Construction company GEK TERNA announced net profits of €68.1 million for shareholders in the first half of 2025, up from €49.8 million in the corresponding period last year. According to the financial statement report published by GEK TERNA for the first half of 2025, earnings per share (EPS) reached €0.68, marking a 22.5% increase.
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It should be noted that the Group had already communicated the key financial figures for the first half through a Flash Note on September 10, with the final results showing no significant deviations. Specifically, total revenues reached €1,957.4 million, showing a 43.6% increase from the previous year, while operating profitability (adj. EBITDA) increased by 84.4% to €317.5 million.
The increase is mainly attributed to the performance of the concessions sector, which was strengthened by the operational launch of Attiki Odos, contributing €89 million to operating profitability. For another semester, traffic growth was recorded across the Group’s highway network. Meanwhile, the construction sector showed revenue growth while maintaining profit margins at consistently healthy levels.
GEK TERNA: €1.464 billion in free cash available at the end of first half
Following the increase in profitability, operating cash flows also recorded significant growth, reaching €219.3 million compared to €93.3 million in the corresponding period of the previous year. The Group’s free cash available at the end of the first half reached €1.464 billion, while total liquidity, following the recent successful issuance of a 7-year corporate bond, amounts to approximately €2 billion. Adjusted net debt (Adjusted Net Debt of the Parent Company) stood at €117 million, compared to €153 million on December 31, 2024.
In the construction sector, the signed backlog as of June 30, 2025 amounted to €6.3 billion, with the Group having signed additional new contracts worth €0.7 billion by September 16, 2025. Approximately 75% of the total backlog relates to private projects and the GEK TERNA Group’s own investment projects.
Regarding prospects for upcoming periods, the Group notes that the increase in operating profitability recorded in the first half is expected to be sustainable, as it primarily stems from the concessions sector with projects securing long-term and stable revenue flows for the Group. Further enhancement is expected gradually with the operation of upcoming concession projects, such as Egnatia Odos, Kastellio Airport, water resource and waste management projects, among others.
