Gek Terna Sees Profit Surge in 2024, Proposes Increased Dividend by 60%

Gek Terna experienced a significant boost in profitability for 2024, with net profits rising to €818.3 million compared to €147.8 million the previous year, according to the company’s financial results announcement. The annual profit was notably influenced by the proceeds from the sale of Gek Terna’s stake in Terna Energetiki within 2024, amounting to €742.5 million (cash proceeds €864 million). Meanwhile, profits from continuing operations—excluding non-operating results—amounted to €99.5 million. Regarding group revenue and operational profitability from continuing activities throughout the year, they remained at levels consistent with the prior year, at €3.25 billion and €404 million respectively. Notably, the concessions sector now contributes over 60% of operational profitability. The adjusted net debt of the parent company decreased to €152 million (compared to €317 million in 2023), while the total available liquidity for the entire group reached €1.5 billion (including €0.9 billion at the parent company level). Following its robust financial structure and forecasts for profitability and cash flows, the Board of Directors will propose an increase in the dividend payout for 2024 by 60% compared to the previous year, reaching €0.40 per share (all-cash). During 2024, the Group implemented a key part of its strategic planning, aiming to become a leading infrastructure group in Greece and Southeastern Europe, participating in iconic transactions totaling €11 billion, including the sale of Terna Energetiki and the acquisition of Attiki Odos. Additionally, it secured new concession and PPP projects worth €2.5 billion in 2024, ensuring additional stable and attractive returns for shareholders. The Group continues to prepare and evaluate participation in several significant projects expected to mature in upcoming periods. In parallel with executing its strategic plan in the concessions sector, the construction segment recorded a historic high in backlog, which now stands at €6.9 billion, with over 70% attributed to private projects and own investments. Beyond public works, this includes several emblematic private projects such as the first phase of Athens International Airport’s expansion, numerous high-spec commercial properties, energy projects (photovoltaics, natural gas and electricity networks), and more. Looking ahead, the Group anticipates further strengthening its presence in the infrastructure space in Greece and Southeastern Europe despite global geopolitical volatility, driven by its vertical integration, deep expertise, and strong financial position.