Mevaco’s CEO, Spyros Delendas, who continues to reap the benefits of a dynamic and promising turn-around-story, is about to record another milestone.
The experienced CEO sees the stock market value of the metallurgical company flirting with the psychological threshold of 100 million euros.
To understand the magnitude of the achievement, it is worth noting that the corresponding figure barely exceeded 8 million euros in 2015 and 16 million euros in 2020.
The positive performance is attributable to the systematic recovery of economic figures.
Spyros Delendas sees net profits, from the negative levels of 2018 and 2020, improving to 3.1 million euros in 2022 and climbing to 5.0 million euros in 2024. For the 2025 fiscal year, the final result is predicted to be even more impressive, as a profitability of 7.4 million euros has already been achieved since the first half of the year.
All of the above is a result of the CEO’s strategic choice to capitalize, a few years ago, on the great opportunity in the photovoltaic industry and specifically, in the manufacture of metal bases for panels.
The “made in GR” PVs travel to various corners of the planet, from the United Kingdom to Latin America, constituting the main export product of Mevaco, which for this purpose uses a total of 14 production lines in its privately owned facilities in Aspropyrgos. It is no coincidence that the largest part of the turnover comes exclusively from the construction of PVs.
Spyros Delendas’ business plan is not limited to green energy, but also extends to the defense sector, as in recent years he has signed successive agreements with companies such as Intracom Defence and Naval, which is “running” the contract for the Belharra frigates.
He has also participated in the ambitious project of the Ellinikon, as he has undertaken the contract for the “Riviera Galleria” shelter, a fact which provides the necessary element of diversification of sources of income.
The culmination of the above movements is reflected on the board of the Stock Exchange, where the share is running an impressive rally of +445% in 5 years, +205% in 3 years and +145% in 12 months.
The fact that the valuation is now flirting with the milestone of 100 million euros has led to an “explosion” of scenarios for possible takeover attempts by larger players (although there is currently no specific agreement).
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