Ellaktor (ELLAKTOR) Q3 2024 earnings summary

Executive summary

• Group revenue for 9M 2024 was €294.1m, down 56% year-over-year due to the sale of the Construction sector in 2023.

• Group EBITDA rose 21% to €160.7m, with EBITDA margin improving to 55% from 20% last year.

• Net profit surged 198% to €75.2m, driven by higher margins and lower costs.

• Continuing operations saw revenue grow 6% to €221.7m and net profit up 35% to €64.1m.

Financial highlights

• Group PBT increased 102% to €102.0m; continuing operations PBT up 31% to €86.9m.

• Operating cash flows were positive at €78m; group net cash stood at €359m as of 30.09.2024.

• Cash and cash equivalents reached €507m, up from €497m at year-end 2023.

• Total equity was €789m (€2.27/share), with €174.1m capital returned to shareholders in 2024.

Outlook and guidance

• AKTOR CONCESSIONS aims to participate in PPP projects with a budget exceeding €6.0bn.

• Real Estate sector expects growth from new hotel and property acquisitions and ongoing development at Alimos Marina.

• Environment sector backlog and new contracts support future revenue streams.