Ellaktor Stock price
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Key metrics
📘 Market Capitalization
📈 What is it?
Market capitalization shows how much a company is currently worth on the stock market.
🧮 How is it calculated?
🏛️ Why is it important?
It helps classify companies by size (Large, Mid, Small Cap) and indicates their market presence and relative stability.
🧮 Calculation
🎯 What does this mean for investors?
- Large-cap companies tend to be more stable, often pay dividends, but may grow more slowly.
- Smaller firms may offer higher growth potential but come with more volatility.
- Market capitalization is a useful indicator of company size — but not a measure of whether a stock is undervalued or overvalued.
📘 Enterprise Value (EV)
📈 What is it?
Enterprise Value represents the total cost to acquire a company — including its debt and excluding its cash reserves.
🧮 How is it calculated?
(= Market Cap + Net Debt)
🏛️ Why is it important?
EV gives a more complete picture of a company's value than market cap alone and is used in key valuation ratios like EV/FCF or EV/Sales.
🧮 Calculation
🎯 What does this mean for investors?
- Enterprise Value shows the true cost of buying a company, including all financial obligations.
- It is more accurate than just looking at market cap, especially when comparing companies with different levels of debt or cash.
- Professional investors prefer EV-based multiples because they better reflect the company’s full financial footprint.
📘 Net Debt
📈 What is it?
Net Debt shows how much debt remains after subtracting a company’s available cash reserves.
🧮 How is it calculated?
🏛️ Why is it important?
It indicates how dependent a company is on borrowed money and how easily it can service its debt in the short term.
🧮 Calculation
🎯 What does this mean for investors?
- Low or negative net debt signals financial strength and flexibility.
- Companies with strong cash positions are better positioned in crises.
- High net debt increases financial risk — especially in environments with rising interest rates or economic downturns.
📘 Cash
📈 What is it?
Cash represents all liquid assets a company can access immediately — including cash, bank deposits, and short-term investments.
🧮 How is it calculated?
🏛️ Why is it important?
It reflects a company’s financial flexibility and resilience — enabling investments, buybacks, or buffer in downturns.
🧮 Calculation
🎯 What does this mean for investors?
- A strong cash position means greater room for maneuver and crisis resistance.
- Cash-rich companies can invest, pay down debt, or repurchase shares.
- But excess idle cash might indicate a lack of growth opportunities.
📘 Shares Outstanding
📈 What is it?
Shares outstanding represent the total number of a company’s shares currently held by investors — excluding treasury stock.
🧮 How is it calculated?
🏛️ Why is it important?
It’s the basis for key metrics like Earnings Per Share (EPS), Market Capitalization, or the Price/Earnings ratio (P/E).
🧮 Calculation
🎯 What does this mean for investors?
- Fewer shares in circulation typically increase earnings per share — making each share more valuable.
- Share buybacks reduce the number of shares and boost per-share metrics.
- Issuing new shares does the opposite — diluting shareholder value and lowering per-share figures.
📘 Price-to-Earnings Ratio (P/E)
📈 What is it?
The P/E ratio shows how many times a company's earnings per share are reflected in its current share price — in other words, how "expensive" the stock appears relative to its profits.
🧮 How is it calculated?
🏛️ Why is it important?
The P/E ratio is one of the most widely used valuation metrics. It helps investors assess whether a stock appears cheap or expensive compared to its earnings power.
🧮 Calculation
📊 P/E (TTM) = Based on earnings from the last 12 months (Trailing Twelve Months):🎯 What does this mean for investors?
- A low P/E may indicate undervaluation — or signal underlying issues.
- A high P/E may reflect strong growth expectations — or an overvalued stock.
📘 Price-to-Sales Ratio (P/S)
📈 What is it?
The P/S ratio shows how much investors are paying for $1 of the company’s revenue – regardless of profitability.
🧮 How is it calculated?
🏛️ Why is it important?
P/S is especially useful for evaluating growth companies or businesses not yet profitable. It reflects how the market values the company’s sales.
🧮 Calculation
Market Cap = €448.47m | Revenue (TTM) = €18.63m
🎯 What does this mean for investors?
- A low P/S may indicate undervaluation — or low profitability.
- A high P/S can reflect strong growth expectations — or excessive optimism.
- Especially helpful when evaluating companies where profits are low, volatile, or negative.
📘 Enterprise Value to Sales (EV/Sales)
📈 What is it?
EV/Sales shows how much investors are paying for $1 of revenue — considering not just equity, but also debt and cash. It’s the capital structure–adjusted version of the P/S ratio.
🧮 How is it calculated?
🏛️ Why is it important?
It’s ideal for comparing companies with different levels of debt. It reflects a company's true cost relative to its revenue.
🧮 Calculation
Enterprise Value = €252.09m | Revenue (TTM) = €18.63m
🎯 What does this mean for investors?
- EV/Sales allows for capital structure–neutral company comparisons.
- A lower ratio may indicate undervaluation; a higher one may signal strong growth expectations or overvaluation.
- Especially helpful when evaluating high-growth companies with low or negative earnings.
📘 Enterprise Value to Free Cash Flow (EV/FCF) | ex SBC
📈 What is it?
