"Our strategy to become one of the leading infrastructure players in Europe is progressing according to our plan and is already producing tangible results."  With these words, the President and CEO of GEK Terna Group opened the conference call with analysts last Friday.

Mr. Peristeris revealed that in the last 2-3 months GEK TERNA has strengthened its infrastructure footprint by €1 billion through tenders, in areas beyond the traditional transport infrastructure, where the group has become a leading player (Attiki Odos, Egnatia Odos, North Road Axis of Crete, etc.).

He noted that the contribution of the concessions sector to the group's financial performance will increase significantly in the coming periods with the commercial operation of various projects. "This will commence in the latter part of the year with the opening of the Attiki Odos concession, which will be followed by the Natural Gas Power Plant in Komotini beginning commercial operations and the opening of the Egnatia Odos concession within 2025. The next major milestones are the New International Airport in Kastelli in 2026–2027 and the Integrated Tourist Complex in Elliniko in 2028," stated Peristeris.

"For our construction segment, we expect to maintain a healthy and strong profitability given our mix of projects under execution," Peristeris said, adding that "in terms of conventional/thermal energy, based on what we are currently seeing in the market, we expect improved performance for the second half of the year."

As a reminder, in the first half of the year, GEK TERNA Group reinforced its strong profitability levels, following the further maturation of investments in the concessions and renewable energy sectors and the healthy profitability of the construction sector. Particularly, the Concessions business saw an increase in sales and operating profitability, primarily as a result of more passages on New Road and Central Road. The construction sector maintained healthy profitability levels, despite lower revenues due to the timing of project execution, while the backlog stood at €5.0 billion. In the conventional energy sector, HERON ENERGY recorded higher sales volumes of 45.6% compared to H1 2023, following the increase in market share achieved during 2023 and early 2024, now standing at 10.9% for June 2024. At the production level, gas-fired power generation increased by 16.6% in H1 2024.

It is noted that following the completion of the transaction for the sale of the Group's stake in TERNA ENERGY, cash and cash equivalents (€1.1 billion as of 30.06.2024) will increase by €864 million, significantly strengthening the Group's investment strength, while at the same time, debt liabilities related to TERNA ENERGY of €1.1 billion will be removed from the Group's consolidated balance sheet.