ENGLISH EDITION

The pandemic has clearly affected the Spanish group’s business, with sales estimated to slightly exceed 2 billion euros this year, after declining by almost 25 percent in 2020 to 1.5 billion euros. In 2019, Puig's turnover hit 2 billion euros, reaching a record high, while profit after tax amounted to 226 million euros.

Not only is data requested for revenues, profit margins (on each project!) but also on contracts for research agreements, etc. The construction companies are also being asked their opinion about changes to the law on public procurement provided for in a bill prepared by the Ministry of Development.

According to the data so far, such a mechanism should be created in a way that will be transparent and fully compatible with the requirements of the EU, and could be put into operation by 2022. The broader objective of the ministry is for electricity prices for industry, and other productive sectors, to reach levels seen in other corresponding European markets.

For 2021, the company has already launched a marketing campaign specifically for the Gen-Z generation, on Instagram, TikTok and YouTube, while leveraging recognized influencers.

The announcement of another tender, amounting to 110 million euros, for the construction of the Wastewater Treatment Center (KEL) and the Underwater Disposal Pipeline of the Rafina-Pikermi and Spata-Artemis municipalities is also days away.

Hellinikon is the largest urban regeneration project in Europe and has always been considered an extremely difficult and complex project that would require time and persistent efforts. The complexity of the project has been underestimated by the government, with several New Democracy officials having said in 2019 that it was a matter of weeks before it would start. In the end, it took more than a year for some preliminary work to be done, while construction work has yet to begin.

Legislation, which has secured cross-party support, is also raising concerns for bankers, changing the order of priority in which asset sales revenues of are paid with creditors losing the lead. The process of special management provides for the in-service consolidation and sale of troubled companies.

The latest health data is forcing changes to the original plan, resulting in unfavorable scenarios being put on the table for the duration of the crisis, based on which the state’s additional burden may exceed 3 billion euros by the end of April. The increase in costs is attributed to the extension and addition of support measures until April and the activation of programs subsidizing fixed costs and business loans.

Investors that have shown an initial interest in Larco’s assets are Commodity & Mining Insight Ireland Ltd., GEK TERNA in cooperation with the Swiss AD HOLDINGS AG, Mytilineos, Solway Investment Group Ltd, Tharisa Plc and Trafigoura Group.

In Greece, the planned shutdown of lignite plants in coming years will play a key role in improving air quality, however, new policies are needed to address the environmental problem arising from road transport.