Turnover of the Ellactor group is down 55.8% after the sale of activities in the field of renewable energy (renewable energy sources), but also excluding the construction sector, for which there is a sale and purchase agreement with Intrakat. This picture emerges from the analysis of the financial results of the first quarter of this year, where there is another important trend – an increase in profitability precisely due to the non-accounting of construction, which continues to be inefficient.

In particular, based on the data released by the listed company, sales for the first quarter of this year amounted to 90.9 million euros, an increase of 2% compared to the corresponding period last year, but also decreased by 55.8%, due to the fact that that the buildings are now considered a discontinued activity. Including the construction sector, i.e. Aktor, the total revenue will be 205.2 million euros, as construction turnover in the first quarter was 114.3 million euros, which means a drop of 13% year on year.

On the other hand, and this is perhaps the most important thing, the group manages to be more profitable. Gross profit amounted to 50.6 million euros, an increase of 14%. If the production arm had also been calculated, total gross profit would have been capped at 49.4 million euros, representing a 34% year-on-year decline due to a loss of 1.2 million euros compared to a profit of 30.7 million euros for compared to last year. First quarter.

Turnover decreased by 55.8% due to the sale of the APE subsidiary and excluding structures to be sold to Intrakat.

Accordingly, operating profit EBITDA was 44.7 million euros, an increase of 42%, and if losses of 5.4 million euros from construction were added to this, the total result would have decreased by 33%, to 39.3 million euros . This loss is associated with the completion of old and unprofitable projects in Greece and Romania. Somehow the net profit after taxes was 13.2 million euros compared to a loss of 7.1 million euros last year, while if the construction part was included, the profit would have been capped at 2.5 million euro, given the annual decline of 65%.

In this context, the need to enrich the concession sector with new contracts that are easy to mature commercially or generate revenue becomes immediately apparent. One such example, of course, is the new Attica Road concession, which requires mandatory financial proposals to be submitted on 10 July. Actor Concessions is involved in collaboration with Avax and French Meridiam. At the same time, Aktor Perachorises, within the framework of a joint venture with Intrakat (60%-40%), carried out a PPP project for the construction and maintenance of the Kalamata-Rizomilos-Pylos-Methoni road axis, as well as the Hersonissos-Naples section. axes of the northern roads of Crete (GEK TERNA -55%, Aktor Concessions -20% and Intrakat -25%). In addition, the company, in a joint venture with GEK TERNA and Avax, submitted a reference proposal for the Athens I project, which includes the extension of the Attica road network to Lavrio, Rafina and Vouliagmenis streets.

In the first quarter of this year, the revenues of the concession sector increased by 13.5% and amounted to 64.2 million euros compared to 56.5 million euros in the corresponding quarter of the previous year. This increase is due to a 13.4% increase in traffic on the Attica Road, while other motorways also saw an increase of 13.2%. The sector’s EBITDA operating income was €41 million, up 68.5%, while the operating margin was also 64%.