Cenergy: Advancing US Plant Construction – Bright Prospects in Cables Due to AI and New Networks

The management of Cenergy characterizes 2024 as a milestone year, with all set targets achieved. According to annual results, Cenergy Holdings saw a 10% increase in sales (€1.8 billion), a 27% rise in adjusted EBITDA (€272 million), and net profits amounting to €139 million. Internationally, there’s an increasing demand in the energy sector for cables and conduits. The contribution of cables to financial results strengthened last year, while the expansion of production capacity is progressing smoothly, with the Thebes unit set to be completed by the end of 2025. Geographically, only 5% of last year’s sales were directed to America, 23% to Greece, and 48% to Europe. Cenergy’s strategic emphasis on value rather than volume is now paying off, as evidenced by the 2024 results. The order backlog reached €3.44 billion at the end of last year, with €3 billion attributed to cables. In this segment, 50% of orders are for electrical connections and 35% for offshore wind farms. The American market presents significant growth prospects due to the need for grid modernization, artificial intelligence, and data centers. Last year, Cenergy made the final investment decision to build a plant in Maryland, USA, and is proceeding with necessary actions. Specifically, works are progressing smoothly as permits have been secured and equipment orders placed. This move aims to position the company to capitalize on new opportunities.