PASOK: Those over 50 will remember a Ministry of Finance ad from the early ’90s (during the Mitsotakis administration, that is) that aimed to raise citizens’ tax awareness: “Do you love Greece? Show me the receipt, ” was the tagline (encouraging consumers to ask for receipts) that became a slogan.
Anna Diamantopoulou chose to paraphrase this ad: “Do you love PASOK? Prove it, ” she wrote yesterday online, responding to Haris Doukas (without naming him), who had earlier proposed post-election cooperation between PASOK and Alexis Tsipras’s ELAS if New Democracy fails to secure a majority.
What upset everyone at Harilaou Trikoupi and Ms. Diamantopoulou was Mr. Doukas’s clarification regarding this proposal: such a coalition would be led by the party that receives a higher percentage of the vote than the other at the polls. That is, ELAS, if today’s polls are confirmed…
The point is that Anna had preceded Haris by reiterating her position that the question of whether there will be a post-election collaboration between PASOK and New Democracy will be answered by the election results, and therefore, we cannot speculate at this time.
And because PASOK’s goal of “coming in first by a single vote” elicits… smiles of condescension (to put it mildly), since it is fighting not only for second place but also for third (due to Karistianos), Ms. Diamantopoulou’s proposal doesn’t require any deep… analysis.
And so, PASOK returns to the pre-conference (March) internal debate over whether it should “consider” cooperation with New Democracy or with the “Tsipras party.”
PASOK II: From the very moment it became clear that Alexis Tsipras would proceed with the announcement of his party in May, we noted and conveyed the fear of quite a few officials at Harilaou Trikoupi: that if the new party solidified its second-place position in the polls, it would “draw in” the undecided voters from the progressive camp, who, under different circumstances, would have ended up voting for PASOK.
The hope was that the opposite would happen, because everyone agrees that these citizens share a common desire: they want the Mitsotakis government to go. And we’re not talking about a negligible percentage, since PASOK emerged from the 2009 polls with 44% and from the 2023 polls with 11.8%.
This means there is a massive “reservoir” of potential voters who supported SYRIZA in 2015 and, to a large extent, in 2019, but subsequently abandoned it without returning to the “green fold.”(Note: Excluded from this pool are the so-called “centrists” who turned to the current prime minister and show no inclination …to abandon him easily).
Polls to date have shown Tsipras’s ELAS in second place, and the aforementioned fear was publicly expressed in a statement by PASOK spokesperson Kostas Tsoukalas. Addressing the familiar criticism of polling firms for manipulating a segment of voters, he explained which voters he meant: “I am referring to those voters who think, ‘I want to side with the one who has a chance of winning, ’” he said.
He also officially explained why the PASOK leadership will fight heroically to restore the party to second place. However, it faces yet another serious problem: in the ALCO poll (the first company to “measure” ELAS after its founding), Tsipras leads with 25% over Androulakis (at 15%) on the question of who is Mitsotakis’s strongest opponent.
This may also hint at another question in the future: which of the two is better suited to answer the phone if it rings at 3 a.m.…
Let’s see where this clash between Harilaos Trikoupis and the pollsters will lead, because one after another, the latter are responding harshly (even… belligerently), while some are even hinting at legal action…
LEFT: Three…knitted sweaters began to unravel after the founding of ELAS: today, finally (the Arta Bridge has collapsed…), the New Left parliamentary group will disband with the departure of 5–7 of its MPs, with most of them (wanting to) join Tsipras’s party. You might say this is old news.
In the realm of the unknown, the resignation of Petros Kokkalis as Secretary of the “Kosmos” movement, which he led as its founder, stands out. His statement —“My resignation from the position of Secretary does not constitute a departure from politics. It is a choice of clear roles and political consistency” lends itself to interpretations regarding his next political steps, with the note that his relations with Alexis Tsipras remain impeccable —and unshaken.
As for SYRIZA’s “sweater”? We’ll have to wait and see what happens at Saturday’s Central Committee meeting, whose main topic will be… “what do we do now?”
A prelude to this is already Socrates Famellos’ insistence that Pavlos Polakis not participate, since he expelled him from the SYRIZA parliamentary group, and Pavlos’ response via the Internet: “Of course I’ll go; let’s not go over the same things again.”
As many within and around SYRIZA observe, with a mix of melancholy and schadenfreude, “it remains to be seen whether this meeting will turn into… ‘bouzouki bar 2’, ” where “1” was the one that barred Kasselakis and his delegates from entering.
But how life turns out…
DBC PROCESS: Reliable market sources confirm information from this column, according to which, through the spin-off of company divisions, Kostas Sakkaris will leave the group that had acquired it.
We remind you that the acquisition was announced in September 2024, led by Bright Business Solutions(CEO George Poulopoulos), but with Mr. Sakkaris playing a significant role in the financing.
According to the official spin-off agreement, which has been filed with the General Commercial Registry (GEMI), the spin-off concerns the “Subsidized Projects Services” and “Financial Advisory Services” sectors, i.e., private-sector activities, while the new company will be named“DBC Corporate Advisory SA.”
In the first phase of the spin-off, these activities—valued at a net worth of €350,000, including the DBC trademark and the domain name www.dbc.gr—will be transferred to a wholly-owned subsidiary of the parent company. Its shares, however, will subsequently be transferred to interests owned by Kostas Sakkaris.
According to the same sources, the business split is what we call a“friendly”one.
SHIPPING: Greek shipping is shifting toward smaller containerships of up to 3,000 TEU, with dozens of new orders for feeder vessels reshaping the industry and vindicating those who believed in this market early on.
While attention may remain focused on the mega-deals involving large container ships, the real activity in the Greek shipping industry is now centered on smaller container ships tasked with feeding major hub ports by transporting containers to and from regional ports.
