In the second quarter of 2021, turnover increased by 3.8% to € 200
million from € 193 million in the first quarter of 2021. According to
the company, the Group's EBITDA was positively affected by the
improvement of the RES sector (+ € 4.0 million compared to the 1st 6
months '20), Concessions (+ € 3.7 million compared to the 1st 6 months
'20) and the Environment (+ € 3.1 million compared to the 1st 6 months
'20), while respectively it was negatively affected by the decline in
the performance of the Construction sector (- € 36.7 million compared to
the first 6 months '20).
The liquidity of the Group amounted to € 376 million on 30.06.2021
compared to € 406 million on 31.12.2020. Net borrowing, excluding Morea
(loan without reduction € 438 million and deposits € 28 million),
amounted to € 768 million on 30.06.2021 compared to € 707 million on
31.12.2020.
In detail, the performance per sector of activity was as follows:
- In Concessions, revenues amounted to € 98.2 million in the first 6 months of 2021 compared to € 91.1 million in the first 6 months of 2020 (+ 7.7%) and EBITDA amounted to € 56.7 million in the 1st 6 months of 2021, compared to € 53 million in the 1st 6 months of 2020 (+ 7%)
- In Renewable Energy Sources, revenues amounted to € 51.6 million in the first 6 months of 2021 compared to € 45.1 million in the first 6 months of 2020 (+ 14.4%) and EBITDA increased by 11% and amounted to € 40.7 million in the first 6 months of 2021 compared to € 36.6 million in the first 6 months of 2020, as a result of the increased installed capacity and unaffected by the COVID-19 pandemic.
- In the Environment, revenues amounted to € 55.4 million in the first 6 months of 2021 compared to € 47.3 million in the first 6 months of 2020 (+ 17%) and EBITDA amounted to € 9.9 million in the first 6 months of 2021 against € 6.8 million in the first 6 months of 2020 (+ 45%).
- In Construction, revenues amounted to € 189.4 million in the first 6 months of 2021 compared to € 256.6 million in the first 6 months of 2020 (-26%) and EBITDA amounted to a loss of € 54 million in the first 6 months of 2021 compared to loss of € 17.3 million in the first 6 months of 2020, while the comparable EBITDA amounted to a loss of € 27.9 million, compared to a loss of € 17.3 million in the first 6 months of 2020.
- In Real Estate Development, revenues amounted to € 2.6 million in the first 6 months of 2021 compared to € 3.1 million in the first 6 months of 2020 (-15%) and EBITDA showed a decrease of 24% and amounted to € 1.1 million in the 1st 6 months of 2021, compared to € 1.4 million in the 1st 6 months of 2020 mainly due to the effects of the lockdown.
As stated by the Managing Director of the group, Efthymios Bouloutas
"during the first half of 2021, the main areas of activity of the Group,
except Construction, showed significant growth rates both in terms of
turnover and operating profitability, despite the challenges due to On
the other hand, in the Construction sector, although the turnover in the
2nd quarter was marginally lower than in the 1st quarter, there was a
decline in the turnover and the operating profitability of the semester,
as a result of the gradual In addition, there was an increase in the
results due to the negative outcome of the arbitration for a project in
Qatar. projects worth € 197 million were signed in the Construction
sector during the first half of the year, while after the 30.06.21,
companies in the Construction Sector have been announced bidders in
projects with a total value of € 98 million. With a capital of € 120.5
million, it shields the capital structure and strengthens liquidity,
laying the foundations for profitable growth in all activities ".
