The Greek Foundation for Economic & Industrial Research (FEIR - IOBE) just published its study on the significant contribution of ElvalHalcor to Greece’s economic growth in 2023. According to IOBE, the company’s financial performance remained strong in 2023, with a EUR 3.3 billion turnover in 2023 and exports to 90 countries around the world. ElvalHalcor's industrial strength enabled more than EUR 1.1 billion in value added production in 2023.
ElvalHalcor's growth is inextricably linked to its strategic commitment to responsible production and sustainable product development. Despite the slowdown in global trade and the fall in international metal prices, the company’s aluminium and copper production value in Greece amounted to EUR 2.34 billion in 2023. ElvalHalcor’s exports represent 7.4% of Greece's total industrial exports, while in base metals, ElvalHalcor’s share increased to 55.5%, from 51.5% in 2022.
ElvalHalcor has a 63% share of total Greek exports of aluminium, the most exported product in the country after petroleum, worth EUR 1.51 billion in 2023. Also, the company’s EUR 835 million copper exports in 2023 represent almost all exports of this metal, which is in the top 10 of Greece’s most exported products too. ElvalHalcor's activity adds strong surplus value to the Greek economy, with its total contribution in production value reaching 0.7% of the country's GDP, i.e. approximately EUR 394 million in taxes in 2023.
In addition to its contribution to the Greek economy, ElvalHalcor actively supports employment in Greece. According to the IOBE study, its activities directly or indirectly supported 19,200 jobs in 2023, while each job in the company creates or supports another 5.9 jobs in the wider economy. ElvalHalcor invests both in the development of its technological equipment and its workforce, which is the key to its success.
The importance of ElvalHalcor's performance goes beyond the narrow boundaries of its industry. The success of its exports and its positive impact on Greece’s economic growth set an example for the shift of the country towards a new and more balanced production model. ElvalHalcor, committed to sustainable development and the pillars of Environment, Society, Corporate Governance, aspires to contribute even more to a sustainable future for our planet and next generations.