Aktor Societe Anonyme Holding Company Technical and Energy Projects (AKTR) H2 2024 earnings summary

Executive summary

• FY 2024 marked a strategic transformation and full-scale turnaround, with revenues surging from €412mn to €1,255mn, driven by the integration of AKTOR ATE, major acquisitions, and accelerated project execution.

• EBITDA rose from €16mn to €89mn, with margins up 300 bps due to cost management, strategic project selection, and operational improvements.

• Net debt increased slightly to €102mn amid higher activity, but capital structure remains robust.

• Expansion beyond construction into real estate, renewables, equity participations, and facility management, supported by a €200mn capital increase and €2bn investment plan.

• Sustainability initiatives included carbon reduction, energy efficiency, and community support.

Financial highlights

• Turnover grew 205% year-over-year to €1.3bn; EBITDA up 456% to €89mn; gross profit up 206% to €124mn.

• Cash at €149mn, equity at €173mn, and net debt at €102mn.

• Market capitalization reached €1.1bn, up 21% year-over-year.

• H2 2024 outperformed H1, with turnover up 35% and gross profit up 43% sequentially.

• Net income to shareholders was €7mn for FY 2024, reversing a loss in FY 2023.

Outlook and guidance

• Corporate transformation to be completed by September 2025, focusing on five strategic pillars: construction, equity participations, real estate, renewables, and facility management.

• Backlog remains near historic highs at €4.8bn as of April 2025, supporting future revenue visibility.

• Targeting a 1.3GW operating renewables portfolio by 2028, with 270MW operational by end-2025 and 700MW under assessment.

• Real estate growth driven by acquisition of Prodea's portfolio, expected to close in Q2 2025.

• Continued focus on ESG, with clear carbon reduction and community value strategies.