The Greek stock market, barring an exceptional outlook, is on course to close the year with a rise, completing four consecutive years, with the General Index recording gains of over 70% overall.

Despite the fact that the General Index is up 8.08% since the beginning of 2024 (based on Thursday’s close), more than 55% of stocks are showing a negative return for the current year.

Among the shares of the General Index, the largest increase since the beginning of 2024 is recorded by the shares of Titan (+%72.96), Q&R (+68.42%), Optima (+63.59%), KPI- KRI (+48.75%), GEK TERNA (+35.50%), PPA (+29.31%), Sarantis (+28.40%), Eurobank (+26.71%), of Coca Cola HBC (+25.21.50%) and Terna Energy (+24.59%).

Among the high capitalization stocks, those that stand out since the beginning of the year are the following:

1. Titan: During the third quarter of the year, Titan Group maintained its dynamic course. The strong performance was driven by increased sales volumes and improved price levels, with the US and Greece achieving another quarter of sales growth. In the 9th month, the Group’s sales increased by 4.9% to Euro 1,985 million, with all geographical sectors registering an increase. Net profits increased by 20% in the nine months of 2024 and amounted to Euro238 million. on a comparable basis and earnings per share for the same period amounted to Euro 3.19 million. The process of listing Titan America’s operations on the New York Stock Exchange is proceeding according to schedule. Major milestones have been completed and listing is expected in the first quarter of 2025, and Titan plans to raise at least 500 million. dollar through the listing of a minority stake in Titan America on the New York Stock Exchange. Titan America posted sales of $1.6 billion. dollars in 2023, with EBITDA at 319 million. dollars. The unit contributes nearly 60% of Titan’s total sales.

2. Q&A: One of the IT companies at the center of market interest is Q&R, as according to analysts, it is the “most AI Greek IT company” which is growing at a faster rate than the average of the IT industry in Greece. With the backlog of its contracts exceeding 40 million. euros, plans acquisitions with a “fire” power of 19 million. euros derived from the issuance of a joint bond loan. It is recalled that in 2023, for the entire annual period, the listed company announced revenues of 10.35 million. euros, from 6.45 million euros in 2022, in the semester of 2024 the threshold rose by 59%, to 5.1 million. euros from 3.2 million euros, while, according to analysts, if two acquisitions he is preparing are completed, the figures can double.

3. Optima Bank: Just one year after its listing on the Athens Stock Exchange, Optima Bank enters the high capitalization index (FTSE/XA Large Cap), a result of the bank’s rapid growth and the trust shown to it by investors both in Greece and abroad . In the nine months, Optima Bank had profits after taxes of 108.2 million. (+50%), which is more than it had in all of 2023 (Euro 103 million). The high increase in the bank’s profits was based on strong organic growth, both in deposits and loans, even managing to more than double its figures compared to the corresponding period of 2022. In the 9th month, it strengthened businesses by granting new loans of 1.9 billion . (increased by 30%). This resulted in its loan balances increasing by 1.1 billion. reaching 3.3 billion, equivalent to an increase of 48% compared to the previous year. Deposits reached 4.1 billion, recording an increase of 32%, exceeding 1 billion. in absolute numbers, compared to September 2023.

4. Cree Cree: With total planned investments of 50 million euros, Kri Kri will be launched in the next period of time, with a horizon for their implementation in the period 2025-2027. The 2024 turnover is estimated to reach 245 million. euros, with 50% coming from exports, a percentage that continues to grow. Analysts “see” a strong growth story from Kri Kri. Kri Kri is building its dominance in the Greek market by expanding its footprint abroad (international sales more than 50% of the mix in 2024), thereby strongly increasing volumes (20% in 2024) while improving the mix (e.g. yogurt protein in the European markets, entering the USA through frozen yogurt). In the first half of 2024, Kri-Kri’s turnover amounted to 130,874 million. euros in the 2024 semester, compared to 112,974 million euros of the semester 2023 (+ 15.8%). Net profit after taxes amounted to 26,317 million. euros from 21,191 million euros in 2023. (+24.19%).

5. GEK TERNA: GEK Terna is the largest infrastructure group in Greece, a leader in both concessions and construction. After a strategic shift through the sale of its RES activities, GEK is now well positioned to consolidate its market dominance and enrich its concession portfolio by capitalizing on the booming local infrastructure. The management of the company aims to GEK TERNA to become a dominant force in infrastructure at the European level. GEK TERNA has strengthened its infrastructure footprint by 1 billion through tenders. euros, in sectors beyond traditional transport infrastructure, where the Group has become a protagonist (Attiki Odos, Egnatia Odos, Northern Road ‘Axis of Crete, etc.), while a positive development is characterized by the entry of Latsco, interests of Ms. M. Latsi. In the construction sector, the backlog, including new contracts to be signed, exceeds 5.5 billion. The completion of the sale agreement of the 37% that GEK TERNA controls in TERNA Energy, to the Masdar group has significant benefits for the group, as the cash position will increase by 900 million. euros and the consolidated debt obligations will be reduced by 1.1 billion.

