According to the technical company, the recent decline is attributed to the suspension of work on the Piraeus port projects and the hotels on Marnis and Ipeirou Streets, due to appeals filed with the Council of State (STΕ).
However, it should be noted that these projects resumed during the current year. Combined with new contracts won through recent tenders—such as the Alexandroupolis Port, the Anavalos project, the Marina of Nafplio project, and a new large-scale project in Thriasio with a total budget of €201 million, expected to commence at the end of 2025 or early 2026—revenues are projected to increase by 35% to 40% in 2025.
The company’s pre-tax profits for fiscal year 2024 amounted to €1,697,326, compared to €1,312,994 in the previous year (2023). Net profits after tax for 2024 reached €1,697,326, up from €1,172,517 in 2023. The company’s equity stood at €26,636,310, while liabilities were €66,321,931, compared to €26,673,022 and €59,955,775, respectively, in 2023.
According to management, "Despite the adverse prevailing conditions in the sector, the company has established and strengthened its position in the domestic market. Additionally, its strategically significant partnerships create a framework for secure further growth."
Specifically, from fiscal year 2024, the company signed contracts of such magnitude that it hopes to repay part of its long-term loans. This objective was achieved within the year; however, the company was unable to improve its liquidity due to significant delays in the execution of these projects. If the outstanding contracts are activated, the company’s immediate and medium-term prospects appear exceptionally promising, supporting its continued strengthening."
