Intrakat Societe Anonyme Technical and Energy Projects : Presentation to Analysts - FY 2023 Annual Financial Results

FY 2023 Annual Financial Results

April 23, 2024

Contents

1	2	3	4
	Overview		Financial Results		Going Forward		Annex

1Overview

A leading construction group in Greece, with growing footprint in SE Europe

70	c. €0.8bn
years of successful	FY 2023 consolidated
operation
turnover*

c. €4.9bn	c. 5,800
backlog	employees (incl. JVs)

4

*Pro forma figures refer to FY 2023 Intrakat Group results and annualized Aktor Group results

Diversified portfolio focusing on three strategic pillars

1 2

3

Real Estate Environment

Construction

RES

PPPs / Concessions

Facility Quarrying management activities

•	Extensive know how	•	20MW installed capacity (EOD
•	Ability to deliver "turn-key"		2023)
	projects	•	2.7GW total portfolio capacity
•	Projects to be executed €4.9bn	•	Strategic partnership with PPC
			Renewables (PPCR)

• 4 PPPs in operation
• 2 PPPs newly signed within 2023
• 3 PPPs preferred bidder
• More than 20 PPPs in tender

process	ICT

…aiming at developing a portfolio of high-quality end products as well as to enhance recurring cash flows

Shareholders' Value Maximization

5

Enhancement of recurring income and EBITDA

Solid cash flows

Activity diversification

Synergies through

strategic partnerships

FY 2023 marked by important events, having a profound impact on Intrakat's growth potential

Jan		Mar
		Acquisition of
Share Capital
Increase		100% of Aktor
€100m		S.A.
		(pending approval
		from competent
		authorities)

Jun		Aug
Ecomar		Preferred
Project		bidder in
UAE, budget		RAWEW's
€352m		tender for the
		construction of

	3 energy
	storage units
6	100MW power

Apr

Signing of 2

flagship PPPs:

• Kalamata - Pylos Roadway, budget €239m
• Northern Roadway of Crete (BOAK), budget €189m

Sep

H1 2023

financial results released, with Intrakat reporting solid return to operating profitability

	Apr		May
	Preferred		Marina
	bidder in PPP		Residential
	"Student		Tower, budget
	Residences of		€350m
	University of
	Crete", budget
	€206m
	Nov		Dec
	Completion of		Strategic
	AKTOR's		partnership
	acquisition		with PPCR

2Financial Results

Robust performance unlocks solid return to operating profitability

Group		Group		Group		Group		Backlog
Turnover		Gross Profit		EBITDA		EAT		€4.9bn
€412m		€40m		€16m		€3m		(+270% y-o-y)
(+83% y-o-y)		(+122% y-o-y)		(turnaround from -€3my-o-y)		(turnaround from -€24my-o-y)

Cash	Equity	Net Debt	Operating	Market Cap.
€125m	€162m	€123m	Cash Flows	€0.8bn
(+394% y-o-y)	(+168% y-o-y)	(-3%y-o-y)	€78m	(+210% y-o-y)

(+429% y-o-y)

8

Note: FY 2023 consolidated figures include FY 2023 Intrakat Group results and Aktor Group financial results for the period 08.11-31.12.2023

Impressive turnaround backed on three major axes

1	2
Ongoing flow	End of legacy
of new	backlog,
projects and	improved
acceleration	margins
of projects'

execution

3

Focus on

profitable

markets, with

growth

potential

9

Remarkable boost recorded in group turnover and gross profit

Turnover (€m)	COGS (€m)
	+83%	412		+79%	372

225			207

		31.12.2022		31.12.2023		31.12.2022		31.12.2023
Gross Profit (€m)	Gross Margin (%)

+122% 40

10%

8%

18

10		31.12.2022		31.12.2023		31.12.2022		31.12.2023

Note: FY 2023 consolidated figures include FY 2023 Intrakat Group results and Aktor Group financial results for the period 08.11-31.12.2023