The Group's cash (cash and liquid assets) at 31.12.2022 increased to €508m from €470 m on 31.12.2021.
Total debt (excluding lease obligations) at consolidated level amounted to €691.6m at 31.12.2022
compared to €1,461m on 31.12.2021.
From the total debt, €119.6 m is short-term and €572.0m Long term. The total debt include amounts from of MOREAS SA (co-financed project) without recourse to the parent company (non recourse debt) amounting to €406.6 m. Excluding the loans of MOREAS SA, total debt at consolidated level amounted to €285m at 31.12.2022.
The Real Estate Development segment recorded annual revenues of €9.8 m for the period of 2022,
compared to €7.6 m for the year 2021 recording an increase of 29.6% or €2,2m. Earnings before interest,
depreciation and amortization (EBITDA) for 2022 amounted to €6.1m compared to €6.2 m of 2021. It is
noted that the 2021 result includes a reversal of property impairment amounting to €2.0m.
The Group, through REDS, is expected to implement an ambitious investment plan of €350m (Gournes,
Kambas, Alimos Marina).
In 2022, the Company proceeded to the spin-off of the Group's RES sector and its contribution to a new company which was established jointly with "MOTOR OIL RENEWABLE ENERGY SINGLE MEMBER SA" ("MORE", 100% subsidiary of MOTOR OIL) "ANEMOS RES SINGLE MEMBER". The Company participates in this newly established company with a percentage of 25% and MORE with a percentage of 75%. The total consideration for the transfer of the 75% stake to ANEMOS HOLDINGS amounted to €671.5 m.
Given the RES segment sale, the financial information of this segment is presented separately, in accordance with IFRS 5 - "Non-current Assets Held for Sale and Discontinued Operations” (D.O.). For comparison purposes financial information for the RES segment is also presented as a part of the ELLAKTOR Group. For reasons of comparability, the financial figures of the RES segment are also presented as part of the ELLAKTOR Group but also distinct for the correct and complete information of the investment public.
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