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ElvalHalcor: A strong growth driver within the Greek economy

Significant increases in the Company's figures and their impact on the economy

are brought to light in a 2022 IOBE study

  • 0.7% of GDP (EUR 1.3 billion) represents the total impact of ElvaHalcor’s activity on the Greek economy
  • Represents 8.3% of the country's total industrial exports in value
  • Supports 22,600 direct and indirect jobs
  • Each job position within the Company supports additional 6.6 jobs in the Greek economy.
  • Added value from production amounts to approximately EUR 1.2 billion.


According to the IOBE’s recent study concerning ElvalHalcor and the impact of its activities in Greece (for 2022), the study highlights the significant growth in the company’s figures as well as its substantial impact on the Greek economy.

At a time when conditions in global markets and the Greek economy are volatile, ElvalHalcor has strengthened its position as a leading European industry player, with both strong exports and a strong presence in Greece.

The Company's production value in Greece increased by 28.8% to reach EUR 2.5 billion from EUR 1.9 billion in 2021. Similarly, employment increased significantly with a 7.9% increase in direct jobs totaling 3,000 jobs.

As an exports-oriented company, ElvalHalcor’s exports amounted to EUR 2.7 billion compared to EUR 1.9 billion in 2021, which corresponds to 8.3% of the country's industrial exports (excluding the petroleum products sector) and places it in 3rd place among the industrial sectors with the highest export value.

It is also worth noting that ElvalHalcor has invested significantly over the last five years via a strategic program in cutting-edge technology amounting to EUR 700 million, out of which EUR 189.1 million was invested in 2022 alone, a figure that places ElvalHalcor in third place in the Greek manufacturing sector in terms of investment volume. ElvalHalcor's technologically pioneering investment plan has strengthened Greek industry’s position, placing it not only at the forefront of worldwide sustainability megatrends but enabling it to become a notable contributor to the circular economy, the energy transition, as well as the climate neutrality goal.

ElvalHalcor’s role in the Greek employment market is also of particular importance. In 2022, directly or indirectly the Company supported 22,600 jobs, while each job in it created or supported another 6.6 jobs throughout the Greek economy.

Through its production and exports activity in 2022, ElvalHalcor mobilized forces in the wider economy and significantly strengthened the economic footprint of its activities, thereby confirming that the Company is a strong growth driver in the country.