EV/FCF compares a company’s enterprise value with its free cash flow. The metric therefore shows the multiple of current free cash flow at which a company is valued. EV/FCF ex SBC additionally accounts for stock-based compensation (SBC). While SBC does not represent a direct cash outflow, issuing shares as compensation can dilute existing shareholders. Therefore, SBC is deducted from free cash flow in this adjusted version.
🧮 How is it calculated?
EV/FCF ex SBC = Enterprise Value ÷ (Free Cash Flow (TTM) − SBC)
🏛️ Why is it important?
EV/FCF provides a valuation based on free cash flow and therefore complements earnings-based valuation metrics such as the P/E ratio. The ex SBC version additionally accounts for the economic impact of stock-based compensation and provides a more conservative view from a shareholder perspective.
🧮 Calculation
🎯 What does this mean for investors?
- A low EV/FCF means that enterprise value is low relative to current free cash flow. The reasons should always be considered in the context of the company and its industry.
- A high EV/FCF means that enterprise value is high relative to current free cash flow. This can, for example, reflect high growth expectations or temporarily weak cash generation.
- When SBC is positive and adjusted free cash flow remains positive, EV/FCF ex SBC is generally higher than the standard EV/FCF.
- The metric is particularly useful for companies with relatively stable and predictable cash flows.
- If free cash flow is negative or very low, EV/FCF has limited usefulness and should not be interpreted like a standard valuation multiple.
📘 Price-to-Book Ratio (P/B)
📈 What is it?
The P/B ratio compares a company’s market value to its book value — showing how much investors are paying for each dollar of net assets.
🧮 How is it calculated?
🏛️ Why is it important?
P/B is commonly used for asset-heavy industries like banks or industrials. It helps assess whether a stock is trading above or below its net asset value.
🧮 Calculation
🎯 What does this mean for investors?
- A P/B below 1 may signal undervaluation — or weak profitability.
- A P/B above 1 implies the market expects future value creation (e.g., brand, IP, growth).
- Best used for companies with tangible assets and strong balance sheets.
📘 Equity Ratio
📈 What is it?
The equity ratio indicates what portion of a company’s total assets is financed by shareholders’ equity – in other words, how much it relies on its own capital.
🧮 How is it calculated?
🏛️ Why is it important?
A high equity ratio reflects financial strength and stability, especially during downturns. It’s a key indicator of a company’s solvency and long-term risk profile.
🧮 Calculation
🎯 What does this mean for investors?
- Companies with high equity ratios are generally more resilient and less dependent on external debt.
- Low equity ratios can signal higher risk or aggressive financial strategies.
- Important: Always assess the equity ratio in combination with the return on equity (ROE). This shows not just how stable the company is – but also how efficiently it uses shareholder capital.
📘 Return on Equity (ROE)
📈 What is it?
Return on equity (ROE) shows how efficiently a company uses its shareholders’ equity to generate profit. In other words: how much net income is earned per dollar of equity.
🧮 How is it calculated?
🏛️ Why is it important?
ROE is a core profitability metric. It helps investors understand whether a company delivers attractive returns on the capital provided by its shareholders.
🧮 Calculation
🎯 What does this mean for investors?
- A high ROE indicates that the company is using its capital efficiently and profitably.
- It’s especially meaningful for capital-intensive businesses or firms with high equity bases.
- Important: A very high ROE can also result from high debt levels – always interpret it alongside the equity ratio to assess financial health.
📘 Return on Capital Employed (ROCE)
📈 What is it?
ROCE measures how efficiently a company generates profits from its total capital – including both equity and interest-bearing debt.
🧮 How is it calculated?
It evaluates the return on all capital employed, regardless of how it’s financed.
🏛️ Why is it important?
ROCE is ideal for comparing companies with different financing structures. It shows how well management uses capital to create value for both shareholders and creditors.
🧮 Calculation
🎯 What does this mean for investors?
- A high ROCE means the company uses its capital efficiently – regardless of whether it's funded by debt or equity.
- The higher the ROCE compared to peers, the more value the company creates with its invested capital.
- Especially relevant for capital-intensive sectors like industrials, energy, or infrastructure.
📘 Return on Invested Capital (ROIC)
📈 What is it?
ROIC measures how efficiently a company generates returns from the capital invested in its core operations – regardless of whether the capital comes from equity or debt.
🧮 How is it calculated?
- NOPAT = Net Operating Profit After Taxes
- Invested Capital = Operating assets minus non-interest-bearing liabilities
🏛️ Why is it important?
ROIC is one of the most accurate indicators of capital efficiency. Unlike return on equity, it is not distorted by leverage and shows how much value is created for all capital providers.
🧮 Calculation
🎯 What does this mean for investors?
- A high ROIC shows how effectively a company uses the capital that is truly invested in its core operations.
- Unlike ROCE, ROIC focuses only on the capital that is actively used to run the business – and that requires a return (i.e. interest-bearing).
- Especially useful when comparing companies with large amounts of excess cash or non-interest-bearing liabilities – giving a more realistic picture of capital efficiency.
📘 Leverage Ratio (Debt-to-Equity)
📈 What is it?
