The strong growth prospects of the ADMIE Group in this new era, marked by a €1 billion share capital increase, were discussed at a joint press conference by ADMIE Chairman and CEO Manos Manousakis and ADMIE Holdings Chairman and CEO Ioannis Karabelas.
The press conference was held in connection with the public offering that began today, June 16, and ends on June 18, for the capital increase of the publicly traded ADMIE Holdings, with the goal of raising 530 million euros, of which €271 million has already been covered by the Greek government.
The strong interest from foreign portfolios in the capital increase is confirmed by the participation of Capital World Investors, the investment arm of Capital Group, as a cornerstone investor in the international offering.
Mr. Manousakis referred to the Operator’s strategic plan for the coming years, which includes major interconnection projects in the Dodecanese and the islands of the northern Aegean, as well as the second Greece-Italy interconnection, GRITA 2.
He emphasized that the projects ADMIE has completed and is planning are transforming the country’s electricity system and enhancing its position on the energy map. He also noted that the Operator’s track record of projects has contributed to the company’s international recognition, increasing its visibility in foreign capital markets and facilitating its evolution from a national to a regional player in critical energy infrastructure.
Mr. Ioannis Karabelas focused on the high added value that the Operator creates—through the construction of new electrical infrastructure—for the shareholders of the publicly traded company. As he explained, the doubling of ADMIE’s asset base by 2029 supports the prospect of higher returns for shareholders, noting that the dividend payout ratio for the same period is expected to remain at approximately 100% of distributable profits.
During the press conference, the Group also presented the priority projects to be included in the investment program, as well as its financial figures and financial targets.
“The share capital increase, which will be completed in the very near future, serves as a catalyst for accelerating our investment program. The Greek government’s participation has been successfully completed through the use of funds from the Recovery and Resilience Facility, with the public offering currently underway serving as the final step.
It is a great source of satisfaction that, in such a demanding process, ADMIE has received a strong vote of confidence from the government and the EU, while also enjoying the support of institutional investors. “This constitutes multiple recognition of the Operator regarding its pivotal role in both the national energy strategy and its growth potential,” Mr. Manousakis stated in this regard.
“Today’s public offering is an important step toward ensuring ADMIE Holdings’ participation in ADMIE’s growth trajectory. Through our participation in the Operator’s capital increase, we are supporting an ambitious investment program that will strengthen the country’s energy security, accelerate the energy transition, and enhance Greece’s strategic role as an energy hub in the wider region.
“We remain committed to creating long-term value for our shareholders by investing in infrastructure with a strong developmental and social impact,” Mr. Karabelas emphasized.