Slide 1: Full Year 2023 Financial Results
Full Year 2023 Financial Results April 18, 2024 FY’23 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 Sustainable, visible, long-term earnings streams from operations. Construction €700m+ liquidity (as of April 2024), coupled with strong capital ▪ Aktor S.A. sold to Intrakat S.A. for €110.8m (equity) + €114m structure, empower strategi
Slide 4: Contents
Contents. 1. 2. 3. 4. 5. Group Key Financial ESG Appendix Financial & Financial Performance Business Figures by Segment Update FY’23 Financial Results 4
Slide 5: 1. Group Financial & Business Update
1. Group Financial & Business Update FY’23 Financial Results 5
Slide 6: Continuing Operations Financial Highlights FY'23
Continuing Operations Financial Highlights FY’23. 1. Revenue at €387m, -3% YoY. 5. Group Cash & Liquid Assets(2): €521m vs. €364m at the end of 2022. 2. EBITDA at €242m, increased by 46% vs. the same period of last year. Consolidated (C.O. (1) + 6. Group Net Cash & Liquid Assets(2, 3): €308m D.O.) E
Slide 7: FY'23 Group Revenue & EBITDA
FY’23 Group Revenue & EBITDA. (C.O. -€6m, -5%) €m FY'22 FY'23 Δ% Q4'22 Q4'23 Δ% Revenue QoQ (€m) Concessions 269.0 283.0 5% 71.5 75.9 6% C.O. D.O. RES D.O. Constr. Environment 122.5 100.1 (18%) 34.3 25.2 (27%) Revenue Real Estate 9.8 10.4 6% 3.3 2.8 (16%) 305 Other 0.5 1.5 >100% 0.2 0.4 82% 236 224
Slide 8: Segments: Business Update I/II
Segments: Business Update I/II. CONCESSIONS ENVIRONMENT Attiki Odos traffic up 9.5% YoY in 2023, rest of 2023: Signed €51.4m construction & €28.6m O&M motorways under management up 9.2%. projects (pre-emption rights for additional €34.5m). Secured major 30-years road projects in 2023: Preferred bidd
Slide 9: Segments: Business Update II/II
Segments: Business Update II/II. REAL ESTATE CONSTRUCTION (Discontinued Operations) Strong liquidity and financial flexibility enable efficient New contracts (€342m) signed by the closing date of execution of Kambas and Gournes developments. Nov 7, 2023, in Greece & abroad. Following the sale of Sma
Slide 10: 2. Key Financial Figures
2. Key Financial Figures FY’23 Financial Results 10
Slide 11: Consolidated P&L - IFRS 5
Consolidated P&L - IFRS 5. Continuing Operations Discontinued Operations Total €m FY'22 FY'23 Δ% FY'22 FY'23 Δ% FY'22 FY'23 Δ% Net sales 401.2 387.5 (3%) 642.3 421.0 (34%) 1,043.5 808.5 (23%) Cost of Sales* (193.8) (165.0) 15% (600.5) (440.9) 27% (794.3) (605.9) 24% Gross profit 207.4 222.5 7% 41.8
Slide 12: Consolidated P&L
Consolidated P&L. Net Sales LTM (€m) C.O. D.O 1,044 1,029 1,005 €m FY'22 FY'23 Δ% Q4'22 Q4’23 Δ% 969 100 Net sales 1,043.5 808.5 (23%) 304.9 144.0 (53%) 808 Cost of Sales* (794.3) (605.9) 24% (276.6) (107.8) 61% 626 604 576 Gross profit 249.2 202.6 (19%) 28.3 36.2 28% 421 944 Selling & Admin. expens
Slide 13: Consolidated Balance Sheet (IFRS 5)
Consolidated Balance Sheet (IFRS 5). €m Dec.'22 Dec.'23 Δ% €m Dec.'22 Dec.'23 Δ% PPE, Intangible assets & Investment Property 632.6 448.7 (29%) Equity excl. non-controlling interests 827.9 896.6 8% Investment in subsidiaries, associates and joint ventures 203.7 84.0 (59%) Non-controlling interests 8
Slide 14: Group Net Debt Breakdown
Group Net Debt Breakdown. Total Debt (€m) Cash & Liquid Assets (€m) Net Debt (Cash) (€m) 213 49 552 619 601 33 212 406 365 357 213 20 488 (152) 344 407 (308) 389 41 32 31.12.22 31.12.23 31.12.22 31.12.23 31.12.22 31.12.23 Moreas Group x-Moreas Moreas Group x-Moreas Restricted Cash x-Moreas Moreas Gr
Slide 15: Consolidated Cash Flow (IFRS 5)
Consolidated Cash Flow (IFRS 5). €m FY '22 FY '23 Δ% Cash and equivalents at start of period 357.9 413.5 16% CFs from Operating Activities (C.O.) 54.3 73.5 35% CFs from Operating Activities (D.O.) (17.9) (117.5) <(100%) Total CFs from Operating Activities 36.4 (44.0) <(100%) CFs from Investment Acti
Slide 16: 3. Financial Performance by Segment
3. Financial Performance by Segment FY’23 Financial Results 16
Slide 17: Concessions
Concessions. EBITDA up 19% YoY to €180.2m, driven by strong traffic growth (+9.2%) across motorways and improved contributions from Gefyra and Thermaiki assets. Thermaiki Odos claim successfully resolved in 2024, resulting in a €42.5m collection for Aktor Concessions. FY’23 Financial Results 17
