Cenergy is heading for a share capital increase of up to €200 million, with reports that they will participate in it:

• Goldman Sachs, as Global Bookmaker
• HSBC, as Joint BookRunner
• Alpha Bank, as Joint BookRynner and as co-leads : 
• Eurobank
• Piraeus
• Optima
• ING
• Pantelakis
• Euroxx

The money that will flow from the capital increase is expected, according to the same information, to be disposed of:

• The expansion of the company in the USA
• The expansion in Greece

In addition, the company is to expand its operations in the US and to upgrade and equip its factories in Greece. As mentioned during the meeting, the company plans to expand its operations and facilities in Greece. During the analysts' briefing, the goal of the company is to company's target is to put into operation the new investment in Baltimore, Maryland, USA by the end of 2027.

At the same time, the very positive half-year figures announced by Cenergy led management to raise the bar for the year's figures. According to the new guidance for the full year 2024, the estimate is that adjusted EBITDA will be in a range of €245-€265 million, compared to €214 million in 2023, registering an increase of around 24%. In terms of medium-term targets for the coming years, based also on the backlog, revenue growth of approximately 12% per annum is estimated, with a gradual increase in EBITDA in the range of €380-€420 million.

Cenergy is constantly taking on new projects, and as a result, the order backlog increased to €3.38 billion in the half-year. Some of the projects it has taken on are: 

• Seaway7 appointed Hellenic Cables as the main subcontractor for the design, construction, testing and supply of approximately 205 km of 66kV submarine cables and related components for the Bałtyk II and III wind farms, located in the southwestern Baltic Sea within Polish waters
• Amprion GmbH, one of the leading Transmission System Operators (TSOs) in Europe, has commissioned the implementation of two AC 380kV AC underground transmission systems in Germany concerning the Borgholzhausen (BHH, ENLAG16) and Conneforde-Cloppenburg-Merzen (CCM, BBPIG6) projects, Section A and C.
• Elia Asset NV/SA has awarded a consortium consisting of Hellenic Cables and DEME a contract for the engineering, procurement, construction and installation (EPCI) of a submarine
  220kV three-export cable system with a total length of 165 km to connect the Princess Elisabeth wind farm site to the coast.

In total, Hellenic Cables secured new orders of more than €600 million During the second half of the year, the steel pipe division is expected to maintain the utilization of the plant's capacity at high levels with the production of pipes for the following projects:

• Chevron's Leviathan project in Israel, an underwater natural gas pipeline
  Israel's subsea gas pipeline in Israel, a 118-kilometre-deep subsea gas pipeline with a 20-inch outer diameter to be built at the LSAW (submerged seam seam seamless arc pipe) plant.
•  Various projects in Italy for Snam, the majority of which involve pipes certified for up to 100 % hydrogen transport
• Various subsea pipelines for projects in the North Sea and Norwegian Sea are made from high-frequency welded (HFW) steel pipes.