Ellaktor (ELLAKTOR) investor relations material

Executive summary

• Completed transformation from construction and energy to a real estate infrastructure group, reducing reliance on the public sector.

• Major asset sales completed: HELECTOR (€114m), Aktor Concessions (€252m equity consideration/€367m enterprise value), Gournes (€40m), Cambas (€45.8m), generating significant cash inflows.

• Expanded into hospitality and prime real estate, including a new hotel, Hestia Luxury Apartments, and a €44m office building acquisition.

• Liquidity at €307m as of December 2025, with a solid capital structure supporting strategic investments and shareholder rewards.

• Returned €646 million to shareholders since July 2024, exceeding current market capitalization.

Financial highlights

• Group revenues for 2025 were €89.2 million, down 75% year-over-year due to business transformation.

• Net profit after tax reached €152.1 million, up from €57.4 million in 2024, driven by €187.3 million in capital gains from asset sales.

• Group EBITDA showed a loss of €11.6 million versus a €170 million profit in 2024; EBITDA margin at -13%.

• Cash and cash equivalents stood at €307 million at year-end, up from €293 million in 2024.

• Equity attributable to shareholders at €438 million (71% of total assets, €1.26 per share).

Capital allocation and financing

• Returned €470 million to shareholders in 2025 through capital return and interim dividend.

• Total borrowings (excluding lease liabilities) reduced to €25.7 million, leaving the group nearly unlevered.

• Active liquidity management generated substantial interest income.

• Outflows for capital return (€296m) and dividend (€174m); inflows from asset sales and time deposit maturities.

• Maintained strong liquidity and flexibility for future investments.