TEKAL is negatively affected by the projects that are delayed, mainly in the public sector, as although the relevant contracts have been signed, there are delays. 

However, the biggest issue the company has to deal with is the delay of the PPA project, one of the largest projects in its portfolio.  The company has not received in time the expected claims from the interruption of the cruise project at the port of Piraeus, hitting its liquidity.  

LENDING 

The continued increase in raw material prices, the situation with the port of Piraeus, and the increased energy costs affected the company's loans and liquidity in general. However, TEKAL has gradually begun to repay its loans, which has reduced its long-term and short-term liabilities by more than €8 million. The company has taken out a €2.046 million bond loan, which has been repaid. The total long-term liabilities to credit institutions amount to €12.3 million, while the short-term part of this amounts to €3.9 million. The short-term loans in total amount to €18.8 million, for which prepayments have been made by Alpha Bank, Pancreta, and Optima Bank.

PROSPECTS

The company is recording an increase in the current financial year, which is due to the high backlog and the implementation of the projects already contracted. Besides, it is closing other projects, while the outlook for the construction sector is positive, which is also due to the Recovery Fund funds.  

PROJECTS

Among the projects it has already completed are the following:

• Workshop at Pier II in Neo Perama
• Wind farm in Katerini
• Improvement of the Panormos
• Exantis road section