Cenergy Holdings announced on Wednesday its consolidated net profit after tax increases of 139 million euros for the financial results of the year ending December 31, 2024, and a divident of 0.14 euros per share, increased by 75% compared to the previous year.
Among the highlights the Group announced, were the following.
- Adjusted EBITDA reaches 272 million euros (+27% y-o-y) thanks to record-high 16.4% margin for the steel pipes segment while cables also grow their already solid margins.
- Revenue stands at 1.80 billion euros, +10% year over year (y-o-y).
- Net debt of 152 million euros and leverage ratio less than 1x.
- Solid order intake in both segments throughout the year drives the order backlog to 3.44 billion euros as of December 31, 2024.
- Consolidated net profit after tax increases to 139 million euros and allows for a proposed dividend of 0.14 euros per share, +75% compared to previous year.
- FY2025 guidance for adjusted EBITDA: 300-330 million euros.
Commenting on the Group's results, Cenergy Holdings' CEO Alexis Alexiou said, "2024 was a significant milestone in the history of Cenergy Holdings, as alongside our consistent upward drive, came the start of a new chapter for the Group. The successful share capital increase underlined the market’s belief in our abilities, allowing us to move forward with the construction of a new, state-of-the-art cable factory in the USA, set to be operational by 2027.
"Our customer-centric approach and our proven ability to execute complex energy infrastructure projects drove not only sales and profitability but contributed to a significant reduction in debt and further strengthening of our financial position. These results validate our competitive standing and set the goal for 2025 to build on our record achievements from 2024. A successful year such as this could not have occurred without commitment by all of our people to our Values: teamwork, safety, excellence and integrity."