6. PPA: A significant improvement in revenues, which record new historically high performances, PPA records in its financial results for the third quarter of 2024. The company continues its upward trajectory, achieving historically high performances that clearly reflect the successful implementation of its Management’s plans, despite the ongoing challenges it faces. Profit after tax in the quarter was up 9.6% compared to last year, while in the nine months the increase was 6.6% to 70.19 million. Also, revenues reached 174.92 million, up 6.2%. The dividend, at 1.34 euros per share, which was decided by the General Assembly of the PPA shareholders, has increased by 29% and is the highest historically. In 2023, the total revenue for the year amounted to Euro 219.8 million, showing an increase of Euro 25.2 million. or a rate of 12.9%, while profits after taxes amounted to Euro66.8 million, increased by 26.3% compared to Euro52.9 million. of the fiscal year 2022. The above amounts represent the highest performance in the history of OLP S.A., in terms of revenue and profitability, while the Company improves its historical performance for the third consecutive year.

7. Sarantis: Sarantis., a leading consumer products company with a significant and ever-growing international presence, this year completes 30 years since its listing on the Athens Stock Exchange, which took place on July 4, 1994. In its long history, the Group achieved through its strategic development plan to develop and establish itself not only in the domestic but also in the international market, and to be a multinational consumer products company with ever-expanding geographic footprint and leading brands. In a difficult environment, the Group not only managed to establish itself in the region of Central and South-Eastern Europe, but also formed a modern and competitive organization. In 452 million the sales of Gr. Sarantis in the nine months of 2024 against 353.4 million in the nine months of 2023, increased by 27.9%. Earnings before interest, taxes and depreciation (EBITDA) amounted to 63.0 million. euros against 47.8 million euros in the nine months of 2023, increased by 31.7%. Operating profit (EBIT) increased by 29.9% compared to the nine months of 2023 and amounted to 48.1 million. euros (EBIT nine months 2023: 37.0 million euros).

8. Eurobank: Eurobank records strong performance during the nine months of 2024 with the bank announcing a total net profit of 1.135m. euros, increased by 15.8%, which include 99 million profit from the acquisition of an additional stake in Hellenic Bank in the second quarter. Eurobank now aims to increase shareholder reward to 50% or higher of 2024 profits against an initial target of 40%. The “Cypriot” capital of Eurobank (Hellenic Bank), significantly strengthens Eurobank’s prospects, which appear undervalued in disagreement with analysts. In its latest analysis, Deutsche Bank raises its target price for Eurobank (€2.95), making it the top pick from the domestic banking industry, while reporting that it trades on low multiples, a P/E ratio of 5x and a P/ TBV lower than 0.8 times.

9. Coca Cola HBC: Coca Cola HBC delivered another quarter of strong organic net sales growth thanks to the focused execution of our go-to-market strategy throughout the summer season. Organic net sales growth of 13.9% in the quarter and 13.7% in the first nine months of the year, with continued value market share gains in ready-to-drink non-alcoholic beverages and carbonated beverages , in the first nine months of the year. The company’s management for 2024 expects: organic net sales growth in the range of 11% to 13% and organic operating profit growth in the range of 10% to 12%.

10. Terna Energy: Terna Energy is entering a new era after its acquisition by Masdar, a state-owned renewable energy company of the United Arab Emirates. The company recently announced its development plan, which aims for an installed renewable energy capacity of 6GW by 2030. With a strong portfolio of projects in Greece and Europe, Terna Energy is the largest investor in the renewable energy sector in Greece .

The acquisition is expected to play an important role in the development of Masdar’s portfolio in Europe, as it aims for a global installed capacity of 100GW by 2030. It also reflects Masdar’s confidence in the growth prospects of TERNA ENERGY, as well as in the dynamics of the Greek market and the domestic renewable energy sector. A significant increase was shown in the revenues (+42.5%) and the net profitability (+41.0%) of Terna Energy from continuing activities during the first half. The installed capacity at the end of the 1st Semester amounted to 1,224 MW compared to 1,096 MW at the end of the first semester of 2023. The net borrowing position at 30.06.2024 amounted to 776.1 million. against 844.6 million by the end of 2023.