Ekter S.a. · ATHEX:EKTER
Ekter — Investor Presentation (July 2025)
43 slides from Ekter's investor presentation, July 2025
Slide 1: Investors Presentation July 2025
Investors Presentation July 2025 1 1
Slide 2: Table of contents
Table of contents 01 Overview 02 The Environment 03 Financial Results 04 ESG 05 The Share 06 Annex 2
Slide 3: Overview
01 Overview
Slide 4: EKTER S.A. at a glance
EKTER S.A. at a glance: A rapidly growing Greek construction company, with unique qualitative characteristics 65+ years of successful €10mn earnings after taxes FY 2024 operations 6th grade construction license €102mn backlog (07.2025) €86mn turnover FY 2024 172 Employees 31.12.2024 4
Slide 5: 65+ years of consistency, credibility and high-quality projects
65+ years of consistency, credibility and high-quality projects 1959 1994 1995 2002 2006 2014 2019 2020 2023 2024 EKTER is Listing in ATHEX Awarded a 6th Aircrafts • Construction of Total value of 5* Hotel • National record in Building complex Acquisition of founded grade maintenance National comple
Slide 6: Strategy focusing on business development and continuous operational improvement
Strategy focusing on business development and continuous operational improvement Vathi Cove Luxury Resort & Spa, Thassos • Stable presence in Public and Private projects • Ongoing growth • Strategic Partnerships • Business Consistency New Intensive Care Unit Wing, 50 Beds, at "Sotiria General Hospit
Slide 7: Business model concentrated in construction, gradually diversified
Business model concentrated in construction, gradually diversified by penetrating construction - related sectors Construction Hospitality Real Estate PPPs Sector Sector Sector Sector • Long track record, highlighting project • 5* Hotel Summer Senses • Construction of new privately owned • Preferred
Slide 8: High specialization and accumulated know-how in a wide portfolio of construction projects
High specialization and accumulated know-how in a wide portfolio of construction projects Buildings and Infrastructure Airports Hospitals Hotels Medical ICU Museums Renovations Equipment 8
Slide 9: The hospitality sector enhances diversification and recurring revenue
The hospitality sector enhances diversification as well as recurring revenue 5★ hotel under development Greece, Paros, Pounda Greece, Paros, Kolympithres Ultra-luxury 5-star unit, on a plot of 328 acres The largest 5-star hotel in Paros 100 Ultra-Luxury Villas / Suites 100 luxury rooms & suites + 4
Slide 10: Pending 7th grade construction license upgrades growth potential
Pending 7th grade construction license geometrically upgrades growth potential MINIMUM CRITERIA STATUS Equity >€44mn Three-year turnover >€88mn Fixed assets >€15mn 7 executives with a Class D Constructors Experience Register (CER) degree or equivalent combination Necessary quality, environmental and
Slide 11: Key Investment Highlights
Key Investment Highlights 01 02 03 04 Strong fundamentals, 65+ years of successful Activity centered on Broad and diversified sound financial structure, presence in the Greek construction portfolio of construction solid capital base. construction sector and presence in hospitality, projects Stable d
Slide 12: The Environment
02 The Environment 12
Slide 13: The Greek economy in a strong momentum
The Greek economy in a strong momentum GDP (%) CPI (%) Unemployment (%) 8.7% 14.8% 9.6% Greece 12.5% 5.7% Eurozone 11.1% 6.3% 10.1% 3.5% 9.30% 2.3% 8.70% 2.3% 2.3% 2.2% 2.7% 2.8% 3.5% 2.3% 1.2% 1.4% 0.9% 0.9% 0.9% 2021 2022 2023 2024 2025* 2026* 2021 2022 2023 2024 2025* 2026* 2021 2022 2023 2024 20
Slide 14: Very positive outlook in all sectors of activity
Very positive outlook in all sectors of activity Public Investment Program New Building Permits ('000) Construction Production Index (€bn) 144.4 16.5 31 14.5 13.3 11.0 11.2 27 9.0 25 24 90.9 2021 2022 2023 2024 2021 2022 2023 2024 2021 2022 2023 2024 2025 2026 Income from Tourism (€bn) Tourists’ Arr
Slide 15: Financial Results
O03 Financial Results
Slide 16: Strong growth and gradual expansion into new activities
