FY 2023 Annual Financial Results
April 23, 2024
Contents
1 | 2 | 3 | 4 | ||||
Overview | Financial Results | Going Forward | Annex | ||||
1Overview
A leading construction group in Greece, with growing footprint in SE Europe
70 | c. €0.8bn |
years of successful | FY 2023 consolidated |
operation | |
turnover* | |
c. €4.9bn | c. 5,800 |
backlog | employees (incl. JVs) |
4
*Pro forma figures refer to FY 2023 Intrakat Group results and annualized Aktor Group results
Diversified portfolio focusing on three strategic pillars
1 2
3
Real Estate Environment
Construction
RES
PPPs / Concessions
Facility Quarrying management activities
• | Extensive know how | • | 20MW installed capacity (EOD |
• | Ability to deliver "turn-key" | 2023) | |
projects | • | 2.7GW total portfolio capacity | |
• | Projects to be executed €4.9bn | • | Strategic partnership with PPC |
Renewables (PPCR) |
- 4 PPPs in operation
- 2 PPPs newly signed within 2023
- 3 PPPs preferred bidder
- More than 20 PPPs in tender
process | ICT |
…aiming at developing a portfolio of high-quality end products as well as to enhance recurring cash flows
Shareholders' Value Maximization
5
Enhancement of recurring income and EBITDA
Solid cash flows
Activity diversification
Synergies through
strategic partnerships
FY 2023 marked by important events, having a profound impact on Intrakat's growth potential
Jan | Mar | |
Acquisition of | ||
Share Capital | ||
Increase | 100% of Aktor | |
€100m | S.A. | |
(pending approval | ||
from competent | ||
authorities) | ||
Jun | Aug | |
Ecomar | Preferred | |
Project | bidder in | |
UAE, budget | RAWEW's | |
€352m | tender for the | |
construction of |
3 energy | |
storage units | |
6 | 100MW power |
Apr
Signing of 2
flagship PPPs:
- Kalamata - Pylos Roadway, budget €239m
- Northern Roadway of Crete (BOAK), budget €189m
Sep
H1 2023
financial results released, with Intrakat reporting solid return to operating profitability
Apr | May | ||
Preferred | Marina | ||
bidder in PPP | Residential | ||
"Student | Tower, budget | ||
Residences of | €350m | ||
University of | |||
Crete", budget | |||
€206m | |||
Nov | Dec | ||
Completion of | Strategic | ||
AKTOR's | partnership | ||
acquisition | with PPCR | ||
2Financial Results
Robust performance unlocks solid return to operating profitability
Group | Group | Group | Group | Backlog | ||||
Turnover | Gross Profit | EBITDA | EAT | €4.9bn | ||||
€412m | €40m | €16m | €3m | (+270% y-o-y) | ||||
(+83% y-o-y) | (+122% y-o-y) | (turnaround from -€3my-o-y) | (turnaround from -€24my-o-y) | |||||
Cash | Equity | Net Debt | Operating | Market Cap. |
€125m | €162m | €123m | Cash Flows | €0.8bn |
(+394% y-o-y) | (+168% y-o-y) | (-3%y-o-y) | €78m | (+210% y-o-y) |
(+429% y-o-y)
8
Note: FY 2023 consolidated figures include FY 2023 Intrakat Group results and Aktor Group financial results for the period 08.11-31.12.2023
Impressive turnaround backed on three major axes
1 | 2 |
Ongoing flow | End of legacy |
of new | backlog, |
projects and | improved |
acceleration | margins |
of projects' |
execution
3
Focus on
profitable
markets, with
growth
potential
9
Remarkable boost recorded in group turnover and gross profit
Turnover (€m) | COGS (€m) | ||||
+83% | 412 | +79% | 372 | ||
225 | 207 | |||
31.12.2022 | 31.12.2023 | 31.12.2022 | 31.12.2023 | |||||
Gross Profit (€m) | Gross Margin (%) |
+122% 40
10%
8%
18
10 | 31.12.2022 | 31.12.2023 | 31.12.2022 | 31.12.2023 | ||||
Note: FY 2023 consolidated figures include FY 2023 Intrakat Group results and Aktor Group financial results for the period 08.11-31.12.2023
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Intracom Constructions SA Technical and Steel Constructions published this content on 23 April 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 23 April 2024 14:36:06 UTC.