Ellaktor is entering a new phase focused exclusively on real estate and tourism, having exited construction, concessions and environmental services as part of a broader strategic transformation.
With a net cash position of 280.5 million euros, the group aims to deploy its liquidity into investments offering more stable returns, with property development and hospitality emerging as its key growth pillars.
The flagship project of the new strategy is the redevelopment of Alimos Marina. The project has secured its final building permit and is now set to move into the construction phase, marking the transition from licensing to implementation for the largest investment currently held in Reds’ portfolio.
The group’s business transformation was largely completed during 2025. Ellaktor sold waste management unit Helector to Motor Oil, finalized the disposal of Aktor Concessions, and completed agreements with Dimand concerning the development of the Gournes and Kamba real estate assets. At the same time, it returned substantial liquidity to shareholders through two capital returns and the distribution of an interim dividend.
The group’s shift toward real estate was reflected in its financial performance. Revenue rose to 18.0 million euros from 3.7 million euros in 2024, while EBITDA turned positive at 4.5 million euros compared with losses a year earlier. Alimos Marina was the main contributor, generating revenue of 13.8 million euros. The results also included, for the first full year, the consolidation of Athens Properties and its subsidiaries.
During the first months of 2026, the group continued to strengthen its property portfolio. Through Landmark Holdings, it acquired an office building on Vasilissis Sofias Avenue in Athens for 44 million euros. It also expanded its hospitality presence with the opening of the The Fiction Athens hotel.
At group level, revenue fell to 89.2 million euros in 2025 from 353.8 million euros a year earlier, reflecting the completion of divestments from its core operating businesses. EBITDA was negative 11.6 million euros, while net profit after tax increased to 152.1 million euros from 57.4 million euros in 2024, supported by capital gains of 187.3 million euros generated from asset sales.
Following resolutions approved at the annual general meeting, Ellaktor will distribute the remaining 2025 dividend of 17.4 million euros, equivalent to 0.05 euros per share. Combined with the interim dividend of 174.1 million euros, or 0.50 euros per share, paid in late 2025, the total dividend for the year amounts to 191.5 million euros, or 0.55 euros per share.
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