"AVAX is on the path to a significant recovery of financial results through an effective capital policy, laying the foundations for dynamic claims for projects both in Greece and abroad", as Mr. Christos Ioannou, President of the group, said yesterday during a meeting with journalists.
He predicted that the turnover of 2023 will exceed €500 million. The outstanding balance of signed contracts reaches €2.2 billion, while the value of the portfolio of concessions and PPPs is valued at €400 million, which include the Attiki Odos, the major road projects, the management of waste and parking stations but also the new generation of contracts such as the fly over in Thessaloniki.
Specifically for Attiki Odos, it is estimated that even after the contract expires in October 2024, the highway will continue to generate significant dividend flows and income from return of capital estimated at approximately 150 million euros until 2027. Until 2025 only from dividends, the company estimates that it will collect €30 million annually.
Regarding the important projects completed in the past year, according to the Managing Director of AVAX Group, Mr. Konstantinos Mitzalis, the Group delivered important projects, such as the IGB and the extension of Line 3 of the Metro. Mr. Bizalis also referred to the most important projects under execution, such as Line 4 of the Athens Metro, the FlyOver of Thessaloniki, in the projects in Elliniko the company has taken over the basic infrastructure, (the undergrounding of Posidonos Street is already progressing), while he has expressed interest in participating in other projects such as the construction of the Towers and shopping centers (with the Italian Rizzani).
By the end of March, the tunnel of Line 4 of the Athens metro, from the Katehaki side, will begin to open, the first of the two metropontics brought by the consortium under AVAX. The second subway will start from Veikou Avenue as soon as the issues related to the transfer of utility networks are resolved. In the coming months, work will begin on the first 4-5 stations of the network.