Slide 18: Environment
Environment. FY'23 Turnover: decreased 18.3% YoY to €100.1m due to: Closure of Osnabruck and Kalamata operations (negative impact) Lower recyclable selling prices (negative impact) Increased input volumes and gate fees (positive impact). FY'23 EBITDA: reached €14.2m (7.3% YoY decline),due to: Simila
Slide 19: Real Estate
Real Estate. FY'23 Real Estate BU Revenue at €10.4m (+5.5%). FY'23 EBITDA of €61.7m, bolstered by €55.8m in capital gains from asset disposals (Smart Park, Athens Metropolitan Expo, Romania properties). Total current free liquidity position of the Real Estate BU at €61.5m. FY’23 Financial Results 19
Slide 20: 4. ESG
4. ESG FY’23 Financial Results 20
Slide 21: ESG KPIs
ESG KPIs. 400 100 90 0.27 0.24 0.24 0.30 350 26 72 70 300 0.20 250 251 250 196 26 23 0.10 50 200 111 115 150 72 0.00 64 100 46 47 139 -0.10 50 136 124 CO2 eq. emissions 0 Energy 0 -0.20 produced(1) ‘000 t 2021 2022 2023 2023 consumption 2021 2022 2023 C.O. D.O. E Energy consumption Energy consumptio
Slide 22: ESG KPIs
ESG KPIs. S 2023 10,000 26% 27% 40% 2022 0 G 9,000 7,296 7,329 20% 20% 8,000 Confirmed incidents 2021 0% 7,000 5,929 of discrimination 6,000 -20% 5,000 4,081 4,100 1498 1499 1500 S 4,000 3,669 -40% 3,000 -60% 100 2,000 94 C.O. 3,215 3,229 -80% 93 97 1,000 2,260 95 Employees 0 -100% D.O. 90 92 2021 2
Slide 23: 2023 ESG Achievements
2023 ESG Achievements. Identified, assessed and Realized 2 public Enhanced employee disclosed the impact of awareness ESG Achieved ATHEX “ESG volunteer actions in climate-related factors initiatives, with the Transparency Score” of alliance with well on financial participation of more 95% recognized
Slide 24: ESG Ratings
ESG Ratings. Score Rating Scale Rating Agency Comments 2023 2022 2021 (low to high) 6 6 Environment 4 2 1 2 2 2 2 10 - 1 Social 100 Governance 73.1 110 69.9 67.0 ✓ 2nd highest score among the 0 - 100 primarily ASE listed companies (2) 50 79 80 80 60 ✓ 13th out of the 303 Construction & 0 - 100 Engin
Slide 25: EU Taxonomy
EU Taxonomy. Revenues OpEx CapEx C.O. 5% C.O. 6% C.O. 12% C.O. 8% C.O. 41% C.O. 21% C.O. 10% 7% 6% 12% 15% 20% C.O. 36% C.O. 56% 45% 43% 78% 74% C.O. D.O. Aligned (A1) Aligned (A1) Aligned (A1) Eligible, but not aligned (A2) Eligible, but not aligned (A2) Eligible, but not aligned (A2) Not Eligible
Slide 26: 5. Appendix
5. Appendix FY’23 Financial Results 26
Slide 27: P&L by Segment FY'23
P&L by Segment FY’23. Continuing Discontinued FY'23 in €m Concessions Environment Real Estate Other Elimin. Total Operations Operations Net sales 283.0 100.1 10.4 1.5 (7.5) 387.5 421.0 808.5 Cost of Sales* (95.1) (75.3) (0.4) (0.8) 6.5 (165.0) (440.9) (605.9) Gross profit 187.9 24.8 10.0 0.7 (1.0) 2
Slide 28: P&L by Segment FY'22
P&L by Segment FY’22. Continuing Discontinued FY'22 in €m Concessions Environment Real Estate Other Elimin. Total Operations Operations Net sales 269.0 122.5 9.8 0.5 (0.6) 401.2 642.3 1,043.5 Cost of Sales* (99.7) (93.1) (0.7) (0.8) 0.5 (193.8) (600.5) (794.3) Gross profit 169.4 29.3 9.1 (0.3) (0.1)
Slide 29: Net Debt by Segment
Net Debt by Segment. Concessions Real Estate (excl. Group (excl. Moreas (non- 31.12.2023 in € m Environment Other Group (excl. Moreas) Gyalou) Moreas, Gyalou) recourse) Short-term Debt 22.8 6.0 2.5 0.6 31.9 21.0 52.8 Long-term Debt 168.9 11.9 0.0 0.0 180.9 367.7 548.5 Total Debt 191.7 17.9 2.5 0.6 2
Slide 30: Equity, Performance & Shareholders
Equity, Performance & Shareholders. Price, Athens Stock Exchange Comparative Performance, Athens Stock Exchange Shareholders’ structure as of March 2024 3 ELLAKTOR FTASE Index Construction Average x-ELLAKTOR Apr-24, 2.45 2.50 A-24, 1.84 Own Shares Institutional 0.3% 2.5 6.0% 2.00 Retail 2 8.9% Norma
Slide 31: 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 32: Contact
Dimos Revelas Group CFO drevelas@ellaktor.com Andreas Papanagiotopoulos Group Treasurer & 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 8185000 | FAX: +30 2