Greece's GEK Terna posts 84% rise in first-half adjusted EBITDA (updated)

GEK TERNA

10/09/2025 08:19

Adds division details in paragraphs 3-5, backlog in paragraph 6, outlook in paragraph 7

Sept 10 (Reuters) - Greek energy and infrastructure group GEK Terna HRMr.AT reported an 84% year-on-year increase in its first-half adjusted core profit on Wednesday, citing a stronger performance from concessions and increased construction activity.

The group's adjusted earnings before interest, taxes, depreciation, and amortisation (EBITDA) rose to 317 million euros ($371.14 million) for the period ended June, from 172 million euros last year.

The concessions segment's adjusted EBITDA was up 114% to 167 million euros, accounting for 53% of group operating profitability, GEK Terna said.

The increase reflected higher traffic across its motorway network and an 89 million euros adjusted EBITDA contribution from the new Attiki Odos concession, where traffic rose 4.8%. Nea and Kentriki Odos reported a 7.9% rise in traffic, while Olympia Odos was up 3.5%.

Construction revenue rose 41% to 813 million euros, with adjusted EBITDA climbing 49% to 89 million euros, supported by faster project execution.

The group's signed construction backlog expanded to 6.3 billion euros at the end of June, up from 4.1 billion euros at the close of 2024, with nearly half linked to GEK Terna's own investment projects.

GEK Terna also said the improvement in operating profitability is sustainable, citing the growing contribution of concessions, with further gains anticipated as major projects, including Egnatia Odos and Kastelli Airport, come online.

($1 = 0.8541 euros)

 (Reporting by Antonis Pothitos; Editing by Tomasz Janowski, Elaine Hardcastle)

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