Ellaktor


Ellaktor SA is a multinational Greek construction group with operations spanning various sectors of public and private development, railway in ten countries. Internationally it operates in Oman, Serbia, Bucharest & Russia, Qatar as well as UAE, and Kuwait.
It is also a holding company that owns interest in European Goldfields and the Hellenic Casino of Pamitha/Athens Mont Parnes Casino which is undergoing expansion.
There are also significant real estate assets managed by subsidiary REDS. They include the Athens Exhibition Centre, Kantza Mall and the Yialou Retail Park and the Piraeus Metropolitan Center.
The company's consistent annual growth in revenue from 2005 to 2009 ended in 2010 when for the first time in half a decade Ellaktor recorded negative growth in sales. The drop in net profit was even more pronounced. In 2010 net debt grew six times faster than total assets. On February 2, 2014 Ellaktor had a market value of €6.8 billion

Operations

Operations are conducted through eight direct subsidiaries, each involved in one of the group's six main areas of business. 34% of the company's project backlog is outside of Greece ; about 37% comes from concessions, 21% from Infrastructure projects. Many of its development contracts come from concessions which the company competes for domestically and internationally are two of the biggest concession projects the company has been involved in. In 2011 it won its third Doha airport related contract. For 2010 solar power projects could contribute as much as €60 million in revenue.
Concessions projects - motorways, bridges, parking lots, other. Subsidiaries are Aktor Concessions ; Aktor is involved in the Athens toll ring road and a major toll bridge in Greece.
Construction - Aktor and Hellenic Quarries
Environmental facilities - Ellaktor both builds and operates a variety of facilities most related to the generation of renewable energy. Involved in waste management, recycling, solar energy and wind power.
  • Waste Management - Hellector, most business is in Greece and Cyprus. This business sector involves the construction of landfills, recycling plants as well as the management of leachate treatment plants. Hellector is the only producer of biogas in Greece and operates internationally in Germany and Bulgaria.
  • Energy - renewable including biogas and alternative energy. Includes thermal electricity production, Italian energy company Edison and Hellenic Petroleum. Subsidiaries include Ellinki Technomiki Anemos, Elpedison Power and Biosar.
Real Estate - R.E.D.S
Renewable Energy - The group established itself in the alternative energy market in 2000 when it created Eltech Anemos. In 2014 Anemos had a successful completion of IPO. It is involved in photovoltaic and wind production.
In November 2023, Ellaktor sold Aktor to Intrakat for a total of €224.8 million : Intrakat then renamed itself to the Aktor Group, in October 2024. In September 2025, Ellaktor sold Aktor Concessions to the Aktor Group for €194.6 million.

Former operations

Aktor Concessions, while it was part of Ellaktor, used to own 65.75% of Attiki Odos S.A., the operator of the Attiki Odos motorway network until 6 October 2024, when the GEK Terna-led Nea Attiki Odos took over the concession.

Greek projects

Ellaktor's Greek projects are for the most part majority controlled. Backlog comes mostly from transportation related developments followed by infrastructure projects.

Shareholders

In July 2018, the General Assembly of the shareholders voted for changing ELLAKTOR Group's management, in what was the first proxy fight ever held in Greece. Following the change and as per the Shareholder Register of 16.8.2019, Ellaktor's over 5% are PEMANOARO LIMITED and Leonidas Bobolas and the Free Float <5% as natural person 190,500 shares and equal voting rights, ie 0.09%, and b)through ARGONIO ENTERPRISES LIMITED, company controlled by him, 1,336,989 shares and equal voting rights, ie 0.62%. Leonidas Bobolas’ participation includes the participation of 1.14% held by the company ORANOM HOLDINGS LTD which he controls.

Controversies

In 2017, Ellaktor's former construction subsidiary Aktor was fined €38.5 million for colluding with other major Greek construction companies for 23 years to rig the tenders for public work projects in their favour, including projects that received funding from the European Union: at the time, the fine was the largest in Greece for cartel practices.