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GEK TERNA: Further strengthening of leading position and financial performance

The Group anticipates significant further strengthening in the coming periods, given its size and its momentum.

GEK TERNA Group’s total revenue climbed to 1,604.3 million euros in the first half of  2023 compared to 1,461.6 million euros in the respective period last year. Operating profitability increased to 250.2 million euros versus 218.1 million euros. Net profits attributable to shareholders adjusted for non-operating results in the first half of 2023 climbed to 54.7 million euros compared to 34.3 million euros the previous year.

The Group anticipates significant further strengthening in the coming periods, given its size and its momentum, while the characteristics of its portfolio ensure high visibility of both cash flows and returns for the shareholders.
More specifically, in the construction segment, given the high backlog of 5.7 billion euros, including the new contracts to be signed, and the Group’s ability to proceed with the uninterrupted execution of the projects, construction activity is expected to remain high in the coming periods and continue to enhance the Group’s profitability. In addition, the prospects of the construction sector in Greece are positive, as in the coming years the budget of the new projects that will go out for tender will exceed 30 billion euros.

In the field of energy production and trading (electricity and natural gas) in Greece and abroad, the Group continues its investment plan without interruption, having now under construction the large hydro pumped energy storage project of 680 MW. Still gradually from the end of this year and within 2024, it is scheduled to start the construction of new parks (mainly photovoltaic) in Greece and SE Europe of more than 550 MW. At the same time, the Group is working towards maturing further projects of various technologies (e.g. hydroelectric, storage, hybrid, etc.) in Greece. In this context the total installed, under construction and ready to build capacity stands at 2,500 MW. In electricity and natural gas trading segment in Greece and abroad, the Group has now established itself as one of the major private energy providers, while its strong presence in the production contributes significant benefits from the verticalization.