According to data from TradeWinds, 103 of the 188 container ships ordered by Greek shipowners from the 2024 Posidonia exhibition through mid-May are vessels with a capacity of 1,000–3,000 TEU.
This trend has attracted both traditional players in container shipping, such as Danaos, Costamare, and Euroseas, as well as groups that have stayed out of the sector for years or are now entering it for the first time.
Market sources note that “half of Piraeus” is now considering investments in feeders. At the same time, industry leaders, such as Nikolaos Pateras’ Contships, are opting for more selective moves by purchasing newer second-hand vessels rather than engaging in mass shipbuilding.
SEANERGY: Stamatis Tsantani’s Seanergy Maritime Holdings is moving forward with the expansion of its shipbuilding program, reinforcing its “bet” on capesize bulkers.
The U.S.-listed company announced the order of yet another capesize bulk carrier in China, bringing the total number of newbuilds in its program—which began just last October—to six.
The new vessel, with a capacity of 181,500 dwt and equipped with a scrubber, will be built at Hengli Shipbuilding, where two other capesize vessels for the company are already under construction. The investment cost amounts to approximately $77.9 million, with delivery scheduled for the fourth quarter of 2027.
Seanergy CEO Stamatis Tsantanis stated that the company’s strategy combines “disciplined growth and risk management, ” while the company continues to renew its fleet through the sale of older vessels.
It should be noted that Seanergy reported net profits of $9.7 million in the first quarter, compared to losses a year ago. For the second quarter, the company estimates a further increase to $31,430 per day, while reports suggest it is one step away from a dual listing on the Athens Stock Exchange.
EUROCLINIC: The company closed the 2025 fiscal year with consolidated losses of €2.9 million and corporate losses of €3.72 million.
Consolidated revenue, after deducting rebates and clawbacks, amounted to €60.39 million, down 4.65%, with gross profit declining by 34.04% to €7.54 million.
Adjusted EBITDA stood at €4.82 million, down from €8.21 million in fiscal year 2024. Debt (including leases) remained nearly stable (€31.1 million), but €20.49 million of this amount now relates to bonds held by the sole shareholder, Generali, and were purchased as part of the transaction to acquire Euroclinic.
Bank debt has been reduced to just €2.5 million. The clinic reported negative working capital, with the group’s short-term liabilities exceeding current assets by €17.66 million.
DIVIDENDS: Shares of Performance Technologies and CNL Capital are tradable as of today, without dividend rights.
Performance Technologies is distributing €0.14226723 per share to its shareholders, with the net amount receivable after taxes amounting to €0.13515387 per share.
Similarly, CNL CAPITAL shares are trading on Euronext Athens at €0.30 per share (net amount).
ALTER EGO MEDIA: The outlook for the listed company is optimistic, as indicated by management’s recent communication with analysts and investors regarding the financial results for the 2025 fiscal year.
The market’s initial reaction was positive, with Pantelakis Securities confirming the group’s strong outlook, maintaining an “overweight” recommendation for Alter Ego Media shares and a target price of €6.90, a level implying upside potential of over 27% from Friday’s close at €5.40.
The company’s CEO, Ioannis Vrentzos, expressed strong optimism about the Group’s prospects, even presenting guidance that exceeds the brokerage firm’s forecasts. The 2026 guidance incorporates More.gr for the first time, in which AEM acquired a 50.1% stake for an initial consideration of €20 million, with the brokerage firm expecting a contribution to this year’s revenue of €9.2 million and EBITDA of €4.6 million.
The entry into live entertainment through the moves regarding More and Stages creates a third stable pillar of growth for the Group, while management confirmed its intention to pursue new, value-accretive acquisitions in the near future with the aim of further diversifying its activities.
It should be noted that the current valuation is based exclusively on the company’s existing and already announced activities. Therefore, the target price of €6.90 does not yet incorporate the value expected to arise from Alter Ego Media’s participation in the new joint venture with the Motor Oil and Antenna to create a new Greek streaming platform (ANT1+).
And whatever upside arises…
PRODEA: Shareholders are being asked to approve €3.47 million in bonuses for members of the Board of Directors.
Of this amount, €2.2 million is allocated to Executive Chairman and Chairman of the Investment Committee Christoforos Papachristoforou (€1.1 million) and CEO Aristotelis Karytinos (€1.1 million).
Theresia Messari will receive 512,500 euros, Athanasios Karagiannis 455,000 euros, and Stamatis Sapkas 150,000 euros. Finally, among the non-executive members, Nikos Iatrou will receive €100,000 and Giorgos Kountouris €60,000.
INTRACOM HOLDINGS: The listed company plans to participate in roadshows in the near future. However, the group’s management clarified during the general meeting that it does not intend to carry out a share capital increase.
Instead, as explained, the goal is to highlight the value of the group, its holdings, and how it now operates as an investment group.
GEK TERNA: Eurobank Equitiesexpects a strong improvement in operating profitability and a significant rise in net profits from the listed company, which is set to announce its first-quarter 2026 results before the market opens.
The brokerage estimates that consolidated revenue will reach €935 million, marking a 6% decline year-over-year. According to Eurobank Equities’ forecasts, increased activity in construction and the stronger contribution from concessions are not sufficient to fully offset the weaker performance of the energy sector.
In terms of operating profitability, however, the picture is clearly stronger, as adjusted EBITDA is estimated to increase by approximately 20%, reaching €163 million.
The improvement is mainly attributed to concessions, with Egnatia Odos making the largest contribution. The increase in net income is projected to be even more impressive, with net profits expected to reach €36 million, up 74% compared to the same quarter last year.