Ellaktor S.A.

Ladies and gentlemen, thank you for standing by. I am Geli, your chorus call operator. Welcome and thank you for joining the Elector Group Conference Call and Live Webcast to present and discuss the Elector's Group Full Year 2025 results. All participants will be in listen-only mode and the conference is being recorded. The presentation will be followed by a question-and-answer session for institutional investors and analysts via audio conference. Please refer to the invitation received if you wish to connect to the audio conference for your questions. Should anyone need assistance during the conference call, you may signal an operator by pressing star and zero on your telephone. At this time, I would like to turn the conference over to Mr. Simios Bouloutas, CEO, Elector Group, and Mr. Dimos Revalas, CFO, Elector Group. Mr. Revalas, you may now proceed.

Thank you. Good afternoon and welcome to Elactor's conference call for 2025 results. Our annual report for 2025, the press release announcing Elactor's financial and operating results for the year, as well as a presentation were issued last Friday. All are available on the IR section of our website. In our call today, we will share with you a business update and a review of our financial results and ESG performance. A Q&A session will then follow. Allow me now to turn over the floor to Mr. Bouloutas.

Thank you very much, Dimo. It's my turn to thank you for participating in a lecture's 2025 annual results analysis and presentation. I will follow the presentation that has been uploaded on Friday in a slide, and I will cover the group business update and the basic financial results for 2025. Now, 2025 was a pivotal year for a lecture that marked our transformation from a predominantly construction, dust energy, dust concessions and waste management group to a real estate infrastructure group with significantly less dependence and reliance on public sector. We managed to complete all of the transactions that we have earmarked, i.e., we completed the sale of Electro to Motor Oil in January 2025, following the SBA that has been signed in July 2024 for a consideration of $114 million. On the real estate, we completed the Wurden sale to demand in September 25 and the Kambas sale to demand again in February 2026. In total, the two transactions totaled for approximately $86 million. Now, as you know, we have signed an SBA with Axtor Group in April 2025 for the sale of Axtor concessions for an enterprise value of approximately $367 million. Following the approval by the Hellenic Capital Market Commission, the financial closing was completed in September 2025 with a final equity consideration of $252 million. Now, all this has brought a tremendous balance of transformation and the possibility with the cash that we had available for significant shareholder returns. So, all in all, we managed to return in December 2025 and March 2025, in total, a total dividend, actually it was a capital return of 470 million, approximately the size of our current market capitalization. Since July 2024, i.e. in less than 24 months we have returned back a total of 646 million, which amounts to 136 of our current market cap. That has left it, we are still... We still have an active group liquidity of approximately $307 million as of December 2025, and a very solid capital structure retained almost all of our loans. Now, in terms of new businesses, we have expanded in the hospitality sector through a 25-year lease of the Fiction Athens, which is a new hotel, 40-key, upscale city hotel on Hephesias Avenue, which opened on March 26th. We acquired late 2024, December 2024, 10 yielding assets, the Hestia Apartments, comprising of serviced apartments targeting short to mid-term stays, strengthening the recurring income visibility. So 2025 has been our first full year of integration risk in our platform. And finally, in March 26, we acquired from ProDea Investments a fully leased office building of 8,500 square meters in Vasilis Sofia Avenue for $44 million, enhancing our exposure to prime real estate. Finally, our landmark project, which is Alamo Marina. The development is underway. We have filed all the required paperwork and relevant feasibility studies and expect the final licensing of both the sea side and the land part in the coming months. We expect to commence construction during 2026. with an approximate 24 to 30 month completion timeline. Moving on to page number six, which presents the financial highlights for the year. Here I'd like to point out that group revenues for the full year amount to $89 million, out of which approximately $19 million derived from the continuous operations, compared with $354 million in 2024. So we've seen a decrease of approximately 75%. However, all of that is due to the transformation that I just mentioned. Net profit after tax amounted to 152 million compared with 57.4 in 2024, and that includes, obviously, capital gains of 187.3 million from the completed transaction. Group EBITDA amounted to losses of 11.6 million compared with profits of 170 million in 2024. We discussed the cash and cash equivalents which stood at 307 million approximately compared with 293 million as of 31st of December of 2024. Now, total equity amounted to approximately 487 million compared to approximately 777 million in the end of 2024. while equity attributable to majority shareholders amounts to 438 million, which amounts to approximately 1.26 euros per share. The decrease is mainly due to the capital returns of 0.85 cents per share in March 2025, as well as the distribution of the interim dividend for 2025 amounting to approximately 0.50 per share in December 2026. Finally, our total borrowings as a group, excluding the least liabilities amount to less than 26 million, effectively fully delivered the group. And with this overview, I'd like to turn on the call to Mr. Dimos Evelas, our CFO of our group, to give you more details about our consolidated P&Ls, the balance sheet, and the cash flows.