AKTOR Group: Triple Work Cycle and Sixfold EBITDA in 2024

The AKTOR Group achieved a full upgrade of all critical financial metrics in 2024, according to the annual financial statements released on April 29, 2025. This marks the decisive implementation of the group’s new business strategy focused on profitable projects and diversification of revenue sources through a new operational model and significant expansion into new fields. The financial results surpassed initial estimates both in terms of turnover and EBITDA. Thanks to the full integration of AKTOR ATE for the entire year, an especially dynamic second half, accelerated construction of major projects, and improved group performance, the turnover tripled, reaching nearly €1.3 billion, marking an increase of 205% compared to 2023. The adjusted EBITDA of the group nearly sextupled, with earnings of €89 million (+456%). By applying effective cost management and a strategy for selecting higher-yield projects, AKTOR Group achieved profitability across all levels, with mixed profitability tripling to €124 million (+206%). Additionally, the group secured strong available cash reserves of €149 million and equity of €173 million, along with low net debt (€102 million), reflecting a healthy financial structure and readiness for investments and expansion into new sectors. In his comments on the 2024 financial results, the Chairman and CEO of AKTOR Group, Mr. Alexandros Exarchou, stated: ‘Our financial results confirm that at AKTOR Group, we deliver on all our promises. In 2024, we achieved a threefold increase in our turnover and a sixfold increase in EBITDA, exceeding even our initial expectations. We have a strong capital and cash base, as well as low debt, enabling us to accelerate acquisitions worth €2 billion that we have announced, of which over €1 billion will be implemented within the year. We are working hard and consistently towards achieving our goal of pro forma EBITDA of €184 million by 2025 and €430 million by 2030, respectively. 2025 will be the year of our corporate transformation, currently underway, as we proceed with spin-offs of four group sectors aiming to verticalize our activities, increase flexibility, and enhance synergies. We are extremely satisfied with our progress so far, having created a group with a sixfold turnover, expanded activities, and profitability within just 2.5 years. We are confident that our strategy for the future will justify our choices.’ The group’s backlog stands at €4.8 billion, including approximately 400 projects, some emblematic ones like the Brasov – Simeria railway line in Romania, the Fujairah oil terminal, metro and tram operations in Doha, the SDIT Kalamata – Methoni project, the Northern Crete Highway (NOAK), and the Riviera Tower, among others. The year 2024 was also marked by the signing of contracts worth over €0.5 billion, including significant projects such as the Tsiknia dam in Lesbos, the operation and maintenance of the Egnatia Odos highway, and various land improvement works in Aetoloakarnania. Furthermore, it was a year of delivering major infrastructure projects like the Thessaloniki Metro, the Kallonis – Sigri highway in Lesbos, the upgraded OAKA Altion Arena, and the Thebes Waste Processing Unit. Parallel to this, the group began its strategic cooperation agreement with PPC Renewables for joint investments in renewable energy, created specialized subsidiaries for each sector, and executed significant acquisitions (Prodea, renewable energy projects, Oceanic Group of Companies, ENTELHEIA) to strengthen its portfolio through €2 billion worth of investments. 2024 also marked the start of an aggressive digital transformation plan aimed at creating an integrated information system to monitor subsidiary operations and key metrics in real-time, reducing human error in critical processes, and strengthening systematic control, transparency, data completeness, and decision-making speed. This plan is being implemented across all five subsidiaries and is expected to be completed by 2026. Notably, alongside the 2024 financial statements, the group issued its first Sustainability Statement, fully aligned with the requirements of the EU’s CSRD Directive, addressing material issues related to its business activity from both impact and financial significance perspectives.