Net profits of €54.2 million in 9M

Net profits of €54.2 million in 9M | TheGreekDeal.com

Ellaktor Group

Profit Before Taxes, Interest, Depreciation, and Amortization (EBITDA) recorded a 27% increase, reaching €147 million, with the EBITDA margin set at 52%.

Newsroom

23/11/23 • 19:15

TIME TO READ

2 min

Efthymios Bouloutas, Executive Member of the BoD, Chief Executive Officer, Ellaktor Group

Net profits of €54.2 million in the first nine months of 2023, compared to net losses of €6.1 million in the same period last year, were reported by the Ellaktor Group, with sales reaching €284 million, slightly down by 3% on an annual basis.

In more detail:

1. C.O. Revenue at €284m, -2.8% YoY.

2. C.O. EBITDA at €147m, increased by 27% vs. the same period of last year. Consolidated (C.O. + D.O.) EBITDA at €133m.

3. C.O. EBITDA margin at 52%.

4. C.O. Net Earnings at €54m, a margin of 19% (vs. losses of €6m a year ago).

5. Group Net Cash(1): €168m vs. Net Cash(2) of €152m at the end of 2022.

6. Equity attributable to shareholders at €860m (34% of total assets).

7. C.O. Operating Cash Flow at €99m.

CONCESSIONS

▪ Increased road traffic, Attiki Odos sees 10.2% YoY growth in 9M'23, up 10% from pre-Covid levels in 9M’19.

▪ On 21.4.2023, AKTOR Concessions (60%) and INTRAKAT (40%) jointly signed a 30- year PPP for the Southwest Peloponnese road axis.

▪ GEK TERNA (55%), INTRAKAT (25%), and AKTOR Concessions (20%) ink a 30-year PPP for the Hersonisos-Neapoli section of the Northern Crete Highway on 21.4.2023.

▪ AKTOR Concessions (50%) and MYTILINEOS (50%) submit a binding offer on 8.5.2023 for the Chania-Heraklion part of the Northern Crete Highway, covering construction, operation, maintenance, and concession.

▪ On 17.5.2023, GEK Terna (36%), AKTOR Concessions (32%), and AVAX (32%) submit an Unsolicited Proposal (Project ATHINA I) for expanding Attica’s road network towards Lavrio, Rafina and Vouliagmenis avenue.

▪ The Group engages in multiple PPPs and Concessions across various stages, spanning irrigation, water supply, buildings, dams, etc.

▪ Following settlement with the Ministry and approval by the Legal Council of the State, collection of an €85m claim tied to Thermaiki Odos is anticipated shortly, with AKTOR Concessions entitled to 50%.

ENVIRONMENT

▪ HELECTOR has been declared preferred bidder in projects totaling €42m for construction and €10m plus €10m preemption right for operation.

▪ In Q3'23, the company signed projects that are expected to increase its (own stake) construction backlog by €19m and operation budget by €19.6m plus €16.6m pre-emption right.

▪ HELECTOR is currently participating in tenders budgeted at €100m for construction and €64.2m plus €93.6m pre-emption right for operation.

▪ Since September 30, 2023, Helector has signed three new projects with a construction budget (own stake) of €26.5m.