AKTOR Group Annual Financial Results 2025

Revenue of €1.4 billion, increased by 11%, driven by growth in Construction and expansion into PPP/Concessions and Facility Management • €207 million pro forma adjusted EBITDA, up from €87 million in 2024 • Strong backlog, with new projects worth €1 billion • LNG sales agreements expected to generate strong revenues from 2030 • Creation of a diversified Holding Group with strong growth momentum

Paiania, April 30, 2026. The AKTOR Group recorded strong financial performance in 2025, which not only confirms but exceeds the estimates presented by the Group’s Management in October 2024, as reflected in the 2025 Financial Statements announced today on Euronext Athens.

In a landmark year in its history, AKTOR Group carried out significant acquisitions, expanding its portfolio across almost all business sectors and implementing notable investments. At the same time, it completed a dynamic, complex, and holistic corporate transformation, leading to the creation of a diversified Holding Group with a new organizational structure and operating model, strengthening vertical integration, corporate governance, and growth potential.

Consistency between words and actions

Commenting on the 2025 financial statements, the Chairman and CEO of AKTOR Group, Mr. Alexandros Exarchou, stated:

“2025 was the year we accelerated our effort to make AKTOR Group large and strong, consistently and decisively implementing everything we committed to 1.5 years ago and delivering performance that exceeds our commitments. We executed a dynamic corporate transformation and fully leveraged market opportunities, both domestically and internationally, with a steady focus on further strengthening our Group. Today, AKTOR Group is a diversified business organization achieving impressive results while securing its future prospects.”

Mr. Exarchou added:

“We now have the healthiest—and one of the largest—concessions portfolios in Greece, which we continue to expand with projects that offer even greater long-term security. Through next-generation projects, we achieved strong net profitability in Construction. In energy, consistent with our plan, we built a strong RES portfolio that will gradually position us as a key player in the Greek and wider regional energy market.

We identified favorable international conditions early and entered the LNG sector, where we are investing strategically. With the trust of our shareholders and the investment community in our vision, we raised significant capital of €340 million in 2025, enabling us to further strengthen the Group with confidence. Our market capitalization, now exceeding €2.2 billion, reflects this effort, confirming the consistency of our strategy and the prospects recognized by the investment community.

At AKTOR Group, we are committed to consistency between words and actions: We commit. We deliver. We secure the future. And we continue working hard, together with our 7,000 employees, to create value for our shareholders and society.”

Key Financial Performance

Sixfold revenue increase since 2022, with strong private sector share and international presence

In 2025, the Group delivered strong results, with revenues rising from €1.255 billion to €1.395 billion, achieving an 11% increase, driven by growth in Construction and expansion into Facility Management and PPP/Concessions. Private sector and PPP revenues accounted for 45% of total turnover, while international activities contributed approximately 25%. The Group’s revenue is now six times higher than in 2022, when Winex Investments entered the company’s share capital.

Pro forma adjusted EBITDA up 137%

In 2025, pro forma adjusted EBITDA (including acquired companies on a full-year basis) rose significantly to €207 million from €87 million in 2024 (+137%).

Excluding one-off non-recurring expenses, recurring earnings before tax reached €41 million, compared to near break-even in 2024 and losses in prior years. Gross profit amounted to €182 million (+47%), while net profit exceeded €15 million compared to €3.7 million in the previous year (+309%).

Strong capital structure

Equity reached €400 million, cash and cash equivalents €324 million, and adjusted net debt stood at €144 million, reflecting a healthy capital structure.

The increase in total net debt to €861 million is attributed to debt transferred through acquisitions in 2025. This debt is serviced by the cash flows of the acquired companies, has maturities beyond 2030, and does not materially burden the parent company (non-recourse basis).

Strong backlog with new projects worth €1 billion

Despite project deliveries, backlog increased to €4.7 billion (from €4.6 billion), supported by new contracts signed in 2025 totaling nearly €1 billion.

Record market capitalization

AKTOR Group’s market capitalization reached €2.2 billion, approximately 10 times higher than in 2022.

Key highlights by business sector

Construction turnaround success story

The construction sector generated €1.289 billion (91% of total revenue) and achieved a strong turnaround, delivering €34 million in profit compared to €9 million losses in 2024. Adjusted EBITDA reached €141 million (+70%).

Strong concessions & PPP portfolio

In 2025, AKTOR completed the acquisition of AKTOR Concessions, expanding its footprint. The Group now holds one of the largest and healthiest PPP and concessions portfolios in Greece, participating in 16 projects, including the €2 billion BOAK concession.

RES portfolio expansion

The Group is developing a strong renewable energy portfolio, including:

• 420 MW solar projects (operational by 2026)
• 100 MW battery storage
• 145 MW wind projects (expected by 2028)

These are expected to generate significant recurring EBITDA, while the total RES pipeline exceeds 1.3 GW, with investments over €1 billion planned through 2028–2029.

Entry into LNG with long-term agreements

In 2025, AKTOR entered the LNG sector, signing:

• A 20-year agreement with ALBGAZ (Albania) for 1 BCM annually (~€6 billion total revenue)
• A 20-year agreement with ALUMINIJ INDUSTRIES (Bosnia & Herzegovina) for 0.5 BCM annually (~€3 billion total revenue)

Additional MoUs have been signed with companies in Bulgaria, Ukraine, and Romania. Total expected EBITDA from LNG agreements is projected to reach €90 million annually by 2030 (~€1.8 billion over 20 years).

Strong growth in Facility Management

The Facility Management sector recorded profits of €7 million (vs. losses in 2024). The Group acquired 55% of Oceanic Group companies and strengthened its presence in the Middle East, with a backlog of €265 million.

Source: pagenews.gr