With its sights set on a new era, Petros Petropoulos is moving forward, with management presenting to the General Meeting the vision of a company that remains strong in its traditional fields but is now seeking greater diversification through its own products and entry into new markets.
CEO Theodoros Anagnostopoulos noted that 2025 was slightly below the historic highs of 2024 but was the second-best year in the company’s history, both in terms of sales and profitability. The group’s revenue reached 231 million euros, while investments totaled nearly 5 million euros, with a focus on digital transformation, the development of Ecoshift, and the upgrading of storage facilities and building infrastructure.
Challenges and Key Areas
Mr. Anagnostopoulos also addressed the challenges of the year. Jaguar Land Rover was affected by a cyberattack that led to a production halt at the parent company, while KTM faced the repercussions of the crisis at the Pierer Mobility group, due to inventory buildup and a lack of liquidity. According to management, operations are gradually returning to normal.
In contrast, Scania trucks, Isuzu, and generators for industrial facilities posted strong performance. At the same time, the company completed the transfer of a significant portion of its operations to Mandra as part of the changes associated with the Double Regeneration project in Votanikos, while it also proceeded with an IT system upgrade—a project that, as noted, was necessary but operationally demanding.
The Significance of Ecoshift
Taking the floor, Executive Chairman Michalis Oikonomakis emphasized the significance of the shift the company is undertaking through Ecoshift. As he noted, Petros Petropoulos is transitioning from a purely commercial business model to one that includes manufacturing and its own product.
It should be noted that production of the first Greek electric motorcycle, the NOOS, began in October 2025 at the Metamorfosi plant. In fact, the company won a tender from ELTA, and a second phase is set to follow. According to Mr. Oikonomakis, feedback from users confirms that the company is moving in the right direction.
The next step involves the NOOS L1 category (i.e., no driver’s license required), with management seeing potential applications such as use at hotels, where charging stations can be set up and users can rent the vehicle via an app for getting around the city.
Ellinikon, the Islands, and Energy
On the micromobility front, the company already has a presence at Ellinikon Sports Park through a partnership with Lamda, with the goal of establishing a sustainable mobility model in the city of Elliniko.
At the same time, Ecoshift is developing energy storage solutions in partnership with Microsun for photovoltaics and batteries, targeting small-scale installations and islands. The first project was implemented in the Cyclades, specifically on Paros.
The company has also shipped a battery to Nigeria to be used in conjunction with generators, as part of its efforts to expand into export markets.
New Markets
Mr. Oikonomakis’s remarks on changes in the automotive sector were also of interest. As he noted, the traditional importer model is changing, as the market is gradually shifting from ownership to usage through leasing, subscriptions, and new business models. In fact, he did not rule out the possibility of the company entering the retail sector, something it had previously avoided.
At the same time, he noted that the company is “doing well,” but wants to “expand into other areas,” seeing opportunities beyond defense—a sector which, as he emphasized, “is currently booming but won’t last forever,” in markets such as medical device components.
Dividend, Treasury Stock, and New Board of Directors
The General Meeting approved the distribution of a dividend of 0.35 euros per share. The ex-dividend date will be July 20, the record date July 21, and payment will begin on July 27. As Mr. Oikonomakis noted, the dividend policy aims to maintain a strong equity-to-debt ratio while also rewarding shareholders; the company has distributed 13 million euros over the past four years.
A share buyback program was also approved, covering up to 10% of the share capital over a 24-month period, with a price range of 1 to 10 euros per share.
At the same time, a new nine-member Board of Directors was elected, comprising Theodoros Anagnostopoulos, Arianni Velissaropoulou, Athanasios Drogosis, Nikolaos Empeoglou, Ioannis Katsouridis, Cleopatra Kyriazi, Konstantinos Manos, Michalis Oikonomakis, and Ioannis Filiotis.