[REVISION HISTORY]

AKTOR infrastructure and renewable energy expansion

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2026-09-27 10:30 UTC → 2026-10-18 10:44 UTC · added ~~removed~~

AKTOR is transitioning from a traditional construction firm into a diversified infrastructure group, targeting a long-term EBITDA exceeding €600 million. This expansion focuses on concessions, renewable energy, energy storage, the circular economy, and LNG. As part of its energy strategy, AKTOR is developing a renewable energy pipeline of 1,728 MW. As of the first half of 2026, the portfolio includes 197 MW of operational or ready-to-connect projects, with 215 MW in the ready-to-build or construction phase. The company’s renewable energy turnover grew to €4 million in the first half of 2026, up from €2 million the previous year, while adjusted EBITDA rose to approximately €3 million. Additionally, the group is developing an LNG supply chain originating in the United States to serve Southeast European markets. To support an investment program estimated at €3 billion through 2031, the group has raised €950 million through bond issuances and capital increases. In the first half of 2026, the company reported a turnover of €649 million. Reported EBITDA rose by 38% to €91 million, while pro forma EBITDA—accounting for the full integration of acquired companies—increased by 85% to €120 million. CEO Alexandros Exarchou addressed financial stability, noting that total net debt stands at €429 million, or 1.9 times EBITDA. He clarified that if debt related to the Moreas concession is excluded, the leverage ratio falls below 1.0 times EBITDA, with net cash exceeding €700 million. Construction delays have been attributed to common public works challenges, including archaeological finds, design changes, and incomplete expropriations. By October 2026, the group reported an unexecuted backlog of €4.5 billion, providing revenue visibility through 2029, and is targeting an additional €12 billion in new infrastructure and energy contracts.

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