Investor interest in construction firms listed on the Athens Stock Exchange remains strong, with the major companies in the sector appearing at the highest levels of the last several years, offering satisfactory returns to shareholders.
The recent reorganizations (acquisitions and sales), the penetration into similar sectors, such as infrastructure, concessions, energy, etc., as well as the prospects of participation in the major project of rebuilding post-war Ukraine, seem to be some of the main catalysts, combined of course with the positive developments in the Greek market.
For example, the share of GEK TERNA stands at the highest level of the past 25 years. Therefore, this year’s gains reach +13.6%, while the company’s valuation exceeds 2.1 billion euros — with the recent sale of Terna Energy acting as a catalyst.
Aktor Group has seen its share climbing +19.3% to 5.8 euros in 2025, which is the best level since the fall of 2009. The ongoing transformation plan, with the creation of five main pillars of profitability (construction, concessions, energy, real estate, facility management), has gained the investors’ trust, as they see the prospects of the listed company.
AVAX share has strengthened by more than +51.9% in the current year, climbing to the highest levels of the last 15 years (2.2 – 2.3 euros), while having one of the most attractive valuations in the sector (P/E below 10x).
Metlen, through METKA, is among the major players in the sector, with the market not ruling out a possible listing of the subsidiary on the ATHEX, in order to highlight the value of the construction portfolio.
At the same time, the smaller EKTER, driven by the prospect of obtaining a 7th grade construction license, has expanded by +21.6% since the beginning of the year, having increased its capitalization to 56 million euros and its backlog of projects to 109 million euros.
The positive prospects of the sector are also reflected in the effort to revive two almost “forgotten” companies. More specifically, BIOTER and Proodeftiki claim that they are in the process of restructuring their balance sheets with the aim of getting back to the market.
The exception that confirms the rule of construction euphoria comes from the share of Domiki Kritis, which has slipped to -21% since the beginning of the year. The reason for the decline is the slow rate of increase in the backlog but mainly the fact that the performance so far has not met the high expectations of the new president Dimitris Koutras.
Construction stock price movements in 2025
• AVAX +51.9%
• Metlen (METKA) +36.9%
• EKTER +21.6%
• Aktor Group +19.3%
• GEK TERNA +13.6%
• Domiki Kritis -21.0%