The leverage ratio indicates how much a company relies on interest-bearing debt (such as loans and bonds) relative to its shareholders’ equity.
🧮 How is it calculated?
🏛️ Why is it important?
This ratio helps assess a company’s financial structure and risk profile. High leverage can enhance returns – but also increases exposure to interest rate changes and financial stress.
🧮 Calculation
🎯 What does this mean for investors?
- A low leverage ratio signals financial strength and independence.
- A higher ratio can improve returns in good times but increases risk during downturns or rising interest rate periods.
- 👉 Always interpret in the context of industry, capital intensity, and interest rate environment.
📘 Revenue
📈 What is it?
Revenue shows how much a company earns in total from selling its products and services – the gross income before any costs are deducted.
🧮 How is it calculated?
🏛️ Why is it important?
Revenue is one of the key figures to assess a company’s size, market position, and growth potential.
🧮 Calculation
🎯 What does this mean for investors?
- Growing revenue indicates rising demand and can be an early signal of future earnings growth.
- Comparing actual and expected revenue reveals trends in the market environment and analyst sentiment.
- Note: Strong revenue alone isn’t enough – margins and profitability matter just as much.
📘 EBITDA
📈 What is it?
EBITDA stands for “Earnings Before Interest, Taxes, Depreciation, and Amortization.” It reflects a company’s operating profit before the effects of financing, taxes, and accounting depreciation.
🧮 How is it calculated?
🏛️ Why is it important?
EBITDA is widely used to evaluate a company’s operating performance – especially across capital-intensive sectors or international comparisons.
🧮 Calculation
🎯 What does this mean for investors?
- A high or growing EBITDA indicates strong operational profitability – independent of taxes, interest, or accounting methods.
- It’s especially useful for comparing companies across sectors or geographies.
- Important: EBITDA is not a net income figure – it excludes key costs like depreciation and interest.
📘 EBIT
📈 What is it?
EBIT stands for “Earnings Before Interest and Taxes.” It reflects a company’s operating profit after depreciation, but before interest and tax expenses.
🧮 How is it calculated?
🏛️ Why is it important?
EBIT is a core profitability metric that shows how well the company performs in its main business operations – independent of capital structure and tax environment.
🧮 Calculation
🎯 What does this mean for investors?
- A high EBIT indicates strong profitability from the company’s core business – before financial and tax effects.
- It allows better comparison between companies with different debt levels or tax structures.
- Compared to EBITDA, EBIT already accounts for depreciation and reflects capital intensity more clearly.
📘 Net Income
📈 What is it?
Net income is the company’s total profit – the amount left after all expenses, taxes, interest, and depreciation have been deducted.
🧮 How is it calculated?
🏛️ Why is it important?
Net income is the most comprehensive measure of a company’s profitability – showing how much actual profit remains after all business and financing costs.
🧮 Calculation
🎯 What does this mean for investors?
- Growing net income indicates that the company is managing all of its costs efficiently.
- It directly influences valuation metrics like P/E ratio and the company’s dividend capacity.
- Over time, net income trends reveal how resilient and profitable the business model really is.
📘 Free Cash Flow (FCF) | ex SBC
📈 What is it?
Free cash flow shows how much cash remains after a company has covered its operating and capital expenditures. FCF ex SBC additionally deducts stock-based compensation (SBC) to adjust the cash flow for the effect of non-cash SBC.
🧮 How is it calculated?
Free Cash Flow ex SBC = Operating Cash Flow − SBC − Capital Expenditures (CAPEX)
🏛️ Why is it important?
FCF reflects a company’s actual financial strength – independent of reported accounting earnings. It shows how much flexibility a company has for dividends, share buybacks, or debt reduction. FCF ex SBC also deducts stock-based compensation and shows how much cash generation remains after SBC.
🧮 Calculation
🎯 What does this mean for investors?
- High free cash flow indicates that a company has strong financial strength – independent of reported earnings.
- It is often a solid basis for sustainable dividends and share buybacks.
- Declining FCF can be a warning sign, even if reported earnings remain stable.
📘 Revenue Growth
📈 What is it?
Revenue growth shows how much a company’s sales have changed compared to the previous year – both on a trailing basis (TTM) and based on forward projections.
🧮 How is it calculated?
Forward = (Expected revenue ÷ Revenue in prior year − 1) × 100
Forward growth is based on analyst estimates for the current fiscal year.
🏛️ Why is it important?
Rising revenue signals growing demand, business expansion, and market share gains – especially important for growth-oriented companies.
🧮 Calculation
🎯 What does this mean for investors?
- Growth is the engine of long-term value creation – especially in tech and growth sectors.
- What matters is not just current growth, but its sustainability.
- Forward projections reflect whether analysts expect continued momentum – or a slowdown.
📘 EBITDA Growth
📈 What is it?
EBITDA growth shows how much a company’s operating profit (before interest, taxes, depreciation, and amortization) has increased or decreased compared to the previous year.
🧮 How is it calculated?
Forward = (Expected EBITDA ÷ EBITDA from prior year − 1) × 100
The forward estimate is based on analyst projections for the current fiscal year.
