GEK Terna (GEKTERNA) Corporate presentation summary

Strategic positioning and growth

• Diversified infrastructure group with leading positions in concessions, construction, and energy in Greece and Southeast Europe.

• Manages ~2,000 km of motorways, Greece's 2nd largest airport, and major waste/water projects.

• Vertically integrated model enables risk control and maximizes returns across project lifecycles.

• Investment grade ratings from Moody’s (Baa3) and S&P (BBB-) reflect strong asset base and stable cash flows.

• Positioned to benefit from €40-50bn infrastructure investments and significant EU funding in Greece.

Key assets and project pipeline

• Extensive concessions portfolio includes Attiki Odos, Egnatia Odos, Nea & Kentriki Odos, Kasteli Airport, and Hellinikon IRC.

• Motorways portfolio covers about 80% of Greek toll roads, with long-term, inflation-protected contracts.

• Major new projects: North Crete Motorway, water/waste management PPPs, and expansion into public buildings and energy storage.

• Construction backlog at €9.1bn, with €6.6bn signed, supporting long-term revenue visibility.

• Strategic partnership with Motor Oil to create a leading utility company, enhancing energy segment scale.

Financial performance and outlook

• FY 2025 revenues reached €3.86bn (+18.6% y-o-y), adj. EBITDA €631.4m (+56.3%), and net profit €147.3m (+48.1%).

• Concessions contributed 57% of adj. EBITDA, with further growth expected as new projects come online.

• Group adj. net debt at €4.3bn, with 95% project finance; leverage ratio at 0.6x.

• Strong operating cash flow (€556.6m) and disciplined investment approach support future deleveraging.

• Dividend proposal of €0.40 per share for FY 2025, maintaining stable shareholder returns.