Intrakat is undergoing a total transformation, which, as announced yesterday by the Group's Chairman and CEO, Alexandros Exarchou, is renamed Aktor Group of Companies. It is planning to invest €2 billion in acquisitions and expansion in new activities in order to diversify its EBITDA mix. 

Τhe aim is to create new stable sources of revenue and shareholder value as well as to build a balanced portfolio of activities at the end of the decade.

A €200 million capital increase is also in support of the recovery plan. The group aims to achieve in 2025: 

• turnover of €1.4 bn 
• EBITDA of €184 mn

In 2030: 

• turnover of €3.2 bn
• EBITDA of €430 mn

In 2030, the diversified EBITDA mix will come from:

• 42% construction
• 30% renewable energy
• 13% real estate
• 9% equity investments
• 6% facilities management.

After the completion of the acquisitions, the number of employees of the group in 2025 will exceed 8,800 employees in Greece and abroad.

SUBSIDIARIES

Referring to the renaming, Mr. Exarchou stressed that "Aktor has been and will continue to be the driving force of construction in Greece and the history of construction in our country". Aktor Group of Companies will have new structures in its operation and a holistic transformation and this will be achieved through five subsidiaries, which will implement their activities in a vertically integrated manner.

AKTOR REAL ESTATE 

The company will acquire a portfolio of 56 properties, worth €582 million, from Prodea in:

• Greece
• Italy
• Cyprus
• Bulgaria.  

The EBITDA target is to reach:

• in 2025 €40 mn
• in 2030 €55 mn

The capital for the investment of €582 million will come from: 

• 75% non-recourse Bank Debt
• 15% non-recourse Sub Debt
• 10% equity.

The contribution to the group's EBITDA will reach 13% in 2030. 

AKTOR RΕS 

Proceeds to invest €1.4 billion in renewable energy projects with a capacity of 1.300 MW by the end of 2027, through:

• the implementation of existing agreements for the acquisition and construction of RES projects with a cumulative capacity of 912 MW 
• and the acquisition of a further portfolio of RES projects, totalling 390 MW, currently under investigation

With an implementation horizon beyond 2028:

• the company will mature an existing portfolio of energy projects with a capacity of 1. 300 MW -
• and  1,500 MW portfolio of energy storage through pumped storage

The objective is to achieve EBITDA:

• €22 million in 2025
• €130 million in 2030

Total investment will amount to €1.4 billion, of which:

• 80% non-recourse Bank Debt
• 10% non-recourse Sub Debt
• 10% equity.  

The company's contribution to group EBITDA will reach 30% in 2030.

AKTOR CONSTRUCTIONS

The acquisition of the technical company Entelechia in Greece was completed in order to strengthen its technical expertise in electromechanical infrastructure projects, while investment opportunities in the construction sector and in Romania are under consideration. The objective is to achieve:

In 2025

• turnover of €1.6 billion
• EBITDA of €109 million

Ιn 2030

• turnover of €2.9 billion
• EBITDA of €180 million

Investments for direct acquisitions through equity will amount to €10 million The company's contribution to the group's EBITDA will reach 42% in 2030.

AKTOR FACILITY MANAGEMENT

The subsidiary aims to become a one-stop shop, covering all intra-group needs, by proceeding to acquire companies active in the security and catering services sectors.  Specifically, the acquisition of Oceanic Security has been agreed, while it is close to completing the acquisition of a catering services business in the coming days, Mr Exarchou said. The target is to achieve EBITDA:

• In 2025, €12 million
• In 2030, €25 million

The contribution to the Aktor group's EBITDA will be 6% in 2030. Investments for direct acquisitions will amount to €21 million and will come from operating cash flows.

AKTOR INVESTMENTS

It will build a portfolio of concessions with a maturity horizon of 2028 and aiming to achieve:

• EBITDA of €40 million in 2030
• with a contribution rate to group EBITDA of 9% in the same period The company starts with a strong foundation in PPPs, while the acquisition of existing operating concession projects or companies with stakes in concession projects is under consideration. It also aims to develop a concessions portfolio in Romania when the state chooses to use this model of infrastructure construction and financing.