AKTOR Group is prioritizing corporate transformation and a culture that values its employees, Chairman and CEO Alexandros Exarchou said after ringing the opening bell at the Athens Stock Exchange to mark the listing of new shares following a €200 million capital increase.
Exarchou described the company as a “beast that has awakened and is roaring.” He said AKTOR, Greece’s leading construction company, is poised to become one of the country’s largest firms.
The company aims to complete its internal and external transformation within two years before expanding into new markets.
Exarchou said the company’s backlog in Greece and Romania, along with Greek government public works projects, will support its growth.
He noted AKTOR’s market capitalization surge from €200 million in July 2022 to over €1 billion today.
Revenue has jumped from €225 million to €1.2 billion in 2024, and EBITDA is projected to reach €77 million this year after being negative in 2022.
The workforce has grown from 750 to 5,800 employees.
Addressing the construction industry’s labor shortage, Exarchou said Greece must attract skilled Greek workers back home rather than relying on foreign labor.
“You can’t expect a construction site to function smoothly with a French site manager, a Turkish foreman, and Pakistani workers,” he said. AKTOR is offering higher salaries and incentives to attract Greek professionals and plans scholarships and financial benefits to build a strong corporate culture.
Exarchou announced AKTOR will soon sign contracts for student housing projects in Crete and Thessaly.