The AVAX Group's management presented the financial results for 2023, the company's strategy, and prospects at a global level to representatives of stock exchange companies and institutional investors on Tuesday.

Construction, equity investments, and new investments are the activities that, according to AVAX Group management, are the pillars of the company's growth.

The high backlog of projects, the continuous improvement in net profitability, the 54-46 ratio between private and public projects, and AVAX's high level of expertise and experience in very demanding projects make up the power mix for the group.

Analysts and institutional investors were presented with the updated forecasts of EDISON and Optima Bank, with an estimated share price of €3.00 and €2.79 respectively, and a margin of +90% and +76% upside from current levels.

In Construction, EBITDA amounted to €26.7m with an enhanced margin of 6.2% in 2023 (vs. €17.6m with a margin of 4.7% in 2022). At the same time, new project wins are on an upward trajectory, with the backlog of signed contracts exceeding €3 billion. Management expects a significant upturn in the Sector's activity, with new projects incorporating expanded margins.

In Holdings, the Group maintains a strong portfolio from which returns are expected. In more detail:

Participations in concessions, PPPs and marinas are valued at €465 million in the current period, taking into account the time remaining and the nature of each contract

Despite the expiry of Attiki Odos (October 2024), expected dividends (nominal) amount to approximately €1.1 billion, maintaining the long-term value of the Group's portfolio of holdings

AVAX is also proceeding with the transfer of equity interests to its wholly owned subsidiary, "AVAX Concessions," together with the associated bank debt, in order to make the structure and value of the group's concessions & PPP portfolio more clearly defined.