The construction sector continues to offer high returns on the Athens Stock Exchange, as the listed companies continue to take advantage of the projects carried out throughout the country, enhancing their valuations.
Purely construction companies in the domestic capital market amount to five, the combined value of which is estimated at 2.8 billion euros.
The largest one is GEK TERNA followed by Ellaktor (854 million euros), which – after the sale of AKTOR – operates through Concessions and REDS, and of course Metlen (5 billion euros), which has a dynamic presence in the sector through METKA.
As for GEK TERNA, which just recently announced the deal to sell the majority stake in Terna Energy, ensuring a liquidity of around 900 million euros, its stock is recording a 25% rally in 2024, climbing intra-session up to 17 euros, that is, up to the highest levels since 2000. Its value on the stock market is estimated at 1.7 billion euros.
Intrakat’s share, which is now the No.2 company based on the backlog, has gained 10% since the beginning of the year, while in the 12 months the change exceeds +140%. As a result it is valued at 802 million euros and stands at the highest levels since 2009, despite the mini-correction from the high levels of 5.6 euros (intra-session high on 4/3).
An exception to the rule of high returns is the share of AVAX, which has fallen by at least 25%, reducing the company’s capitalization to 200 million euros.
Regarding the smaller Domiki Kritis and EKTER, their shares have recorded a change of +17.5% and +4% in 2024, building a market value of 60 and 47 million euros, respectively.
Bonus METKA + Ellaktor
METKA of the Metlen Group holds a large percentage of the market with a backlog of projects worth 900 million euros at the end of 2023. This has contributed to the determination of the value of the listed company, which today enjoys a capitalization of 5 billion euros, only four euros away from the historical high of 39 euros.
Finally, Ellaktor’s stock reflects a value of 854 million euros on the Athens stock exchange.
The value of the 5 + 2 construction companies on the stock market:
• GEK TERNA 1.7 billion euros
• Intrakat 802 million euros
• AVAX 201 million euros
• Domiki Kritis 60 million euros
• Ekter 47 million euros
• Metlen (METKA) 5 billion euros
• Ellaktor 854 million euros
