At a critical juncture for its future, with the major redevelopment of Thessaloniki’s exhibition centre the next key milestone, TIF-Helexpo saw its profitability fall sharply.
Last year, the year it celebrated its centenary, the exhibition operator reported a 61% fall in net profit to €817,000, while EBITDA declined to €2.55 million from €3.77 million.
Consolidated revenue stood at €18.1 million, down from €18.7 million in 2024. Management attributed part of the decline in sales to the rotation of major exhibitions. Agrotica, which has greater commercial appeal, was held in 2024, while Zootechnia took place in 2025.
Over the same period, the cost of sales rose 8.3% to €12.7 million, reducing gross profit to €5.4 million from €7 million. Cash reserves fell to €6.5 million from €8.3 million.
These financial results take on particular significance ahead of the redevelopment of the exhibition centre. The tender documents were finalised last July, and the tender was announced in August, with a deadline for bids of 21 September, which was extended to mid-October.
Reports suggest that the AKTOR group has gained the upper hand in the tender for the major redevelopment of the Thessaloniki International Fair (TIF), having reportedly submitted the highest financial discount, at 31%. The project, with a total budget of €204.6 million including VAT, attracted interest from six construction groups, with METKA next, offering a 28.5% discount. The project includes new exhibition facilities, the renovation of the “I. Vellidis” conference centre, underground car parks and the creation of extensive green spaces.
2025 also brought changes to the management team. A new board was elected in December, with Christos Tsentemeidis as chairman and Kyriakos Pozrikidis as chief executive. HCAP, known as the Growthfund, remains the sole shareholder of TIF-Helexpo.