GEK TERNA: The only profitable group in times of crisis and pandemic
Clean energy and concessions strengthened the group’s EBITDA
“Clean” energy and concessions were the two sectors of GEK TERNA that shielded the group during the years of economic crisis and the era of the pandemic.
This is evidenced by the annual financial results announced by the listed company, and according to market participants, in the last years of the great decline of the construction industry, its wide portfolio not only kept it upright but also boosted its operating profitability.
GEK TERNA, always according to analysts, was the only profitable group of the last decade. In 2020, the listed group, during an unprecedented year due to the pandemic and the restrictive measures taken to deal with it, managed to increase its operating profitability to 306.3 against 285.1 million euros.
The listed company raised its EBITDA, thanks to its 20-year activity in RES electricity generation and concessions. Most of the profitability is due to the power sector from RES, which closed with EBITDA 193.8 million euros and as concerns concessions with 105.2 million euros.
Thus, the group has managed not to depend on the construction sector’s cycles.
GEK TERNA, as commented on by company sources, looks to the future with greater optimism as on the one hand it has an outstanding balance of 3 billion euros and on the other has great expectations from the distribution of the pie for “green” projects and other infrastructure projects that will result from the Recovery Facility and the NSRF.
Among the emblematic projects that the group has in front of it to invest and bring even higher financial performance for the benefit of its shareholders is the project of the integrated tourist complex and casino INSPIRE ATHENS in Elliniko, the future operation of the airport of Heraklion, Crete and two major energy projects of energy storage in Amfilochia and Amari Rethymno.