Slide 1: Full Year 2024 Financial Results
Full Year 2024 Financial Results April 24, 2025 FY’24 Financial Results 1
Slide 2: Disclaimer
Disclaimer. This presentation has been prepared by ELLAKTOR S.A. The information included in this presentation may be caution readers of this presentation not to place undue (the “Company”). subject to updating, completion, revision and reliance on these forward-looking statements as several amendme
Slide 3: Group Business Update
Group Business Update. Balance Sheet Transformation Transactions €293m Group liquidity (as of Dec 2024) and a solid capital structure, Concessions provide enhanced flexibility for strategic investments and/or shareholder rewards An additional 3.48% stake in Olympia Odos and its operator was acquired
Slide 4: Contents
Contents. 1. 2. 3. 4. 5. Group Key Financial ESG Appendix Financial & Financial Performance Business Figures by Segment Update FY’24 Financial Results 4
Slide 5: 1. Group Financial & Business Update
1. Group Financial & Business Update FY’24 Financial Results 5
Slide 6: Financial Highlights for FY 2024
Financial Highlights for FY 2024. 1. Group Revenue at €354m (C.O. €254m), 56% 4. Group Net Cash(1): €226m vs. Net Cash(1) lower compared to the same period last year. equal to €308m at the end of 2023. 2. Group EBITDA at €170m (C.O. €150m), 26% 5. Equity attributable to shareholders at lower compare
Slide 7: FY'24 Group Revenue & EBITDA
FY’24 Group Revenue & EBITDA. (C.O. -€46m, -59%) €m 12M'23 12M'24 Δ% Q4'23 Q4'24 Δ% Revenue QoQ (€m) Concessions 283.0 249.2 (12%) 75.9 28.5 (62%) Revenue Real Estate 10.4 3.7 (64%) 2.8 3.2 17% 144 Other 1.5 0.9 (41%) 0.4 0.2 (44%) 40 103 101 Eliminations (7.5) (0.1) 98% (0.7) (0.0) 94% 90 25 24 24
Slide 8: Segments: Business Update
Segments: Business Update. CONCESSIONS REAL ESTATE ▪ The €42.5m Thermaiki Odos claim was collected in Feb’24 ▪ Broadened its asset base through the strategic acquisition of ▪ Attiki Odos handed over to the Hellenic Republic 10 prime, mixed-use buildings in Athens (05.10.2024) ▪ Recent expansion to t
Slide 9: 2. Key Financial Figures
2. Key Financial Figures FY’24 Financial Results 9
Slide 10: Consolidated P&L - IFRS 5
Consolidated P&L - IFRS 5. Continuing Operations Discontinued Operations Total €m 12M'23 12M'24 Δ% 12M'23 12M'24 Δ% 12M'23 12M'24 Δ% Net sales 287.4 253.6 (11.7%) 521.1 100.2 (80.8%) 808.5 353.8 (56.2%) Cost of Sales* (89.7) (81.7) 8.9% (516.2) (66.7) 87.1% (605.9) (148.4) 75.5% Gross profit 197.7 1
Slide 11: Consolidated Balance Sheet (IFRS 5)
Consolidated Balance Sheet (IFRS 5). €m Dec.'23 Dec.'24 Δ% €m Dec.'23 Dec.'24 Δ% PPE, Intangible assets & Investment Property 448.7 453.0 1% Equity excl. non-controlling interests 896.6 757.3 (16%) Investment in subsidiaries, associates and joint ventures 84.0 195.2 132% Non-controlling interests 78
Slide 12: Group Net Debt Breakdown
Group(1) Net Debt Breakdown. Total Debt (€m) Cash & Liquid Assets (€m) Net Debt (Cash) (€m) 583 529 55 134 30 195 427 57 357 337 293 15 467 (204) 389 (302) 370 246 32 32 31.12.23 31.12.24 31.12.23 31.12.24 31.12.23 31.12.24 Moreas (non-recourse) C.O. Total Moreas (non-recourse) C.O. Restricted Cash
Slide 13: Consolidated Cash Flow (IFRS 5)
Consolidated Cash Flow (IFRS 5). €m 12M '23 12M '24 Δ% ▪ CF from Investment Activities Cash and equivalents at start of period 413.5 302.9 (27%) ▪ Inflow of €123.5m from the sale of 25% participation in CFs from Operating Activities (C.O.) 64.4 20.2 (69%) ANEMOS RES. CFs from Operating Activities (D
Slide 14: 3. Financial Performance by Segment
3. Financial Performance by Segment FY’24 Financial Results 14
Slide 15: Concessions
Concessions. Revenue QoQ (€m) ▪ Revenue of €249m (vs €283m in 2023) and EBITDA of €167m 76 78 76 (vs €180m in 2023) on the back of Attiki Odos being handed 66 over to the Hellenic Republic in Oct. ‘24 29 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 EBITDA QoQ (€m) 53 57 48 43 8 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 FY’24
Slide 16: Real Estate
Real Estate. Revenue QoQ (€m) ▪ Revenue fell to €3.7m (vs €10.4m in 2023), while losses of €1.4m (vs a profit of €61.7m) were recorded at the EBITDA 3 level, attributed to the divestment of Smart Park at the end of 3 2023 0 - - Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 EBITDA QoQ (€m) 52 1 (1) (1) (1) Q4'23 Q1'
Slide 17: Environment (D.O.)
