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Aktor may raise more than 650 million in capital increase, CEO says

Exarchou said that presentations made by the group’s management in London, Paris and Frankfurt had attracted significant interest from foreign institutional investors in participating in the capital increase

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Aktor Group’s upcoming share capital increase could ultimately exceed the initially announced amount of 650 million euros, Chairman and Chief Executive Officer Alexandros Exarchou said  during the company’s annual general meeting.

Exarchou said that presentations made by the group’s management in London, Paris and Frankfurt had attracted significant interest from foreign institutional investors in participating in the capital increase.

The share issue will run alongside the issuance of a 300-million-euro bond loan, with the aim of financing investments of around 3 billion euros through 2031.

“With these ongoing moves, we are fully completing the effort we launched four years ago to make Aktor big again,” Exarchou said. “I say this with particular emotion: it is no longer a goal. Once the capital increase is completed, Aktor will be the strongest and, by a wide margin, the most financially sound company in Greece and potentially also in Southeastern Europe.”

The group’s CEO also said that Aktor is considering the possibility of listing on the Athens Stock Exchange its renewable energy subsidiary, together with its retail energy business, for which the company is seeking a potential acquisition.

The order book for the capital increase will open on Monday, followed immediately by the process for the bond issuance.

Updated financial targets

Aktor’s management also presented shareholders with updated financial targets, with a key objective being a significant increase in operating profitability alongside a gradual reduction in leverage through disciplined capital management.

In 2025, the group reported revenue of 1.4 billion euros, adjusted EBITDA of 207 million and net leverage of 4.2 times.

Over the medium term, Aktor is targeting revenue of 2.3-2.8 billion euros and adjusted EBITDA of 375-425 million euros, with net leverage expected to range between 3.8 and 4.2 times.

Over the longer term, revenue is expected to stand at 4.5-5.0 billion euros and adjusted EBITDA to 600-700 million euros at least, while net leverage is expected to decline to between 3.5 and 4.0 times.

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