Ellaktor’s absorption of El. Tech. Anemos heralds renewable energy role of group

The Ellaktor group’s absorption of listed wind energy subsidiary El. Tech. Anemos, a move announced last Friday, signifies the major role to be played by the corporate group in renewable energy production, its new administration has noted.

The brothers Anastasios and Dimitris Kallitsantsis, who took over the corporate group’s helm last July following a tumultuous battle between the group’s major shareholders, had committed themselves, as a key stategy, to not selling El. Tech. Anemos. The duo expressed a preference to keep, as a group member, the wind energy firm, significantly contributing to the group’s results and reinforcement.

Ellaktor’s absorption of El. Tech. Anemos will enable the wind energy firm to further multiply benefits it previously offered to the group as a separate entity, the group’s new administration believes.

On the contrary, had El. Tech. Anemos been sold, as the group’s previous administration had wished, Ellaktor would have secured a one-off cash injection.

With El. Tech. Anemos still on board, the Ellaktor group has held on to a company asset that is displaying constant growth and producing rising profit levels.

The arrangement’s overall cash inflow benefits, as well as prospective synergies, are expected to offer the group major economies of scale as well as financing and tax savings, all of which stand to favorably impact the group’s financial results.