Aktor Societe Anonyme Holding Company Technical and Energy Projects (AKTR) H1 2025 earnings summary

Executive summary

• Revenue for H1 2025 increased by 17% year-over-year to €623mn, with EBITDA more than doubling to €65mn and net income rising 46% to €17mn.

• Major corporate transformation underway, including sector spin-offs and a €200mn share capital increase to support growth and liquidity.

• Strong financial position maintained: €246mn in cash, €382mn in equity, and minimal net debt of €25mn.

• Major acquisitions (AKTOR Concessions, ENTELECHEIA, Oceanic Group) on track to close by year-end, supporting recurring cash flow.

• Market capitalization surpassed €1.5bn, reflecting investor confidence.

Financial highlights

• Turnover grew 17% year-over-year to €623mn; gross profit up 45% to €74mn; EBITDA up 112% to €65mn.

• Net income increased 46% year-over-year to €17mn.

• Cash reserves at €246mn as of June 30, 2025.

• Market capitalization reached €1.6bn, up 97% year-over-year.

• Group net borrowings dropped to €24.9mn including committed deposits.

Outlook and guidance

• Backlog of €4.3bn as of June 30, 2025, underpins future revenue.

• Strategic focus on five pillars: construction, PPPs/concessions, facility management, real estate, and renewables.

• Targeting a renewables platform of ~1.3GW by 2028, with 350MW operational and 100MW storage to launch by end of 2025.

• Corporate restructuring to create five independent business lines expected to complete by October 2025.

• Romania now accounts for 22% of group revenue, up from 15% last year.