Commentary on the Financial Results for the First Half of 2026

MEVACO METALLURGICAL INDUSTRIAL AND COMMERCIAL S.A. announced on 29 September 2026 its financial results for the first half of the current financial year (1 January–30 June 2026).

The Company’s revenue amounted to €17.657,25 thousand, compared with €49.222,74 thousand in the corresponding period of 2025, a decrease of 64,13%. This was mainly due to the gradual easing of the exceptionally strong demand for metal mounting structures for photovoltaic parks in Greece and abroad during the previous two years (2024–2025), when the Company recorded its highest performance to date. Revenue from services rose significantly to €6.456,75 thousand from €4.305,26 thousand in the comparable period, an increase of 49,98%, confirming the continued expansion and diversification of the Company’s activities.

Gross profit amounted to €4.464,42 thousand, compared with €15.668,81 thousand in the first half of 2025, a decrease of 71,51%. This reflected both lower sales relative to the record high of 2025 and broader inflationary pressures, including higher labour costs and raw material prices, which reduced the gross profit margin by approximately 6,5 percentage points.

Earnings before interest, taxes, depreciation and amortisation (EBITDA) amounted to €2.759,82 thousand, compared with €10.212,83 thousand in the corresponding period of the previous year, a decrease of 72,98%. EBITDA nevertheless remained positive, in line with the Company’s strategic objective.

Profit before tax amounted to €2.127,64 thousand, compared with €9.604,26 thousand in the first half of 2025, a decrease of 77,85%.

Profit after tax amounted to €1.585,95 thousand, compared with €7.428,62 thousand in the first half of 2025, a decrease of 78,65%, mainly attributable to the decline in revenue.

During the first half of 2026, the Company remained profitable and maintained a sound operating base. It also continued implementing its investment plan, including constructing a new industrial building to expand and strengthen its defence systems production division and production capacity. These investments are intended to reinforce the Company’s specialist capabilities and export focus.

Based on currently available information and its order backlog, management expects the Company’s performance in the second half of 2026 to be broadly in line with the first half, with potential for an upward trend, while maintaining operating profitability.

The Company remains focused on identifying new profitable areas of activity and entering new sectors and markets. Its strategy centres on undertaking and successfully delivering projects of significant complexity and demanding quality and technical specifications, drawing on its substantial production capabilities.