Aktor Societe Anonyme Holding Company Technical and Energy Projects (AKTR) H1 2025 earnings summary

Executive summary

• Group sales rose 16.8% year-over-year to €622.8m, with EBITDA more than doubling to €63.5m and adjusted EBITDA at €65.4m.

• Net profit for the Group increased to €16.7m from €11.2m year-over-year, while the parent company posted a net loss of €13.7m due to absence of prior year one-off gains.

• Major corporate transformation underway, including sector spin-offs and a €200m share capital increase to support growth and liquidity.

Financial highlights

• Group EBITDA surged to €63.5m from €28.5m, and adjusted EBITDA to €65.4m from €30.8m year-over-year.

• Group net borrowings dropped to €54.6m from €144.6m at year-end, and further to €24.9m including committed deposits.

• Group equity at period-end was €381.7m; parent company equity was €311.2m.

• Cash flows from operating activities before working capital changes were €59.9m for the Group, but net cash from operations was negative due to accelerated project execution.

• Share capital increase raised €200m, with 43.5m new shares issued.

Outlook and guidance

• Construction backlog at €3.6bn, with additional €672m in new projects pending signature, totaling €4.3bn in projects to be implemented.

• Strategic focus on five pillars: construction, PPPs/concessions, facility management, real estate, and renewables.

• Enhanced presence in PPPs/concessions with pending acquisition of AKTOR CONCESSIONS, expected to close in Q3 2025.

• Expansion in renewables with acquisitions and new project licenses, targeting at least 1.3GW in new capacity.