🏛️ Why is it important?
Growing EBITDA indicates improving operational profitability – regardless of financing or accounting effects.
🧮 Calculation
🎯 What does this mean for investors?
- Strong EBITDA growth signals operational efficiency and scalability – especially during growth phases.
- EBITDA growth can be an early indicator of margin and earnings expansion – but should be assessed alongside revenue and EBIT.
📘 EBIT Growth
📈 What is it?
EBIT growth shows how much a company’s operating profit (after depreciation, but before interest and taxes) has increased compared to the previous year.
🧮 How is it calculated?
Forward = (Expected EBIT ÷ EBIT from prior year − 1) × 100
The forward estimate is based on analyst projections for the current fiscal year.
🏛️ Why is it important?
EBIT growth is a direct indicator of a company’s business performance – taking into account capital intensity through depreciation.
🧮 Calculation
🎯 What does this mean for investors?
- Rising EBIT signals improving operating profitability – even after accounting for depreciation.
- It’s especially important for evaluating companies with significant capital expenditures.
- Combined with revenue and EBITDA growth, EBIT growth provides a well-rounded view of operational progress.
📘 Net Income Growth
📈 What is it?
Net income growth shows how much a company’s bottom-line profit has increased or decreased compared to the previous year – both on a trailing basis (TTM) and based on analyst projections.
🧮 How is it calculated?
Forward = (Expected net income ÷ Net income from prior year − 1) × 100
The forward estimate reflects analysts’ expectations for the current fiscal year.
🏛️ Why is it important?
Net income is the ultimate measure of profitability. Growing net income signals stronger efficiency, cost control, and sustainable earnings power.
🧮 Calculation
🎯 What does this mean for investors?
- Stronger net income boosts valuation, dividend potential, and investor confidence.
- If profits stall while revenue grows, it may signal margin pressure.
📘 Free Cash Flow Growth
📈 What is it?
Free cash flow (FCF) growth shows how a company’s available cash – after covering operating expenses and capital expenditures – has changed compared to the previous year.
🧮 How is it calculated?
🏛️ Why is it important?
Free cash flow reflects real financial strength. Growing FCF indicates more flexibility for dividends, share buybacks, and reinvestment.
🧮 Calculation
🎯 What does this mean for investors?
- Declining FCF may point to rising investments, increasing costs, or weaker operating performance.
- Especially for dividend investors, FCF growth is critical – since dividends are paid from actual available cash.
- A negative trend isn't always bad, but it deserves closer attention.
📘 Gross Margin
📈 What is it?
Gross margin shows how much of a company’s revenue remains after deducting the direct costs of goods sold (like materials and production). It represents the company’s “raw profit” before fixed costs, taxes, and interest.
🧮 How is it calculated?
Or simply: Gross Margin = Gross Profit ÷ Revenue × 100
🏛️ Why is it important?
Gross margin indicates how efficiently a company can produce or procure what it sells. It is a key measure of product-level profitability and pricing power.
🧮 Calculation
🎯 What does this mean for investors?
- A high gross margin suggests strong pricing power and efficient production.
- Falling margins may signal rising input costs or competitive pressure.
- Compared to peers, gross margin offers insights into the quality of a business model.
📘 EBITDA Margin
📈 What is it?
The EBITDA margin shows how much of a company’s revenue remains as operating profit before interest, taxes, depreciation, and amortization.It reflects operating efficiency without being distorted by financing or accounting factors.
🧮 How is it calculated?
🏛️ Why is it important?
The EBITDA margin reveals how much operating income a company generates per dollar of revenue – independent of capital structure and tax effects.
🧮 Calculation
🎯 What does this mean for investors?
- A high EBITDA margin reflects strong core profitability – before accounting distortions.
- It allows for effective comparisons across companies and sectors.
- A stable or growing margin signals efficient cost control and business scalability.
📘 EBIT Margin
📈 What is it?
The EBIT margin shows what percentage of revenue remains as operating profit after depreciation but before interest and taxes.
🧮 How is it calculated?
🏛️ Why is it important?
The EBIT margin reflects a company’s core profitability while accounting for capital intensity (e.g. machinery, infrastructure). It’s especially useful for comparing businesses with different levels of depreciation.
🧮 Calculation
🎯 What does this mean for investors?
- A high EBIT margin shows that the company remains efficient even after factoring in depreciation.
- It’s especially relevant for capital-intensive industries.
- Stable or rising EBIT margins over time are a strong indicator of pricing power and business quality.
📘 Net Margin
📈 What is it?
Net margin shows how much of a company’s revenue remains as bottom-line profit after deducting all costs, interest, taxes, and depreciation.
🧮 How is it calculated?
🏛️ Why is it important?
Net margin reflects a company’s overall efficiency – across operations, financing, and taxation. It shows how much actual profit is generated from each dollar of revenue.
🧮 Calculation
🎯 What does this mean for investors?
- A high net margin means the company is not only strong operationally but also manages financing and taxes efficiently.
- Peer comparisons reveal business quality and competitiveness.
- Declining margins despite revenue growth can be a red flag for rising costs or inefficiencies.
