Ellaktor

Ellaktor SA is a multinational Greek construction group (largest in Greece) with operations spanning various sectors of public and private development (real estate, energy (biogas and others), railway (Athens-Piraeus Electric Railways upgrade), fuel pipes, other infrastructure development) in ten countries. Internationally it operates in Oman (Blue City project through subsidiary Aktor, it is the largest key project abroad (€629 million giving it 50% interest), Serbia, Bucharest & Russia (waste management, in Russia it is currently the preferred bidder for a concession), Qatar (airport, 40%) as well as UAE, and Kuwait. It is also a holding company that owns interest in European Goldfields (19.36%, primarily to give it access to Hellas Gold (which it also has a 5% direct stake in) and the Hellenic Casino of Pamitha/Athens Mont Parnes Casino (15.3%) which is undergoing expansion (January 2011).

There are also significant real estate assets managed by subsidiary REDS. They include the Athens Exhibition Centre (11.7%), Kantza Mall (100%, budget at €300 million is the highest) and the Yialou Retail Park (100%) and the Piraeus Metropolitan Center (19.5%).

The company's consistent annual growth in revenue from 2005 to 2009 ended in 2010 when for the first time in half a decade Ellaktor recorded negative growth in sales (down 21.8% to €1.3 billion for the first nine months of the 2010 fiscal year). The drop in net profit (after minority interests) was even more pronounced (fell to €9 million from €72 million, net profit fell every year since 2007 when it amounted to €130 million). In 2010 net debt (€913 million) grew six times faster than total assets (23% compared to over 3%). On February 2, 2014 Ellaktor had a market value of €6.8 billion