Increased by 192% profitability and by 44% the turnover of, of Avax In 2024, a year of reference for the historic construction group.
Based on the financial results announced today (29.4.2025), the AVAX Group, net tax profits amounted to EUR 30.4 million in 2024, compared to EUR 10.4 million in 2023. It is noteworthy that the Group’s EBC profits amounted to EUR 105.8 million.
The Avax Group has a consolidated turnover of continuing activities, increased by 43.6%, specifically to EUR 651.5 million, compared to EUR 453.5 million in 2023.
Remarkable is the increase in the EBITDA of the construction industry by EUR 38 million (from € 27 million to € 65 million), which is half -due to turnover increase and half the improvement of EBITDA margins from 6.2% in 2023 to 10.4% in 2024.
By accelerating the rate of implementation of new projects that incorporate better profitability characteristics, it is considered that the level is sustainable.
The Group’s unexplained balance of the group amounted to EUR 2.89 billion at the end of 2024 (compared to € 3.05 billion in 2023). Within 2025, with new signed contracts of EUR 39 million and signing € 268 million, it is expected to be around € 3.2 billion, with 51% involving private projects and PPPs, 49% public works, and 21% of them coming from abroad.
At the same time, the administration will propose to the shareholders at the next annual General Meeting, a dividend of EUR 0.07 per share (34.5% of net profits 2024), increased by 133% compared to EUR 0.03 of the previous year.
In 2024, the Group’s net bank lending amounted to 237.5m euros, down 49% compared to 2020, while the leverage index stood at 2.25x.
Finally, Avax concessions set a new bond loan of € 300 million, boosting cash flows for concession investment, real estate development and energy. The portfolio of entries in concessions, PPPs and marinas remains strong, giving long -term dividends, while selective participation in new competitions through the subsidiary AVAX concessions.
AVAX Group President Christos Ioannou, in the context of presentation of the results, stressed: “Having now strengthened our position, we are ready to chart the strategy of the next five years. Our goal is to reinveit construction’s finances in areas where we have know -how and we can offer substantial added value, in particular to concessions, residential development, marinas and selective energy in the energy sector. With these moves, we seek to maintain the contribution of non -construction EBITDA to at least 40%. “
New Central Message: Engineering-Future-Accomplishments
Presenting the new central message of the AVAX Group – Engineering – Future – Accomplishments, AVAX Group President Christos Ioannou said: “In the Avax Group we honor our tradition, but we invest in the future, which we are currently shaping through our decisions and actions. This philosophy also passes us on the new central message of our group: Engineering – Future – Accomplishments. It’s not just a slogan. It is the essence of the way we work, create and envision tomorrow. “
Antonis Mitzalis, an executive adviser to the AVAX Group, said that “increasing the turnover of the Group is the most powerful proof of the degree of response to completing complex and demanding projects”, while adding that “for the next day not only the construction is required, Mr Mitzalis made a thorough overview of the evolution of the great and smaller projects implemented by Avax.
Avax supports the excavation in Keros
AVAX Group President Christos Ioannou announced the new ESG initiative of the AVAX Group the support of the new research program on the island of Keros, with the oldest marine sanctuary in the world. It is a new ESG initiative with a high cultural and national symbolism as it is the most important excavation of the last 50 years in the region.
“Our decision to stand up for this flagship project clearly reflects our philosophy: to invest not only in today but also in the timeless future, in our cultural capital,” Mr. Ioannou noted, specializing that for the next 5 years, participate in the research program.
Source: RES – EIA