Ellaktor announced on Thursday its key financial results for the financial year 2023, recording a net profit of €116 million compared to a loss of €2.6 million in the previous year. Net and operating profitability is at its highest level in the last 10 years.

KEY FINANCIAL FIGURES

-Revenue at €387.5m, an annual decrease by 3%.

-Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) at €242.2m, an annual increase of 46%. EBITDA margin at 63%.

-Profit Before Tax (PBT) amounted to €143.6m compared to €28.8m in FY 2022, an increase of +400%. 

-Net profit is €116 million, compared to a loss of €2.6 million last year.

-Positive Operating Cash Flows at €73.5m.

-Group Net Cash1 is €308 million as of December 31, 2023, compared to €1521.2 million as of December 31, 2022.

-Cash and cash equivalents of the Group amounted to €521m as of 31.12.2023, compared to €364m at the end of 2022.

-Total Equity at €975m (€2.80 per share), Equity attributable to shareholders amounted to €897m, (€2.57 per share).

Commenting on the Financial Results for the FY 2023, Ellaktor's CEO, Efthymios Bouloutas, mentioned: «2023 was a pivotal year for ELLAKTOR Group, with total net earnings from Continuing Operations of €116m, and net and operating profitability registering 10-year highs. This substantial profitability was premised on a consistent operating restructuring and the active management of the Group’s assets. The Group is now focusing on profitably growing Continuing Operations and generating stable, predictable cash flows. During 2023, the Group concluded two significant transactions; the sale of AKTOR and the sale of retail park Smart Park, while during Q1 2024, we disposed of our remaining 25% stake in Anemos RES. As a result, our Group’s total liquidity currently exceeds €700m. Leveraging the outstanding quality and know-how of our people and the substantial liquidity buffers, we are poised to play a leading role for the benefit of our shareholders, employees and society»