📘 Free Cash Flow Margin | ex SBC
📈 What is it?
The Free Cash Flow Margin shows how much free cash flow a company generates relative to its revenue. In simplified terms, free cash flow is calculated as operating cash flow minus capital expenditures. The Free Cash Flow Margin ex SBC additionally accounts for stock-based compensation (SBC). While SBC does not represent a direct cash outflow, issuing shares as compensation can dilute existing shareholders. Therefore, SBC is deducted from free cash flow in this adjusted metric.
🧮 How is it calculated?
Free Cash Flow Margin ex SBC = (Free Cash Flow − SBC) ÷ Revenue × 100
🏛️ Why is it important?
The Free Cash Flow Margin shows how efficiently a company converts its revenue into free cash flow. Strong free cash flow can provide financial flexibility for dividends, share buybacks, debt repayment, or further investments. The ex SBC version additionally accounts for the economic impact of stock-based compensation and therefore provides a more conservative view of cash generation from a shareholder perspective.
🧮 Calculation
🎯 What does this mean for investors?
- A high Free Cash Flow Margin shows that a company converts a high proportion of its revenue into free cash flow.
- This can provide greater financial flexibility for dividends, share buybacks, debt repayment, or investments.
- The Free Cash Flow Margin ex SBC additionally accounts for potential shareholder dilution from stock-based compensation.
- The long-term trend is particularly important. Declining margins can, for example, result from higher investments, changes in working capital, or weaker operating performance.
📘 Earnings per share (EPS)
📈 What is it?
Earnings per Share (EPS) shows how much profit is attributable to a single share – and is one of the most important metrics for evaluating a company's performance.
🧮 How is it calculated?
The diluted share count reflects potential new shares that could be issued through options, convertible bonds, or other rights.
🏛️ Why is it important?
EPS is the basis for many key valuation metrics like P/E ratio, PEG ratio, or payout ratio. It enables comparisons of profitability across companies, regardless of their size.
🧮 Calculation
🎯 What does this mean for investors?
- EPS captures per-share profitability and is especially useful for comparisons over time or with analyst estimates.
- Rising EPS may signal consistent growth or share buybacks.
- Important: Always use diluted EPS for more realistic valuations – especially in companies with stock-based compensation.
📘 Free cash flow per share (FCF per share)
📈 What is it?
Free Cash Flow per Share shows how much free cash flow a company generates per outstanding share – after investments, but before dividends or debt repayments.
🧮 How is it calculated?
Free cash flow is calculated as operating cash flow minus capital expenditures (CapEx).
🏛️ Why is it important?
FCF per Share reveals how much real cash is available per share – useful for dividends, buybacks, or reducing debt. Unlike net income, free cash flow is harder to manipulate and often seen as a more reliable metric.
🧮 Calculation
🎯 What does this mean for investors?
- High FCF per share signals strong financial flexibility.
- It shows how much capital the company can effectively reinvest or return to shareholders.
- Particularly relevant for dividend payers and capital-efficient businesses.
📘 Short interest
📈 What is it?
Short interest indicates how many shares of a company are currently sold short – that is, borrowed and sold by investors who expect the price to decline.
🧮 How is it calculated?
It reflects the percentage of a company’s shares that are being shorted relative to the total shares available.
🏛️ Why is it important?
Short interest serves as a sentiment indicator: A high value may signal skepticism or bearish expectations – but also increases the potential for a short squeeze if prices rise unexpectedly.
🎯 What does this mean for investors?
- Low short interest usually indicates market confidence in the company.
- High short interest can be a warning sign – or an opportunity if sentiment shifts.
- Especially relevant in volatile markets or ahead of key earnings releases.
📘 Employees
📈 What is it?
The employee count shows how many people a company employs worldwide – offering insights into its size, structure, and business model.
🧮 How is it calculated?
🏛️ Why is it important?
It helps assess operational scale, labor intensity, and cost structure. Combined with revenue and profit, it enables key metrics like revenue per employee or productivity.
🧮 Calculation
🎯 What does this mean for investors?
- A high headcount can signal operational complexity – but also significant growth capacity.
- Revenue per employee is a key indicator of efficiency.
- Especially useful for comparing tech, industrial, or service-heavy companies.
📘 Revenue per employee
📈 What is it?
Revenue per employee indicates how much revenue a company generates on average per employee – a key measure of efficiency and productivity.
🧮 How is it calculated?
The employee count is typically taken from the most recent annual report.
🏛️ Why is it important?
This metric helps compare business models – especially between labor-intensive and technology-driven companies. A high value suggests automation, operational efficiency, or strong value creation per head.
🧮 Calculation
🎯 What does this mean for investors?
- A high revenue per employee indicates a scalable and margin-strong business model.
- A low figure may reflect labor-intensive operations or lower value-add.
- Especially helpful when comparing tech companies to industrial or service sectors.
