Your investments exceed 20 million euros Alumil only for 2024, while setting an arc this year for a Group turnover of 440-450 million euros and placing particular emphasis on digital transformation and “green” aluminum.
In more detail, the Alumil Group expects to increase its turnover by more than 440 million euros for the whole of this year (2024), as stated by its founder and chairman, George Mylonas, in the context of the annual ordinary general meeting of shareholders. The main objective for this year is also to disengage Alumil from servicers, specifically ECLAC, through the sale of the foundry to a strategic partner.
For this specific project, that is, the spin-off of the foundry branch – dated June 30th – and the sale of 70% of the spin-off company to a foreign strategic investor, according to the Group’s management, strong interest has already been expressed. by very large groups from America, Asia, the Middle East and Europe. The process is expected to be completed by the end of the year and Alumyl will retain 30% of the split company, to meet its “green aluminum” needs, while the resources obtained from the sale of 70% will be used to reimburse the obligations it has towards banks, which are in the hands of servicers.
GS voted in favor of two management proposals, which aim to reduce accumulated accounting losses, after which the company’s share capital amounts to 11,993,061.97 euros and is divided into 32,413,681 registered ordinary shares, with a nominal value of thirty-seven cents (0.37 euros) each.
High in 2024
This year is “running” with sales growth of 12% in value and 18% in volume at the five-month level and with an increase in operational profitability compared to the corresponding period last year. For the entire year 2024, the Group’s turnover is expected to exceed 440 million euros compared to 404.6 million euros in 2023.
From the GS floor, shareholders were also informed of the approval by Piraeus Bank, through the Recovery Fund, of a 15 million euro loan that will fuel the Group’s investment program at its headquarters in Kilkis.