Without accurately assessing Aktor’s returning Ellaktor’s manufacturing sector to profitability, the group’s CEO Thymios Bouloutas reiterated its management’s goal of zeroing losses in the coming quarters.
Mr. Bouloutas during a press briefing on the financial results of 2021 presented the improvement of the financial performance of the group and its areas of activity during the last four years, emphasizing the increase of EBITDA to 164.9 million euros from 34.4 million in 2020. According to him, with the rise in operating profitability, the group’s ability to repay interest on loans and development projects is now open. He also argued on the occasion of the claim of important construction projects by Aktor, that there are positive discussions with the domestic banking sector as construction losses are limited.
The bond
The CEO of Ellaktor, however, when asked about the large bond issued by the previous management amounting to 670 million euros and with an interest rate of more than 6%, avoided answering concerning its refinancing, referring to decisions that will be taken by the management based on economic developments in the coming years. The bond expires in 2024.
He had a similar retort, leaving open all possibilities, as concerns the necessity of a possible new capital reinforcement of the group. As he said there are various financial tools that will all be examined. He also noted that the bid for Attiki Odos through the HRADF tender for the extension of the concession contract will find the group with capital adequacy. At this point, Mr. Bouloutas announced that Aktor together with Avax and a foreign partner will claim the concession.
The unfulfilled balance
The CEO of Ellaktor made special reference to the group’s participation and its promotion as a bidder in important construction projects and concessions.
According to him, the unfulfilled balance of the signed and to be signed contracts exceeds 3 billion. euro.
He also set a goal to claim projects from the 13 billion euro pie of the Recovery Fund.
Energy
Mr. Bouloutas also characterized the group’s activity in RES as a cornerstone of Ellaktor’s development strategy.
He reminded that it is the second largest wind power RES generator, through parks with a capacity of 493 MW, while it is aiming by 2025 at the construction and operation of projects with a total capacity of 1.2 GW.
He spoke about the cooperation with the Portuguese firm EDPR and the launch of 496 MW projects in Evia.
στο Google News και μάθετε πρώτοι όλες τις ειδήσειςLatest News
Fitch upgrades Greece to BB+; outlook stable
The ratings firm also listed the outlook as “stable”
Economist political editor Peet: Risk of Turkey moving towards dictatorship
Peet spoke in the wake of a particularly critical cover story focusing on Turkey in the recent Economist issue
Annual consumption of petroleum products in Greece mostly unchanged in 2021 from 2020
Heating oil drops
Rising costs of construction materials threaten Greek real estate sector
The development threatens to dampen or even freeze the construction of all types of new buildings
No confidence vote against Mitsotakis gov’t fails to pass; majority bloc unscathed
Voting against the motion were deputies of center-right New Democracy
Bank of Greece: €3.486 billion increase in funding flow in December
Increase in loans to businesses but not to individuals
In 2023, direct flights from the USA will bring more than 1 billion euros revenues to Greece
So far, 56 flights per week have already been announced from the US and Canada
Morgan Stanley: Continuation of the “rally” of Greek banks
What it predicts for profitability and dividends
Greek PM Mitsotakis’ meeting with the executive director of the ESM
During the meeting special reference was made to the high growth rates, resilience and upward dynamics of the Greek economy
Greek power demand down for sixth straight month
What do the data processed by the Independent Power Transmission Operator show?
