The Avax Group’s strategy for the next five years focuses on maintaining a strong EBITDA margin (earnings before interest, taxes, depreciation, and amortization) from construction while expanding into concessions, residential properties, marinas, and selectively in the energy sector. According to Chairman Christos Ioannou and Executive Director Antonis Mitzalis, they expect to sustain an EBITDA margin of at least 10% from construction in the coming years, up from 6% in 2023, based on the diverse range of projects they are undertaking.
In addition, their aim is for concessions, public-private partnerships (PPPs), and real estate activities to contribute 40% of the total EBITDA by the end of this five-year period, supported by the reinvestment of operating cash flows. Among the key PPP projects that Avax is pursuing are two significant road upgrades, valued at approximately 700 million euros, focusing on the EO2 – Mavrovouni – Edessa road axis and the Drama – Amphipolis vertical axis, which are currently in the competitive dialogue stage.
They are also involved in two notable building projects: the relocation of Korydallos prisons to Aspropyrgos, a PPP valued at 765 million euros, and a 520 million euro PPP for developing a government park at the Pyrkal facilities located in the Dafni – Hymettus municipality. It’s important to highlight that the anticipated revenue from existing concessions and PPPs over their lifetime is estimated to reach 900 million euros.