Environment (D.O.). Revenue QoQ (€m) ▪ Turnover for FY’24 slightly higher by 0.1% to €100.2m, as a 25 28 24 24 blended result of: 23 ▪ Lower input volumes and gate fees in the Larnaca project ▪ A reduced pace of execution of construction contracts ▪ Higher DAM energy prices ▪ Higher recyclable selli
Slide 18: 4. ESG
4. ESG FY’24 Financial Results 18
Slide 19: ESG KPIs
ESG KPIs. E 200 375 1100 150 309 1050 100 1000 1,076 47 47 38 38 50 950 CO2 eq. emissions CO2 eq. emissions 976 produced(1) 0 prevented (2) 900 ‘000 t 2023 2024 ‘000 t 2023 2024 Scope 1&2(3) Scope 3 11 2 1.8 1.5 0.98 2024 221 1 639 GWh 0.5 Intensity(3)0 Energy Energy 2023 223 energy intensity GHG em
Slide 20: ESG KPIs: S and G
ESG KPIs. S G 365 26 Non S 0 Incidents of personal data breaches Employees Employees or non-compliance with GDPR Own Workforce 1,057 137 Female Male Confirmed incidents of corruption, bribery, and conflicts of interest 0 Confirmed incidents of discrimination 0 G Confirmed incidents of severe Human R
Slide 21: 2024 ESG Achievements
2024 ESG Achievements. Included for the first Achieved an ESG Launched the “SDGs time in the national list Transparency Score of 19% reduction of GHGs Coffee Breaks” initiative of “The 50 Most 98% from the Athens emission of Scope 1&2 to raise employee Sustainable Companies Stock Exchange compared t
Slide 22: ESG KPIs: Ratings
ESG KPIs. Score Rating Scale Rating Agency Comments 2024 2023 2022 2021 (low to high) 7 6 6 4 Environment 1 1 2 1 2 2 2 2 10 - 1 Social Governance (1) 98.3 73.1 ✓ 1st highest score among the 110 69.9 67.0 0 - 100 primarily ASE listed companies (2) 50 77 79 80 80 0 - 100 ✓ 20th out of the 325 Constru
Slide 23: EU Taxonomy
EU Taxonomy. Revenues OpEx CapEx C.O. 3.6% C.O. 3.6% C.O. 0.5% C.O. 5.2% C.O. 30.9% C.O. 0.9% 13% 13% 9% 6% 10% 46% 43% 74% 84% C.O. 67.1% C.O. 82.6% C.O. 40.5% C.O. D.O. Aligned (A1) Aligned (A1) Aligned (A1) Eligible, but not aligned (A2) Eligible, but not aligned (A2) Eligible, but not aligned (A
Slide 24: 5. Appendix
5. Appendix FY’24 Financial Results 24
Slide 25: P&L by Segment FY24
P&L by Segment FY24. Continuing Discontinued 12M'24 in €m Concessions Real Estate Other Elimin. Total Operations Operations** Net sales 249.2 3.7 0.9 (0.1) 253.6 100.2 353.8 Cost of Sales* (79.6) (1.7) (0.4) 0.1 (81.7) (66.7) (148.4) Gross profit 169.6 2.0 0.4 (0.1) 172.0 33.4 205.4 Selling & Admini
Slide 26: P&L by Segment FY23
P&L by Segment FY23. Continuing Discontinued 12M'23 in €m Concessions Real Estate Other Elimin. Total Operations Operations** Net sales 283.0 10.4 1.5 (7.5) 287.4 521.1 808.5 Cost of Sales* (95.1) (0.4) (0.8) 6.5 (89.7) (516.2) (605.9) Gross profit 187.9 10.0 0.7 (1.0) 197.7 4.9 202.6 Selling & Admi
Slide 27: Net Debt by Segment
Net Debt by Segment. Concessions Group (excl. Moreas (non- Environment- 31.12.2024 in € m Real Estate Other Group Total Group (excl. Moreas) Moreas) recourse) Held for Sale Short-term Debt 0.0 2.5 (0.0) 2.5 25.7 28.3 6.7 34.9 Long-term Debt 31.1 23.5 0.0 54.6 344.0 398.6 7.8 406.4 Total Debt 31.2 26
Slide 28: Stock Performance & Shareholders
Stock Performance & Shareholders. Price, Athens Stock Exchange Comparative performance vs. FTSE25 Shareholders’ structure as of Apr. 11th, 2025 2.0 220 Executives Own Shares 0.5% 0.2% 1.8 200 Greek Investors 2.1% Retail 9.9% Foreign Investors 1.6 180 2.4% 1.4 160 Atlas NV 9.8% Reggeborgh 1.2 140 Inv
Slide 29: Glossary / Alternative Performance Measures
Glossary / Alternative Performance Measures. NET BEBT EBITDA EBITDA EBIT NET DEBT EXCLUDING LTM MARGIN LEASES (Earnings before Earnings before (Earnings before Total short-term and Net Debt excluding Refers to a period of Interest, Tax, interest, tax, Interest and Tax): long-term borrowings, leases
Slide 30: Contact: ELLAKTOR Headquarters
Dimos Revelas Group CFO drevelas@ellaktor.com Andreas Papanagiotopoulos Group Treasurer & Finance Manager/IRO apapanagiotopoulos@ellaktor.com ir@ellaktor.com ELLAKTOR HEADQUARTERS 25, Ermou St., GR 145 64 Nea Kifissia Athens - Lamia National Road, Olympic Village Interchange Greece TEL: +30 210 8185