Ellaktor Stock Analysis
Analyst Opinions
9 Analysts have issued a Ellaktor forecast:
Analyst Opinions
9 Analysts have issued a Ellaktor forecast:
Ellaktor Events
Past Events
|
APR
20
Q4 2025 Earnings Call
6 months ago
|
StocksGuide Free
Ellaktor — Q4 2025 Earnings Call
1. Management Discussion
Ladies and gentlemen, thank you for standing by. I am Gelly, your Chorus Call operator. Welcome and thank you for joining the Ellaktor Group conference call and live webcast to present and discuss the Ellaktor's Group full year 2025 results. [Operator Instructions]
The conference is being recorded. [Operator Instructions] At this time, I would like to turn the conference over to Mr. Efthymios Bouloutas, CEO Ellaktor Group, and Mr. Dimosthenis Revelas, CFO Ellaktor Group. Mr. Revelas, you may now proceed.
Thank you. Good afternoon and welcome to Ellaktor's conference call for 2025 results. Our annual report for 2025, the press release announcing Ellaktor's financial and operating results for the year as well as a presentation were issued last Friday, all are available on the IR section of our website.
In our call today, we will share with you a business update and a review of our financial results and ESG performance. A Q&A session will then follow. Allow me now to turn over the floor to Mr. Bouloutas.
Thank you very much, Dimo. It's my turn to thank you for participating in Ellaktor's 2025 Annual Results Analysis and Presentation. I will follow the presentation that has been uploaded on Friday in our site. And I will cover the group business update and the basic financial results for 2025.
Now 2025 was a pivotal year for Ellaktor that marked our transformation from a predominantly construction, [ DAS Energy, DAS Concessions ] and Waste Management Group to a real estate infrastructure group with significantly less dependence and reliance on public sector.
We managed to complete all of the transactions that we have earmarked, i.e., we completed the sale of Helector to Motor Oil in January 2025, following the SPA that has been signed in July '24 for a consideration of EUR 114 million. On the real estate, we completed the Gournes sale to DIMAND in September '25 and the Cambas sale to DIMAND again in February 2026. In total, the 2 transactions totaled for approximately EUR 86 million.
Now as you know, we have signed an SPA with Aktor Group in April 2025 for the sale of Aktor Concessions for an enterprise value of approximately EUR 367 million. Following the approval by the Hellenic Capital Market Commission, the financial closing was completed in September '25 with a final equity consideration of EUR 252 million.
Now all this has brought a tremendous balance sheet transformation and the possibility with the cash that we had available for significant shareholder returns. So all in all, we managed to return in December 2025 and March '25 in total a total dividend, actually, it was a capital return, of EUR 470 million, approximately the size of our current market capitalization. Since July 2024, i.e., in less than 24 months, we have returned back a total of EUR 646 million, which amounts to EUR 136 million of our current market cap.
That has left it -- we are still -- we still have an active group liquidity of approximately EUR 307 million as of December 2025 and a very solid capital structure, repaid almost all of our loans. Now in terms of new businesses, we have expanded in the hospitality sector through a 25-year lease of the Fiction Athens, which is a new hotel, 40 key upside -- upscale city hotel on Kifissias Ave, starting -- which opened in March '26. We acquired in late 2024, in December 2024, 10 yielding assets, the Hestia Apartments comprising of serviced apartments targeting short to midterm stays, strengthening the recurring income visibility.
So 2025 has been our first full year of integration of this in our platform. And finally, in March '26, we acquired from Prodea Investments, a fully leased office building of 8,500 square meters in Vasilisis Sofias Ave for EUR 44 million, enhancing our exposure to prime real estate. Finally, our landmark project, which is Alimos Marina. The development is underway. We have filed all the required paperwork and relevant feasibility studies and expect the final licensing of both the seaside and the land part in the coming months. We expect to commence construction during 2026 with an approximate 24- to 30-month completion time line.
Moving on to Page #6, which presents the financial highlights for the year. Here, I'd like to point out that group revenues for the full year amount to EUR 89 million, out of which approximately EUR 19 million derived from the continuous operations compared with EUR 354 million in 2024. So we have seen a decrease of approximately 75%. However, all of that is due to the transformation that I just mentioned. Net profit after tax amounted to EUR 152 million compared with EUR 57.4 million in 2024, and that includes, obviously, capital gains of EUR 187.3 million from the completed transaction.
Group EBITDA amounted to losses of EUR 11.6 million compared with profits of EUR 170 million in 2024. We discussed the cash and cash equivalents, which stood at EUR 307 million approximately compared with EUR 293 million as of 31st of December of 2024. Now total equity amounted to approximately EUR 487 million compared to approximately EUR 777 million in the end of 2024, while equity attributable to majority shareholders amount to EUR 438 million, which amounts to approximately EUR 1.26 per share. The decrease is mainly due to the capital returns of EUR 0.85 per share in March '25 as well as the distribution of the interim dividend for '25 amounting to approximately EUR 0.50 per share in December 2026.
Finally, our total borrowings as a group, excluding the lease liabilities amount to less than EUR 26 million, effectively fully deleveraged the group. And with this overview, I'd like to turn on the call to Mr. Dimosthenis Revelas, CFO of our group, to give you more details about our consolidated P&Ls, the balance sheet and the cash flows.
Thank you, Efthymios. Let us go through briefly over the next slides as the main financial items have already been mentioned.
