Ellaktor (ELLAKTOR) Q4 2024 earnings summary

Executive summary

• Group revenue for FY 2024 was EUR 354 million, down 56% year-over-year, mainly due to divestments and the handover of Attiki Odos.

• EBITDA decreased 26% to EUR 170 million, with a margin of 48%; net income fell 33% to EUR 57.4 million.

• Major capital returns to shareholders totaled EUR 470 million over four years, including EUR 174 million in July 2024 and EUR 296 million in March 2025.

• Significant portfolio reshaping included the sale of AKTOR Concessions, Environment and RES assets, and expansion in real estate and hospitality.

• Acquired 10 prime mixed-use buildings in Athens and expanded into hospitality.

Financial highlights

• Group pre-tax profit was EUR 87.8 million, down from EUR 116.3 million in 2023; net income was EUR 57 million (vs. EUR 85 million in 2023).

• Group net cash at year-end was EUR 226 million, down from EUR 308 million.

• Operating cash flow improved to EUR 32.2 million from negative EUR 44 million last year.

• Equity attributable to shareholders stood at EUR 757 million or EUR 2.17 per share, about 50% of total assets.

• Total assets decreased 24% to EUR 1.5 billion, reflecting asset sales and capital returns.

Outlook and guidance

• Focus remains on closing major transactions and providing a strategic update by September 2025.

• Liquidity of EUR 293 million as of December 2024 supports strategic investments and further shareholder rewards.

• Continued participation in PPPs and concession projects, targeting a market over EUR 6 billion.

• Active management of liquidity and monitoring secondary markets for profitable transactions.