Ellactor Group sales in the first half of 2024 from continuing operations amounted to 144.7 million euros, compared to 136.2 million euros in the first half of 2023, marking an increase of 6%. Earnings before interest, taxes, depreciation and amortization (EBITDA) amounted to 88.9 million euros, approximately at the same levels as in the first half of 2023, (increase of 1%), with an EBITDA margin of 61%.

Profits before taxes (EPT) amounted to 55.7 million euros, compared to 40.9 million euros in the first half of 2023 (a 36% increase).

Net profit amounted to 40.4 million euros compared to profits of 28.7 million euros last year (up 41%).

The positive operating cash flows amounted to 65 million euros, the net liquidity of the group to 458 million euros (on 30.06.2024) against 302 million euros on 31.12.2023. The cash available and immediately liquidable assets of the Group amounted to 644 million euros on 30.06.2024 compared to 497 million euros at the end of 2023.

The Group’s total sales (including discontinued operations amounted to 192.7 million euros, decreased by 56% compared to the corresponding period last year (440.8 million euros), due to the non-integration of the construction sector, the sale of which was completed in 2023.

The Group’s total EBITDA amounted to 99.6 million euros, increased by 18%, compared to the corresponding period last year (84.6 million euros). The Group’s EBITDA margin stood at 52% from 19% last year. The group’s total EBITDA amounted to EUR 65.1 million compared to EBITDA of EUR 29.8 million last year, a year-on-year increase of 118%. The total group net profit amounted to 46.8 million euros compared to 12.9 million euros last year (year-on-year increase of 263%).

Commenting on the financial results of the first half of 2024, its CEO ELAKTORThymios Bouloutas said: “With the completion of the strategic moves of the previous years, ELLAKTOR has now evolved into an Infrastructure Group with stable and predictable long-term cash flows with an emphasis on net after-tax profits.

As a result, the Group’s profitability for the first half of 2024 has improved significantly compared to the corresponding period last year, while the cash reserves are over 640 million euros at the end of the first half.

Within the current fiscal year, we completed the sale of the remaining 25% of ANEMOS RES to MOTOR OIL (MOH) for a price of 123.5 million euros and signed an agreement with the company MANETIAL LIMITED, a 100% subsidiary of MOH, for the sale of 94, 44% of ELEKTOR SA, for a price of 114.7 million euros. The latest transaction is expected to be completed by the end of the year. Based on our planning for the entire year, we estimate that our profitability will be significantly strengthened in the next two quarters.”