The construction sector continues to offer high returns on the Athens Stock Exchange, as listed companies continue to benefit from projects carried out across the country, improving their valuations.
There are five purely construction companies in the national capital market, whose combined value is estimated at 2.8 billion euros.
The largest of these 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 recently announced the agreement to sell its majority stake in Terna Energy, guaranteeing liquidity of around 900 million euros, its shares are expected to recover by 25% in 2024, rising intra-session to 17 euros, which is to say, to the highest levels since 2000. Its stock market value is estimated at 1.7 billion euros.
Intrakat’s share, which is now the second largest company in terms of backlog, has gained 10% since the beginning of the year, while in the last 12 months the change exceeds +140%. As a result, it is valued at 802 million euros and is at its 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 AVAX’s shareholding, which fell by at least 25%, reducing the company’s capitalization to 200 million euros.
Regarding the smaller Domiki Kritis and EKTER, their shares recorded a variation of +17.5% and +4% in 2024, building a market value of 60 and 47 million euros, respectively.
METKA + Ellaktor Bonus
Metlen Group’s METKA holds a large percentage of the market with a project portfolio worth €900 million at the end of 2023. This contributed to determining the value of the listed company, which today enjoys a capitalization of €5 billion euros. , just four euros from the historic maximum of 39 euros.
Finally, Ellaktor shares are valued at 854 million euros on the Athens stock exchange.
The value of 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
• Balance of 47 million euros
• Metlen (METKA) 5 billion euros
• Ellaktor 854 million euros