Moving on to Page 8. We present a snapshot of our P&L broken down into continuing and discontinued operations in a more extended form. Operating level, losses of EUR 46 million in continuing operations were partly offset by an EBITDA of EUR 34.4 million in discontinued operations, thus yielding a consolidated operating loss of EUR 11.6 million. The bottom line, though, was positively impacted by significant EUR 187 million capital gain emanating, as already mentioned, from the sale transactions of Aktor Concessions and Helector.
On the next slide, I mean, the 2 main comments are that following the shareholder rewards totaling EUR 470 million in 2025, i.e., the capital return of EUR 296 million plus the interim dividend of EUR 174 million, the total equity attributable to shareholders as at year-end amounted to EUR 438 million. This is EUR 1.26 per share. The group remains practically unlevered, which coupled with a solid liquidity position provides increased flexibility in assessing various investment initiatives.
The group's net cash is presented in the next slide. While in the appendix, you can also discover in more detail the breakdown of the group's net debt or net cash position on a segmental basis -- on segment by segment.
On Page 11 -- on Slide 11, we highlight the key flows of the year, which again are mostly linked on one hand to the inflows realized from the executed transactions and on the other to the payouts to shareholders. Allow me now to present an overview of our ESG performance and credentials, which demonstrates the group's steady progress in integrating ESG principles across its operations, supported by the strong performance and continuous improvement.
On Slide 13, ESG KPIs and starting with the environment pillar, total greenhouse gas emissions amounted to 1,000 tonnes of CO2 equivalent with 62% corresponding to Scope 1 and 38% to Scope 2. Total energy consumption reached out 4,000 megawatt hours of which 23% originated from renewable sources.
From a social perspective, women are represented at a rate of 39%. No incidents of human rights violations were recorded, underscoring our commitment to ethical conduct and respect for human rights. With regard to governance, no cases of data breaches, GDPR noncompliance or incidents of corruption or bribery were recorded.
On the next slide, that is Slide 14, we highlight some key achievements that were important to -- that are important to note in the course of 2025. The group achieved a 95% ESG Transparency Score from the Athens Exchange and maintained an A ESG score from Synesgy for the second consecutive year. The group was also recognized among the 50 most sustainable companies in Greece.
Our climate near-term targets were validated by the science-based targets initiative, while we received a B rating from CDP for climate disclosure. On the social side, we implemented a group-wide human rights training program and strengthened employee engagement through various internal initiatives. We also continue to support environmental education in public schools through the GREEN FUTURE program.
On the rating slide that on the next slide, Slide 16, the group continues to perform strongly across major international agencies. Bloomberg ESG disclosure score reached 98.8 in 2025, showing significant improvement in recent years. LSEG ranks the group 16th out of 338 companies in its sector, while Sustainalytics places it -- places us, Ellaktor, in 77 (sic) [ 57th ] spot out of 353. Our S&P Global ESG score has improved to 55, significantly above the industry average. And FTSE Russell assigns a score of 4.3 out of 5, placing us in the 97th percentile globally.
On Page 16, EU taxonomy 20% of our consolidated revenues are aligned, while with a larger share eligible but not yet aligned. While OpEx alignment remains limited, CapEx shows strong performance with 44% already aligned. This highlights our strategic focus on directing investments towards sustainable activities.
This concludes our presentation for 2025, and I would now like to open the floor for any questions you may have. Thank you.
[Operator Instructions] The first question is from the line of Katsios Nestoras with Optima Bank.
2. Question Answer
Just a couple of questions from my side. The first one has to do with the outlook for 2026. I can understand that the contribution from the hotel will commence from this year. So is it fair to assume that you will be breakeven at profitability, perhaps EBITDA or bottom line this year with the contribution from the hotel? And the second question on the dividend. We didn't hear anything -- any comments for the remaining dividend. Could you please give some color on your intention for the final dividend?
Thank you very much. Answering the second question, the dividend proposal, obviously, it's a Board of Directors' decision, which will be directed to the general assembly of the company that will happen sometime in the next couple of months. So we cannot preempt the Board and their decisions. Regarding the hotel and the financial results of the company, I think it's too early in the year in order to make forecast for the full year. I think it would be fair to let at least the first semester pass by, and then we can update you on that.
[Operator Instructions] Ladies and gentlemen, there are no further questions at this time. I will now turn the conference over to management for any closing comments. Thank you.
Okay. Well, once again, thank you very much for your participation in the conference call in Ellaktor's conference call discussing the full year 2025 results. As answered in the question posed, I think it's really early in the year to make definitive statements and remarks on the full year progress. Thus, as there are no further questions, I would like to pause now, and thank you all for your participation. Thank you very much.
Ladies and gentlemen, the conference has now concluded, and you may disconnect your telephone. Thank you for calling, and have a pleasant evening.
Ellaktor — Q4 2025 Earnings Call
Ellaktor pivoted from construction to a real‑estate infrastructure group, selling major assets, returning cash to shareholders and ending 2025 largely debt‑free.
📊 Quarter at a Glance
- Revenue: EUR 89m group in 2025; continuing operations EUR 19m vs EUR 354m in 2024 (≈‑75%) due to asset disposals.