Strong growth and gradual expansion into new activities Turnover (€ '000) Turnover Breakdown +272% 86,236 79,070 Hospitality 5% Private projects 25% €86 mn Public 23,158 projects 70% 2022 2023 2024 16
Slide 17: Steadily increasing backlog reinforces positive outlook
Steadily increasing backlog, reinforces positive outlook for the coming years Backlog Breakdown Backlog (€ ‘000) +315% 107,939 102,602 102,201 Private 79,343 Projects 31% €102 mn Public 26,002 Projects 69% 2021 2022 2023 2024 07.2025 1. Backlog includes only signed projects. Projects to be signed ar
Slide 18: Gross margin overperforming sector's average
Prudent selection and effective execution of projects, drive gross margin to overperform sector’s average Gross Profit (€ ‘000) Gross Margin (%) Gross Margin Construction Sector (%) +436% +~560 b.p. +~700 b.p. 15,665 19.1% 18.2% 12,455 15.8% 12.6% 12.0% 2,923 2022 2023 2024 2022 2023 2024 Industry A
Slide 19: Increased gross margin and cost containment lead to surging operating profitability
Increased gross margin and cost containment leads surging operating profitability EBITDA (€ '000) EBITDA Margin (%) EBITDA Margin Construction Sector (%) +814% +~970 b.p. +~450 b.p. 14,118 16.4% 15.2% 15.9% 12,033 ~11,5% 6.7% 1,545 2022 2023 2024 2022 2023 2024 Industry Average (1) EKTER S.A. 1. The
Slide 20: High net profitability and steadily increasing dividend distributions
High net profitability and steadily increasing dividend distributions Profits after tax (€ ‘000) Return on Equity (%) Dividend per share(1) (€) +94% 0.065 +1.485% 33.5% 10,314 8,977 0.050 23.4% 0.033 3.0% 569 2022 2023 2024 2022 2023 2024 2022 2023 2024 1. Adjusted figure based on the current shares
Slide 21: Solid capital structure driven by very low net debt
Solid capital structure driven by very low net debt Shareholder’s Equity (€ '000) Net Debt (€ '000) +136% 44,080 Integration of loan obligations of €11.7m. of “ENERGIAKOS KOMVOS S.A." 4,974 26,780 -2,514 18,662 -12,468 2022 2023 2024 2022 2023 2024 21
Slide 22: Effective working capital management enhances liquidity
Effective working capital management contributes to enhancement of liquidity Net Working Capital (€ '000) Current Ratio (x) 11,153 2.01 1.70 1.61 4,812 2,139 2022 2023 2024 2022 2023 2024 22
Slide 23: Ability to convert net profits into operating cash flows
Substantial ability to convert net profits into operating cash flows, before changes in working capital 13355.916 Out of which €2.7mn refer to distribution of dividends to shareholders and €2.7mn to repayment of loans and interest payments. 15165.135 (13378.234) (76.070) Temporary effect in WC 742.4
Slide 24: ESG
04 ESG
Slide 25: Sustainable development through responsible operations
Sustainable development through responsible operations • Establishment of Energy Policy • Establishment of Sustainability Policy Ε • Environmental Certifications: ISO 14001:2015 / Environmental Management, ISO 50001:2018 / Energy Management • Target to reduce greenhouse gas emissions (GHG emissions)
Slide 26: The Share
05 The Share 26
Slide 27: Valuation at a significant discount versus historical figures and sector
Valuation at a significant discount versus both historical figures and sector’s average Historical EV/EBITDA ΕΚΤΕΡ S.A. (x) EV/EBITDA EKTER S.A. vs Industry (x) Discount ~60% 9.9 9.9 8.3 3.7 3.7 2.8 2021 2022 2023 2024 EKTER S.A Industry Average 1. The industry average includes the average EV/EBITDA
Slide 28: The Share
The Share Number of Shares 26,878,682 Shareholders Structure (%) 2.5 Share Type Common Registered ISIN GRS222213001 2 EKTER (ATHEX) Sipsas Symbols EKTER GA (Bloomberg) Athanasios 20% Indices DOM, FTSEA, FTSE_IN, GD, SAGD 1.5 Share Price Free Float 16.07.2025 €2.085 Polykratis 58% S.A.13% Market capi
Slide 29: Appendix
06 Appendix
Slide 30: Statement of Financial Position
Statement of Financial Position (amounts in €) 31.12.2022 31.12.2023 31.12.2024 ASSETS Own-used tangible fixed assets 1,377,724 1,084,290 32,788,682 Investment property 7,874,500 9,015,500 7,975,500 Right to use assets 254,754 478,558 438,280 Other intangible assets 33,010 37,108 54,195 Investments
