ADMIE Holdings, the Athens-listed company that owns a 51% stake in Greece’s electricity transmission operator ADMIE, and its subsidiary reported a significant improvement in financial performance in the first quarter, ahead of the launch of the transmission operator’s planned €1 billion share capital increase.
Group revenue rose 18.6% to €133.1 million year-on-year, while operating profit increased 21.5% to €99.2 million. Net profit climbed 27% to €49.1 million.
ADMIE Holdings posted similar growth, reflecting its participation in the transmission operator, with revenue increasing 23.8% and net profit rising 23% to €24.1 million.
The company highlighted that the Crete-Attica power interconnection has entered commercial operation and is generating the corresponding revenue stream.
The fourth and final phase of the Cyclades interconnection project is expected to be completed progressively during the year, with the Santorini-Naxos section scheduled for completion in the first half and the connections to Folegandros, Milos and Serifos in the second half.
