Intrakat Group's strategic plan for the coming years, which includes expansion of the PPP and concessions portfolio, investments in renewable energy sources (RES), strengthening of the presence in the Romanian market, possible acquisitions, as well as development of other activities, was presented on Tuesday, June 25, 2024, to representatives of the investment community by the Vice Chairman of the Board and CEO, Mr. Alexandros Exarchou.
According to Intrakat Group's management estimates, in 2026, the group's turnover is expected to exceed €2.5 billion, EBITDA (earnings before interest, taxes, depreciation, and amortization) is expected to exceed €200 million, and investments in RES and PPPs are expected to reach €1 billion. The group's goal is to undertake new projects in Greece and Romania, amounting to more than €18 billion in the coming years, which will be added to the backlog of €5 billion.
The forthcoming big projects offer a lot of work in the near future, according to the analysis the company's management gave investors, and Intrakat is well-positioned—with very little leverage—to assure their smooth financing and to seize market opportunities.
Mr. Exarchou also underlined the Group's interest in further expansion in PPP and concession projects and left open the possibility of acquisitions of related holdings and other portfolios of activities, with the ultimate goal of diversifying the Group's revenue mix in the future.
In addition, extensive reference was made to the potential of the Romanian market, which shows high availability and absorption of European funds for large projects and is now promoting the use of PPPs and concessions, in which Intrakat is keenly interested. As the group's management stressed, Romania is a top priority and a vital market, and the aim is to quadruple the revenues coming from there, as expectations are huge ahead of a €26 billion project tender in the next two years in the neighbouring country.
In addition, Mr. Exarchou stressed the importance and potential of the strategic cooperation with PPC for the joint development of RES in Greece, which will help the Group implement its strategic plan in energy faster, aiming to increase revenues from this activity. Already, the company has launched investments in 500 MW of capacity over the next two years and expects to generate €40 million in revenue from RES in 2026. Intrakat's chief executive described the partnership with PPC as a safety valve, noting that the energy market is changing and becoming increasingly difficult, with more competition and more difficult financing terms, and the partnership with a large, vertically integrated market player makes Intrakat's planning more secure.
Furthermore, Mr. Exarchou announced that, as part of the group's corporate transformation, which will take place in November, possible acquisitions will be announced in various business areas, not only construction. At the same time, Intrakat Group will promote the further development of notable portfolios, such as quarrying and building and infrastructure management, through AKTOR's subsidiaries, Hellenic Quarries S.A. and AKTOR Facility Management, with the aim of increasing revenues from these two sectors.
And he predicted that in 2024, Intrakat, as well as its subsidiary AKTOR, will close the year with a positive result, while he made special reference to the ongoing transformation of the group following the acquisition of AKTOR, which has put it in an advantageous position in the market as it has secured multiple sizes compared to the past, noting that he is particularly pleased by the result.
