sector led to a decline in the figures of the Viocarpet Group in the first half of the year. 

In particular, the decline in profitability as well as in the profit margin of the subsidiary, Exalco, was mainly due to: 

• the expected increased costs required to complete the transfer of the production process 
•  the reduced production in Q1 2024, due to the dismantling and transfer of the last extrusion press from the plant in Nikaia Larissa, to the plant in Koulouri Larissa -, the decline in the price of aluminium in the first quarter of 2024 As for the other activities of the group, the textile and energy sectors showed similar financial results with slight fluctuations compared to the same period in 2023, while the IT sector turned positive.

INVESTMENTS

Investments in fixed assets amounted to €8.49 million in the first half of the year. In particular: 

• The transfer of all the machinery of Exalco's production process to your Koulouri, which, according to management, is expected to bring significant economies of scale and significantly help the group's financials, was completed at the end of the second half of 2024 and mainly 2025 -
• The construction of a new building for the packaging of aluminium products was completed on 4.850 sqm in Koulouri, Larissa 
• Started the operation of Exalco's 2.5 MW Net Metering PV station in Koulouri, Larissa
• Completed the operation of Exalco's two robotic warehouses; completed the new parts warehouse of 2.018 sq. m. for Exalco; completed the works of the new horizontal painting line at the factory in Koulouri Larissa, which is expected to increase production by 3,500 tons per year;
• Received permits for the installation of the two new photovoltaic plants, one of the parent company Biocarpet and the other of Exalco, with a capacity of 12MW, which will result in 100% sufficiency of the Group in electricity at a lower cost.
• Work on Biocarpet's 4MW PV plant is expected to start from this month, with a plan to complete the project in the first quarter of 2025. While work on Exalco's 8MW PV plant is expected to start in Q1 2025, with a target completion date of Q2 2025