Avax S.A.

Avax S.A.

3.07
EUR
+0.04
(+1.16%)
408.63MMarket Cap
Mar 03Next Earn
2014 Y
2015 Y
2016 Y
2017 Y
2018 Y
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
TTM
Revenue per Share
4.66
4.11
4.87
6.06
4.84
5.18
3.43
4.1
2.79
3.14
4.39
6.46
- -
Basic EPS, GAAP
-0.32
-0.29
-0.38
-0.09
-0.23
-0.39
0.04
-0.1
0.26
0.07
0.2
0.32
- -
Free Cash Flow per Basic Share
-0.34
-0.21
-0.39
-0.53
-0.38
0.67
-0.89
0.33
0.06
0.26
-0.37
0.25
- -
Dividend per Share
- -
- -
- -
- -
- -
- -
- -
- -
- -
0.07
0.03
0.07
- -
Book Value per Share
1.95
1.61
1.05
0.99
0.8
0.58
0.54
0.67
1.07
1.07
1.05
1.41
1.41
Tangible Book Value per Share
1.89
1.55
1
0.89
0.7
0.52
0.49
0.66
1.06
1.06
1.05
1.41
1.41
Basic Weighted Avg Shares
111
111
111
111
111
111
135
144
144
145
148
148
148
Sales/Revenue/Turnover
518
456
541
673
538
576
463
592
403
454
651
958
- -
Operating Margin (%)
3.38
8.45
-6.66
0.99
-0.68
9.59
8.3
-0.37
-4.99
1.4
7.74
7.88
- -
Depreciation Expense
16
9
8
10
11
16
15
17
13
18
23
25
- -
Net Income, GAAP
-35
-33
-43
-10
-26
-43
6
-14
38
10
30
47
- -
Effective Tax Rate (%)
- -
686.22
- -
- -
- -
- -
- -
- -
30.34
39.92
43.11
27.35
- -
Profit Margin (%)
-6.8
-7.18
-7.87
-1.54
-4.79
-7.46
1.22
-2.37
9.46
2.27
4.62
4.95
- -
Working Capital
181
151
91
82
44
65
68
62
36
-13
19
-1
-1
LT Debt
432
419
417
470
477
515
511
383
293
267
269
229
229
Total Equity
217
177
116
110
88
78
92
110
155
160
158
211
211
Return on Invested Capital (%)
- -
-17.37
- -
- -
- -
- -
- -
- -
-1.99
-0.03
2.43
8.94
- -
Return on Capital (%)
- -
-31.88
- -
- -
- -
- -
- -
- -
8.91
4.38
8.56
10.97
- -
Return on Common Equity (%)
- -
-16.6
-28.85
-9.12
-25.91
-56.17
7.95
-16.12
30.46
6.59
19.11
25.92
- -

Capital Structure

EUR

•

in mil. unless spec.
Dec'24
Jun'25
Dec'25
ST Debt
94
123
157
LT Borrowings
210
211
174
LT Finance Leases
58
55
56
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
148
148
148
Market Capitalization
- -
- -
409

Working Capital

EUR

•

in mil. unless spec.
Dec'24
Jun'25
Dec'25
Total Current Assets
751
993
889
Cash, Cash Equivalents & STI
70
90
115
Accounts Receivable, Net
120
168
105
Inventories
48
56
80
Total Current Liabilities
732
933
890
Payables & Accruals
- -
- -
- -
ST Debt
94
123
157
Deferred Revenue
- -
- -
- -

Growth Rates

EUR

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
4.27%
19.19%
33.9%
Free Cash Flow
-75.1%
-62.73%
-168.09%
Net Income, GAAP
-48.55%
-108.51%
57.66%
Sales/Revenue/Turnover
10.96%
19.86%
47.08%
Total Cash Common Dividend
- -
- -
133%

Semi-annual Revenue

EUR

•

in mil. unless spec.

Year

H1
H2
FY
2023
- -
- -
454
2024
- -
- -
651
2025
- -
- -
958

Semi-annual Earnings Per Share

EUR

•

in mil. unless spec.

Year

H1
H2
FY
2023
- -
- -
0.07
2024
- -
- -
0.2
2025
- -
- -
0.32

Semi-annual Dividends Per Share

EUR

•

in mil. unless spec.

Year

H1
H2
FY
2023
- -
- -
0.07
2024
- -
- -
0.03
2025
- -
- -
0.07

Company Description

CEO
Konstantinos Antoniou Mitzalis
Full Time Employees
2,803
Sector
Industrial services
Industry
Engineering & construction
Address
16 Amarousiou-Halandriou Street Marousi GI Greece 15125
IPO Date
Aug 24, 1994
Website
avax.gr
Business
Avax S.A. is a Greece-based construction company engaged primarily in civil engineering, construction, concessions, energy, and related activities, operating both domestically and internationally. The company’s core products and services include design and construction of civil engineering projects such as hospitals, sports centers, hotels, banks, educational institutions, parking facilities, airports, and other public and private infrastructure; concessions and public-private partnership projects focusing on highways and bridge construction; energy and industrial projects including power plants, natural gas infrastructure, liquefied natural gas (LNG) terminals, refineries, petrochemical facilities, and environmental projects; along with real estate development for luxury urban residences and holiday complexes. Additionally, Avax operates in facility management services, vehicle technical inspections, construction management, car park operation, wood processing, and waste management through its subsidiaries. Founded in 1986 and headquartered in Marousi, Greece, Avax S.A. has built a strong reputation as one of the largest construction groups in Greece, with a substantial international footprint. The company has recently accelerated implementation of new construction projects, resulting in a 44% revenue increase to €651.5 million in 2024, with a significant improvement in profitability and EBITDA margins driven by its construction business segment. Among recent strategic developments, Avax Concessions issued a €300 million bond loan to finance Group investments totaling €120 million, signaling an expansion and strengthening of its investment capacity. The Group also reported improved financial metrics such as a net profit increase by 192% to €30.4 million and a reduction in net debt to EBITDA ratios, reflecting enhanced operational efficiency and balance sheet strength. Avax continues to maintain a diversified portfolio that spans civil engineering, hydraulic works, port and road constructions, electrical and industrial works, and natural gas networks, complemented by ongoing investments in renewable energy production through its subsidiary Volterra. The company targets governments, public institutions, and private sector clients across Greece and abroad, positioning itself as a strategic partner for large-scale infrastructure development. Avax's activities are supported by substantial backlog orders amounting to approximately €3.2 billion as of early 2025, underscoring its strong market presence and project pipeline. Overall, Avax S.A. is a multi-segment construction and infrastructure group with expertise in designing, building, and managing complex projects across construction, energy, concessions, and service sectors, recently marked by financial growth, expanded investments, and strategic financing initiatives supporting its operational and geographic expansion.