- Net profit: EUR 152m (2025) vs EUR 57.4m (2024), boosted by EUR 187.3m capital gains from disposals.
- EBITDA: loss of EUR 11.6m vs profit EUR 170m in 2024; operating loss driven by reduced construction/concession activity.
- Liquidity & leverage: cash ≈EUR 307m, total borrowings
🎯 What Management Says
- Strategic pivot: Group repositioned from construction/concessions and waste to a real‑estate infrastructure platform with less public‑sector exposure.
- Capital returns: Completed large returns to shareholders (EUR 470m in 2025; EUR 646m since July 2024) after disposals of Aktor Concessions, Helector and real‑estate assets.
- New income focus: Building recurring cash flow via leased assets and hospitality (25‑year hotel lease, serviced apartments, acquired prime office for EUR 44m); Alimos Marina permitting underway.
🔭 Outlook & Guidance
- Near term view: Management gave no formal 2026 guidance; cautious stance—expects hotel and new assets to contribute but prefers to assess performance after H1 2026 before predicting breakeven or EBITDA improvement.
- Balance sheet for investments: Available liquidity ≈EUR 307m and minimal net debt provide capacity for capital deployment; Alimos Marina construction targeted to start in 2026 with a 24–30 month build timeline, subject to final licenses.
❓ Analyst Q&A
- 2026 profitability: Analysts asked if hotel and new assets will drive breakeven; management said it's too early and will reassess after H1 2026.
- Dividend policy: Asked about a final dividend—management said distributions are a Board decision and cannot be pre‑empted ahead of the upcoming general assembly.
⚡ Bottom Line
Shareholders get a clearer, de‑risked Ellaktor: large one‑off gains funded substantial cash returns and left the group largely delevered and focused on recurring real‑estate income, but near‑term operating profitability depends on the ramp of new assets and timing of Alimos Marina licensing/construction.
Disclaimer: This analysis was generated with AI. AI can also make mistakes. This is not investment advice.
Financial data from Ellaktor
Revenue
Revenue is the sum of all sales generated by a company, e.g. for its products or services.
Revenue (TTM) metric explainedDirect Costs
Direct costs are the costs incurred directly in connection with the manufacture of the product or service.
Gross Profit
Gross Profit indicates how much of the revenue remains in the company after deducting direct production costs. If the percentage share of sales is calculated, this is referred to as the gross margin.
Gross Profit metric explainedSelling and Administrative Expenses
Selling, general and administrative expenses (SG&A) include all expenses for marketing and sales as well as the general administration of the company.
Research and Development Expense
Research and development costs (R&D) provide information on how much the company invests in the research and development of its products. The costs are particularly interesting as a percentage of revenue and in comparison to direct competitors.
EBITDA
EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) is the company's earnings before interest, taxes, depreciation and amortization. The EBITDA margin is calculated as a percentage of sales.
Depreciation and Amortization
Depreciation represents reductions in the value of the company's assets (e.g. due to wear and tear on machinery).
EBIT (Operating Income)
EBIT (Earnings Before Interest and Taxes) is the company's profit before interest and taxes, also known as the operating income. The EBIT Margin is calculated as a percentage of sales at
.
Net Profit
Net Profit represents the profit or loss after deduction of all costs.
Net Profit metric explainedStocksGuide Premium
| Dec '25 |
+/-
%
|
||
| Revenue | 19 19 |
93%
93%
100%
|
|
| - Direct Costs | 27 27 |
78%
78%
145%
|
|
| Gross Profit | -8.40 -8.40 |
105%
105%
-45%
|
|
| - Selling and Administrative Expenses | 47 47 |
23%
23%
251%
|
|
| - Research and Development Expense | - - |
-
-
|
|
| EBITDA | -44 -44 |
134%
134%
-236%
|
|
| - Depreciation and Amortization | 9.52 9.52 |
50%
50%
51%
|
|
| EBIT (Operating Income) EBIT | -54 -54 |
149%
149%
-287%
|
|
| Net Profit | 153 153 |
163%
163%
823%
|
|
In millions EUR.
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Company Profile
Ellaktor SA is a holding company, which engages in the provision of construction, energy, and real estate development services through its subsidiaries. The company is headquartered in Athina, Attiki and currently employs 256 full-time employees. The firm operates in the following business segments: construction and quarries, real estate development, concessions, wind farms, environment as well as other activities. The firm operates abroad in the Middle East countries, and more specifically in the United Arab Emirates, Qatar, Kuwait, Oman and Jordan, as well as in other countries, such as Germany, Italy, Cyprus, Romania, Bulgaria, Albania, Serbia, Slovenia, Croatia, Bosnia-Herzegovina, Former Yugoslav Republic of Macedonia (FYROM), the United Kingdom, Cameroon, Ethiopia, Turkey, the United States, Chile and Panama. The company subsidiaries include Aktor SA, Aktor Concessions SA, Andromachi SA, Yialou Anaptyxiaki SA and Reds Real Estate development SA, among others.
StocksGuide Premium
| Head office | Greece |
| CEO | Mr. Bouloutas |
| Employees | 255 |
| Website | ellaktor.com |
