GEK Terna

In today's world, GEK Terna is a topic that has become increasingly relevant and interesting. With the advancement of technology and globalization, GEK Terna has become a meeting point for society and its various manifestations. Throughout history, GEK Terna has been the subject of debate, study and controversy, generating a wide range of opinions and points of view. Whether from a cultural, social, political or economic perspective, GEK Terna has left a significant mark on humanity, arousing both passions and criticism. In this article, we will explore the different aspects and dimensions of GEK Terna, its impact today and its relevance in everyday life.

This article is about the Greek construction and energy company. For the Italian company, see Terna Group.

GEK Terna Holdings Real Estate Constructions S.A.
Native name
ΓΕΚ ΤΕΡΝΑ
Company typeAnonymi Etairia
Athex: GEKTERNA
IndustryConstruction, Energy
Founded1969 (1969) (as GEK)
HeadquartersAthens, Greece
Area served
Greece
Key people
Giorgos Peristeris (Chairman)
ProductsConstruction
Concessions
Energy
Waste management
Mining
Real Estate
Revenue€971.30 million (2020[1])
€145.10 million (2020[1])
€58.07 million (2020[1])
Total assets€4.635 billion (2020[1])
Total equity€823.86 million (2020[1])
OwnersGeorgios Peristeris (29.75%)
Latsco Hellenic Holdings S.a.r.L (7.60%)[2]
Number of employees
2,052 (2020[1])
SubsidiariesTerna Energy S.A. (45.9%)
Heron S.A. (50%)
Websitewww.gekterna.com Edit this at Wikidata

GEK Terna Holding Real Estate Construction (Genikós etaireía Kataskevastikí)(Greek: ΓΕΚ(Γενικός εταιρεία Κατασκευαστική) ΤΕΡΝΑ) is a large Greek conglomerate which is listed on the Athens Exchange. Its construction branch Terna is one of the leading enterprises of its sector in Greece.

GEK Terna's electric utilities branch Terna Energy lately focused on the production and transmission of renewable energy. Through its subsidiary Heron S.A., it is also involved in the construction and operation of thermoelectric power generation fueled with natural gas as well as the supply of Electricity and Natural Gas to consumers. Terna Energy is listed separately on the Athens Exchange (Athex: TENERGY ).[3][4]

Company

The company was formed when former competitors GEK and TERNA merged in 1999. Until 2008, GEK was the name of the holding with TERNA being its operational branch. The Athens-based company has been listed at the Athens Exchange since 1969[5] and belongs to the 25 companies forming the FTSE/Athex Large Cap index. In 2013, U.S. investment firm York Capital Magagement bought a 10% share of the company.[6]

Sectors

Rail privatization bid

Following the Greek government-debt crisis, GEK Terna showed interest in the planned privatization of Greek state-owned railway carrier TrainOSE. Together with the state-owned railway companies of Russia and France, RZD and SNCF, and Romanian private railway carrier Grup Feroviar Roman, it placed a joint bid for TrainOSE and the Hellenic Company for Rolling Stock Maintenance (Rosco), currently held by the Hellenic Republic Asset Development Fund. Following the January 2015 legislative election, the new SYRIZA-led administration however put the decision under review.[7]

Kavala Port

In January 2025, GEK Terna's subsidiary, Sarisa, took over the sub-concession for the Kavala Port's commercial use. The agreement, valued at around €34 million, grants Sarisa the rights to operate, maintain, and develop part of the port for 40 years.[8] The investment plan includes €36 million for further development and heavy maintenance.

Attiki Odos

In 2024, GEK Terna signed a 25-year concession agreement for Attiki Odos,[9] which spans approximately 70 kilometers serving as the peripheral road axis for the greater metropolitan area of Athens.

See also

References

  1. ^ a b c d e f "2020 Annual Financial Statement" (PDF). gekterna.com. Retrieved 24 October 2023.
  2. ^ "Shareholder structure". gekterna.com. Retrieved 24 October 2023.
  3. ^ Terna Energy website
  4. ^ Profile of Terna Energy on the Athens Exchange
  5. ^ "Company profile: GEK TERNA". Athens Exchange. Retrieved 22 February 2015.
  6. ^ "US fund to invest 100 mln euros in Greece's GEK Terna". Reuters. 4 November 2013. Retrieved 22 February 2015.
  7. ^ Barrow, Keith (30 January 2015). "Greece to review rail privatisation". International Railway Journal.
  8. ^ money-tourism (26 January 2025). "Commencement of the sub-concession for the development of "Philippos ΙΙ" terminal of Kavala Port Authority S.A." ΧΡΗΜΑ & ΤΟΥΡΙΣΜΟΣ money-tourism.gr. Retrieved 24 February 2025.
  9. ^ mkatopodi (12 September 2024). "Attiki Odos - 25-Year Concession Deal with GEK TERNA signed". tovima.com. Retrieved 24 February 2025.

Sources