FY 2022 FINANCIAL RESULTS

Cenergy Holdings proudly announced today its financial results for 2022, marked by the strong profitability for cables and a turnaround year for steel pipes.

Key highlights:

•Revenue reaches EUR 1.43 billion (35% growth y-o-y).
•Order backlog breaks the EUR 2 billion barrier, driven by significant order intakes in both segments throughout the year.
•Operational profitability hits record-high levels with a-EBITDA at EUR 137 million (31% growth y-o-y).
•Consolidated profit before tax reaches EUR 70 million, while consolidated net profit after tax attains EUR 60 million.
•Capital expenditure of EUR 79 million in 2022 to further secure expansion room for the cables segment.
•Proposal of the Board of Directors to the Ordinary General Shareholders’ meeting for the approval of a gross dividend of EUR 0.05 per share for the first time in Company’s history.

Αlexis Alexiou CEO of Cenergy Holdings commented: “The strong operational performance of 2022 in both segments confirms our ability to offer quality products to our partners across the globe and contribute towards the energy transition. The record-high backlog provides us comfort to plan new investments that will address the growing demand for electrification driven by the accelerating transition to a low-carbon economy. With the new investment program in our submarine cables plant, initiated in 2023, we respond definitively to our customers’ and stakeholders’ needs and ambitions and remain confident we will continue to achieve solid growth and adequate profitability”.

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