“The acquisition of Aktor, which is in a much better position than many may think, creates the basis for a significant improvement in EBITDA, which is expected to increase even more in 2024,” Intrakat’s vice president and CEO, Alexandros Exarchou, said speaking to analysts following the 2023 results.
“2023 marked the improvement of all the Group’s financial performance and the expansion of its footprint in the market. Last year we predicted that in 2023 we would achieve balanced results. We did a little better with a net profit of 3 million euros,” he added and estimated that the 10% of the gross profit margin in the previous financial year will remain in the coming years.
He referred to the sectors of construction, concessions and RES (Renewable Energy Sources) as the main pillars of the Group’s development.
In the Romanian market, the goal is to double the backlog to 2 billion euros, from 1 billion euros now.
The Intrakat Group participates in approximately 20 tenders, with a total budget of 7 billion euros. “We will be happy if we take 20% of this pie,” Exarchou said and added:
“The Group’s capital structure – strong cash flow and low debt – allows Intrakat to finance with its own means investments in PPPs and RES in the foreseeable future.”
At the same time, he noted that the agreement with PPC for the joint implementation of investments in RES reduces the business risk in the volatile field of energy and at the same time increases the development prospects of the Group.
