GEK Terna's nine-month profit rises on concessions boost (updated)

GEK TERNA

21/11/2025 08:50

Adds segment details in paragraphs 3-4, outlook in paragraphs 5-6

Nov 21 (Reuters) - Greek infrastructure and energy group GEK Terna HRMr.AT reported a 66.2% jump in adjusted core profit for the first nine months of 2025, driven by a surge in concession revenues.

The group's adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) for the January-to-September period rose to 463.9 million euros ($535.34 million), compared to 279.2 million in the same period last year.

The concessions segment contributed 57% of group adjusted core profit and its adjusted EBITDA more than doubled to 267.3 million euros, supported by higher motorway traffic and the addition of Attiki Odos, which contributed 133.7 million euros.

The construction segment saw its adjusted EBITDA rise 35.7% to 123.4 million euros, as the company's signed backlog expanded to 6.8 billion euros at the end of September, up from 4.1 billion at the close of 2024, with the total backlog reaching 9.2 billion euros.

The Athens-listed group said it expects profitability gains to remain sustainable, supported by long-term concession projects.

Upcoming milestones include the signing of the Egnatia Odos concession by the end of 2025, the anticipated signing of the North Crete motorway concession in early 2026, and progress on its Kastelli Airport and Hellinikon resort projects, it added.

($1 = 0.8666 euros)

 (Reporting by Antonis Pothitos; Editing by Elaine Hardcastle)

 ((antonis.pothitos@thomsonreuters.com; +48 58 769 65 78;))