Feb 12 β€’ 05:14 UTC πŸ‡¬πŸ‡· Greece Naftemporiki

The Silence of the Billionaire

Henry Holtermann, a major shareholder in Ellaktor, has raised concerns by not presenting a business plan for the company's future despite previous significant dividend payouts.

Henry Holtermann, a billionaire and key shareholder of Ellaktor, has faced scrutiny for his lack of a clear business strategy for the company, especially after distributing hundreds of millions of euros in dividends and capital returns over recent years. While the firm has provided substantial shareholder returns, Holtermann's silence on future plans amid dwindling revenue sources has caused concern among investors, who are eager for direction. The market has been patiently awaiting his strategy for Ellaktor, which currently has negligible revenue streams following a significant reduction in its asset portfolio.

The sole remaining asset of Ellaktor is the Marina Alimou project, which, although considered ambitious, does not fully satisfy investor expectations for a robust turnaround. The company has shifted away from construction activities, and performance indicators suggest a critical need for a redefined business direction. Investors are particularly anxious as the firm's outlook remains grim with almost no revenue generation since the major divestments, leaving its future uncertain.

As the market looks to Holtermann for leadership, the growing apprehension could impact shareholder confidence. The potential lack of rejuvenation within Ellaktor could lead to challenges in securing new investments or partnerships, emphasizing the importance of transparency from Holtermann regarding his vision for revitalizing the company. Without a firm plan, the market may start questioning both Holtermann’s commitment and the viability of Ellaktor moving forward.

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