ElvalHalcor, Greece’s leading aluminium and copper producer, has reported strong investor interest in its €250 million share capital increase (SCA), launched to finance an ambitious €850 million investment plan. The subscription book for the offering opened today and is set to remain open until 16 July.
According to preliminary information, the offering — which includes up to 75 million new ordinary voting shares with a nominal value of €0.39 each and a maximum issue price of €4.86 per share — has already been oversubscribed, underscoring robust market confidence in the company’s growth strategy.
A Long-Term Vision for Growth
Speaking at an investor briefing, ElvalHalcor’s Vice Chairman Spyros Kokkolis outlined how the new investment programme aims to lift the company’s organic profitability to €475 million over the long term. A significant portion of the funds will support expansion in the aluminium sector, including the installation of a third cold rolling mill and a new facility for processing recycled aluminium materials.
Production and Profitability Targets
In the medium term, ElvalHalcor targets annual production of 470,000–490,000 tonnes of aluminium and 200,000–210,000 tonnes of copper, with organic profitability expected to reach €350–400 million. Over the longer horizon, the company aims to produce 630,000 tonnes of aluminium and 215,000–225,000 tonnes of copper.
Since 2018, ElvalHalcor has invested approximately €895 million in Greece — focusing on boosting production capacity, digital transformation, and improving energy efficiency.