The recent mega deal for TERNA Energy was mentioned, among others, by the president of GEK TERNA, Giorgos Peristeris, during the annual general meeting of the group’s shares.

As Mr. Peristeris said, the last 12 months have been a period of intense developments for the group, with the most recent event being the agreement for the sale of TERNA Energy.

He referred to the benefits arising for the GEK TERNA group from the deal, noting, among other things, that a loan amounting to 1.1 billion euros leaves the balance sheet, while the total funds that the group can use reaches the amount of 3 billion. euro. In addition, he emphasized that the net borrowing for the GEK TERNA group is set to zero.

Referring to the group’s profitability, he emphasized that the goal is to continue growing at a double-digit rate, while he predicted that operating profitability is expected to reach over 700 million euros in 2028.

“Our goal is for GEK TERNA to evolve into a fully vertical group, with one of the largest and most diversified portfolios of infrastructure and concessions, not only at the Greek level, but also at the international level. GEK TERNA is making this leap into the future precisely at the moment when the opportunity for new investments in infrastructure in Greece and in South-Eastern Europe is crystallizing, with high returns” emphasized the head of the group.

According to Mr. Peristeris, GEK TERNA Group will continue to play a leading role in the infrastructure sector, having already positioned itself strategically in a sector where it has a clear competitive advantage.

As he pointed out, by making private investments with multiplier value for the domestic economy instead of simply undertaking public projects, GEK TERNA, through serious and competitive offers that ensure both the interests of the company’s shareholders, as well as particularly satisfactory conditions for the Greek State, withpays over 6 billion euros to the public funds today (Integrated Tourist Complex in Elliniko, International Airport of Heraklion Crete, Egnatia Road, Attiki Road etc.), implementing an investment plan of more than 10 billion euros that will create 20,000 new jobs.

New projects in Greece and abroad

The goal, according to Mr. Peristeris, is for GEK TERNA to evolve into a fully verticalized group, with one of the largest and most diversified portfolios of infrastructure and concessions, not only in Greece, but also internationally. As he explained, the group will look towards “nearby” regions, eg SE Europe, which are in great need of infrastructure improvement.

Also, GEK TERNA aims to expand its portfolio beyond transport and energy infrastructures, such as in the areas of waste management, water resources management and technological infrastructures.

In Construction, the group is the largest and most profitable, with the highest backlog of more than 5 billion euros, noted Mr. Peristeris, adding that of the total backlog, more than 75% concerns private projects (same investments and projects for third parties), while more than 55% concerns own investment projects. In fact, the backlog is expected to increase, as the contracting of projects secured by the Group (eg BOAK) progresses.

He also pointed out that its construction arm, TERNA, in 2023 set a new annual high in the construction sector, having managed to more than double its revenue within the last 2 years, indicative of its ability to undertake and execute the largest infrastructure projects in the country .

At the same time, Mr. Peristeris also referred to the significant preference enjoyed by TERNA as a developer of large private projects. Over 1 billion euros of the Construction backlog, i.e. 20% of the Group’s total backlog, concerns large and emblematic private projects, such as THE GRID, the new PWC Office Building, the Office Building on the TEE plot in Dachtylidi, the Four Seasons Hotel Mykonos, the One&Only Aesthesis Glyfada, the Hub26 in Thessaloniki, the Medical Transbalkaniko of Thessaloniki, the Tower of Piraeus, and the Microsoft Data Center in Spata.

The Corporate Social Responsibility program was more than doubled

“The priority is for our progress to work multiplyingly for the national economy, employment, the Greek region, our people, for the whole of Greek society” emphasized Mr. Peristeris and went on to say that the GEK TERNA Group is implementing a very important program of Corporate of Social Responsibility, which for 2023 alone amounted to 11.6 million euros, i.e. more than double the 5.1 million euros it was in 2022.

“We improve the daily life of local communities, support the new generation, contribute to the care of socially vulnerable groups and strengthen the local economy and entrepreneurship, while at the same time declaring that we are always “present” in dealing with crises, natural disasters and emergencies. From the first moment that the devastating cyclone Daniel in Thessaly, the GEK TERNA Group, showing quick reflexes, rushed to the side of the local community, providing staff and over 250 machines from the neighboring TERNA construction sites in the wider area” he concluded

Capital return of 0.25 euros per share

It is noted that the general meeting of shareholders approved, among other things, the return of capital in the amount of 0.25 euros per share.