Construction company EKTER has set its sights on achieving a turnover of 300 million euros over the next five years, as it expects its application for a Class 7 contractor’s license to be approved by the end of July.
Speaking at the Annual General Meeting of Shareholders yesterday, management reported that the company’s backlog of projects exceeds €200 million, representing an increase of over 80% from last year’s levels.
“Strategically, we have set a goal to do everything we can and are building our structure accordingly, so that the company can achieve a turnover of around €300 million over a five-year period. At this moment, with the structures and organization we have in place, we believe this is achievable while also protecting our EBITDA margins,”noted CEO Konstantinos Sipsas Bouzas.
Chairman Athanasios Sipsas spoke of a growth trajectory based on four pillars: construction, tourism, PPPs, and real estate.
“During 2025, EKTER participated in a total of 47 tenders, of which 27 were for public works and 20 for private projects with a total budget of approximately €1.4 billion.
At the same time, in the first quarter of 2026 alone, the company participated in 18 more tenders—14 public and 4 private—with a budget of €335 million, a fact that demonstrates the company’s continuous dynamism and assertive stance in the market,” he emphasized.
The company’s data on increased construction costs following the outbreak of war in Iran are of particular interest. Apostolos Bakogiannis, General & Technical Director, explained that “since February, when the turmoil began, there has been an increase of over 30%. It should be noted, however, that this also depends on the project’s current phase.” Despite the increase in costs, the target of achieving a 15% EBITDA margin on new projects remains.
The general meeting approved a dividend payment of €0.08 per share for the 2025 fiscal year.
Upcoming projects
EKTER’s backlog may increase in the near future, and by a significant amount. The company is reportedly leading the bid for the development of the logistics hub of PAEGA, a subsidiary of National Bank of Greece, an investment project approaching €200 million. It should be noted that the tender is still ongoing, with AKTOR, METKA, and Avax also vying for the contract.
Furthermore, EKTER has already participated in major PPP tenders, including the construction of student dormitories on the campuses of the University of Western Macedonia and the construction of the Heraklion Courthouse.
At the same time, the company is preparing to participate in the upcoming tender for the comprehensive renovation and energy retrofit of the old student dormitory at the Zografou Polytechnic Campus, a project valued at €39 million.