The launch of its cable plant Cenergy Holdings In Maryland of USA It is expected in June 2027, as announced yesterday (5.5.2025) by financial director Alexander Bennos during a presentation of the group’s financial results.
Earthworks are completed, the plot is ready, the main contractor has been selected and the work is moving smoothly, with the start of the erection of the US Medium and High Voltage Cable plant to be expected By the end of June 2025as said by Cenergy Holdings’s financial director.
This is’ a very important step for the company because it places it in one huge marketWhether it is closed to imports (as it is now) or open (which will be 5-6 years), ”according to Mr Beno.
Undoubtedly, the impact of the new production unit on the financial results of the company will be felt later. Based on the estimates, the financial elements of December 2028 or even June 2029 will reflect the contribution of the US factory. “There is already a turnover of $ 300 million, with profitability scope respectively to those recorded in Europe,” he said.
Cenergy’s goal is to purchase land cables by HEDNOs of America to East coast of the US. “What gives better profitability and America needs today is the branching in urban areas“, Mr Benos said, as of the 400 million Americans, 150 million live on the beaches on the east coast.
The effect of Trump duties
Commenting on Trump duties, Cenergy’s CFO stressed that “we don’t know exactly how much Trump duties will affect and no one can know By 2026” In fact, he said that the company’s decision to invest in creating a cable factory in the US was made after 4 -year study And not after US President Donald Trump’s threats to duties.
So far, however, the administration is not particularly concerned For duties, as long as the company’s activities do not concern the area of RES.
It is noted that two are the companies that dominate the US market by checking the 85% – 90% of the offer cables and these are Premian and Southwirewhile the demand for land cables in America approaches overall 14 – 15 billion euros.
New investment of the company
On the possibility of new extensions, Mr Bennos commented that “we want to stop at a reasonable level, to show the market that we meet the goals we have set and then if the market conditions are good to continue in new investments.”
After 2027, and if the conditions of the market allow it, the possibility of expanding the factory production with the Add other categories of cableslike underwater.
The profits of 2024 and estimates for the current year
EUR 134 million amounted to net profits recorded by Cenergy Holdings in 2024, with the adjusted EBITDA reaching EUR 272 million (27% year -on -year) as a result of the historically high margins of the steel pipe sector, which amounted to 16.4%, while the cable sector has further improved.
In 2024, the company’s sales amounted to 1.80 billion euros, showing an increase of 10% on an annual basis, while the steady influx of new orders in both areas during the year formed the backlog of ordering in the EUR 3.44 billion.
Consolidated net profits of 2024 after tax increased to EUR 139 million versus EUR 72.95 million in 2023, enabling the dividend distribution proposal of EUR 0.14 per share, increased by 75% compared to the previous year.
For 2025, Cenergy Holdings’ adjusted eBitda is estimated between 300 and 330 million euros.