The nine-month figures announced by Cenergy during yesterday's analyst briefing were characterized as particularly positive. The company is expected to end the year with a significant increase in profitability, net profit, and sales. 

As Alexander Benos, the company's CFO, pointed out, the foundations for long-term growth have been laid. This is due to the fact that the trends in the international markets concerning electrification, green, and digital transition are being met. Mr. Benos stressed that the nine-month figures were very positive. 

NO CHANGE DUE TO TRUMP

Mr. Benos was asked about political developments in the US and whether the election of Trump creates issues for the new US plant and projects undertaken by the company in the US. He was clear, stressing that "political developments in the US do not affect the investment for the plant or the projects we have on the continent at all." 

BACKLOG

Particular emphasis was placed on the backlog of €3.5 billion, which leads to long-term growth. This is because it is expected to grow further by the end of the year as new projects are constantly being undertaken. 

THE OUTLOOK

Finally, special reference was made to the prospects of Cenergy's divisions. In particular:

The Cable Division continues its strong medium-term financial outlook as the backlog of orders continues to grow and the expansion of capacity at its facilities is proceeding according to plan. Increased demand for renewable energy solutions and for electricity in general and improvements in networks are some of the main trends, at least for the next decade. In addition, demand for cable products (low and medium voltage cables and telecom cables) remains strong, and orders are increasing through the award of long-term framework contracts.

The Steel Tubes Division continues its profitable performance based on its strengthened position in international markets and high capacity utilisation, while implementing new investments to improve and increase its production capacity, which are expected to be completed by the end of the year. Looking ahead, Corinth Pipeworks expects that the gaseous fuels market will continue to grow as it will be the main transitional fuel and will lead in the short term to carbon capture and storage (CCS) pipeline projects and in the medium term to hydrogen infrastructure projects. Improving market conditions are also helping to strengthen the backlog, fuelling a positive outlook for the rest of the year