Ellaktor (ELLAKTOR) H1 2026 earnings summary

Executive summary

• Completed transformation into six operating subsidiaries, each with independent management and targets.

• H1 2026 marked the completion of a corporate transformation, with results presented for continuing and discontinued operations.

• Four main growth pillars: construction, concessions, renewables, and LNG, with construction as the backbone.

• Shareholder returns since 2022 reached 605%, with market capitalization rising from €234 million to €2.6 billion.

Financial highlights

• Turnover reached €649 million, up 44% year-over-year.

• Group revenue from continuing operations rose 27.7% year-over-year to €11.4m.

• Gross profit at €82 million, up 11% year-over-year.

• Pro forma EBITDA at €120 million, up 85% year-over-year, with margin rising to 15%.

• Net loss after tax narrowed to €13.5m from €29.9m in H1 2025, reflecting improved operational performance.

Outlook and guidance

• Second half expected to be strong, with turnover slightly higher due to construction seasonality.

• Affirmed medium-term adjusted EBITDA guidance of €375–425 million, with 65% already secured.

• Long-term EBITDA target of €600–700 million by 2030.

• Alimos Marina project entered pre-construction phase, with construction to begin in 2026.

• Expansion in hospitality expected to further strengthen revenues as new properties reach full capacity.