Slide 31: Statement of Comprehensive Income
Statement οf Comprehensive Income (amounts in €) 31.12.2022 31.12.2023 31.12.2024 Turnover 23,157,822 79,069,678 86,236,205 Cost of sales (20,234,555) (66,614,580) (70,571,155) Gross margin 2,923,268 12,455,098 15,665,050 Other income 609,436 2,536,065 751,379 Administrative expenses (1,730,804) (2,
Slide 32: Statement of Cash Flows
Statement of Cash Flows (amounts in €) 31.12.2022 31.12.20233 31.12.2024 Cash Flow from Operating Activities Profit (loss) Before Taxes 902,290 11,681,239 12,787,913 Adjustments for: Revaluation of investment properties - (226,029) - Impairment of property, plant and equipment - 243,075 - Impairment
Slide 33: Backlog
Backlog EKTER S.A. (%) PROJECT Backlog Participation (in €) HERAKLION (SUBPROJECT 13) AND RETHYMNO (SUBPROJECT 5) OF THE PROJECT "1. TECHNOLOGY AND RESEARCH INSTITUTE - CENTER FOR INNOVATION AND ADVANCED 100% 12,907,166 EDUCATION" CONSTRUCTION OF A RADIOTHERAPY-CHEMOTHERAPY CENTER AND RENOVATION OF
Slide 34: Landmark infrastructure projects (1/2)
Landmark infrastructure projects (1/2) Gournes – Hersonissos Agia Varvara – Apomarma Sewage Treatment (Northern Crete Road Axis) 25% 25% Features Features Features Region Greece, Crete Region Greece, Crete Greece, Attica, N. Region Peramos Construction Construction 01/2012-09/2021 01/2016-08/2020 Co
Slide 35: Landmark infrastructure projects (2/2)
Landmark infrastructure projects (2/2) Metro Station Egnatia Odos Filothei–Kifissia Networks "Syngrou - Fix" Kouloura - Kleidi 24% 33% Features Features Features Region Greece, Attica, Athens Region Greece, Attica, Athens Region Greece, North Macedonia Construction Construction Construction 01/2011-
Slide 36: Landmark airport infrastructure projects
Landmark airport infrastructure projects Construction of Aircraft Extension of the Terminal Expansion of the Heraklion State Maintenance and Repair Facilities Building of Mykonos National Airport Terminal Building at Athens International Airport Airport 17% 50% Features Features Features Region Gree
Slide 37: Landmark hospital projects
Landmark hospital projects New Military Hospital of Upgrading of the Main Building of Renovations-Extensions Thessaloniki the Patras General Hospital of Mytilene General Hospital 20% Features Features Features Region Greece, Thessaloniki Region Greece, Patras Region Greece, Mytilene Construction Con
Slide 38: Landmark building & renovation projects (1/2)
Landmark building & renovation projects (1/2) Renovation & Modernization of Building Complex for People with New Warehouse, Office and Bank of Greece Building Disabilities, Ellinikon Exhibition Building Sina 16 Features Features Features Region Greece, Athens Region Greece, Athens Region Greece, Att
Slide 39: Landmark building & renovation projects (2/2)
Landmark building & renovation projects (2/2) Construction of National New Office Building of AEGEK New Athens Civil Court Insurance Building Complex Company Features Features Features Region Greece, Athens Region Greece, Athens Region Greece, Athens Construction Construction Construction 01/2003-01
Slide 40: Landmark hotel projects
Landmark hotel projects Ever Eden Beach Resort Hotel Amanzoe Villa Summer Senses Luxury Resort Features Features Features Region Greece, Attica, Anavyssos Region Greece, Argolis Region Greece, Paros Construction Construction Construction 02/2018-06/2019 01/2001-01/2005 01/2017-12/2019 Period Period
Slide 41: Contact Details
Contact Details Apostolos Bakogiannis Kostantinos Sipsas Bouzas Artemios Darzentas General & Technical Manager Chief Executive Officer Investor Relations Officer Nikis 15, Athens, 10557 Τηλ.: 210 3259700 | e-mail: ekter@ekter.gr www.ekter.gr 41
Slide 42: Disclaimer
Disclaimer This presentation may contain forward- looking statements, which are based on estimates and assumptions about expected developments and other factors that affect the company. These estimates are not historical facts and do not constitute a guarantee for the future performance of the compa
Slide 43: Thank you!
Thank you! 43