Cenergy Holdings Reports €134M Net Profit for 2024, Announces €0.14 Per Share Dividend

Cenergy Holdings has announced its financial results for 2024, reporting net profits of €134 million for the year. The company showcased strong profit margins with adjusted EBITDA reaching €272 million, marking a 27% increase year-over-year, driven by historically high margin performances in its steel pipes sector at 16.4%. The cables division also reported further improvements in already high profit margins. Sales rose to €1.8 billion, showing a +10% annual growth. Net debt stood at €152 million, reducing the leverage ratio below 1x. A steady inflow of new orders across both sectors during the year resulted in an order backlog of €3.44 billion as of December 31, 2024. Consolidated net profits after taxes increased to €139 million (from €72.95 million the previous year), enabling the proposal of a dividend distribution of €0.14 per share, a 75% increase from the prior year. For 2025, the adjusted EBITDA is estimated between €300 and €330 million. Commenting on the group’s performance, Mr. Alex Alexiou, Managing Director of Cenergy Holdings, stated: ‘2024 was a significant milestone in Cenergy Holdings’ history, marking our continued upward trajectory and the start of a new chapter. The successful equity increase confirmed market confidence in our capabilities, allowing us to proceed with constructing a new ultra-modern cables facility in the U.S., expected to be operational by 2027. Our customer-centric approach and proven ability to execute demanding energy infrastructure projects not only boosted sales and profitability but also significantly reduced debt, further strengthening our financial position. These results confirm our competitiveness and set a goal for 2025 to continue the historic achievements of 2024. Such success would not have been possible without the commitment of all our people to our values: teamwork, safety, excellence, and integrity.’