THRAKON-YTONG: Turnover of €43.6 million and 24.5% EBITDA growth in 2024

The Group strengthened all its key financial indicators and continued its strategic investments in production, automation and international presence.

THRAKON, one of the largest companies in the research, production and sale of ready-to-use building products, mortars, paints and varnishes, closed 2024 with a significant improvement in its financial results.

2024 financial results

2024 was a year of substantial growth for the THRAKON YTONG Group, with major achievements at both financial and operational level. The Group improved all its key financial indicators, confirming its strong momentum and its ability to invest strategically and efficiently.

• Turnover: €43.6 million, up 6.4% compared with 2023.
• Operating profit (EBITDA): €3.5 million, up 24.5%.
• Equity: €11.4 million, up from €9.3 million in 2023 (an increase of €2.1 million).
• Cash and cash equivalents: €3.5 million, up €1.4 million.
• Net bank debt: €8.8 million, down from €10.97 million in 2023 (a reduction of €2.15 million).

Strategic investments and expansion into Italy

At operational level, the first quarter of 2025 was a period of major developments and strategic investments for the Group, aimed at continued growth, a stronger international presence and upgraded infrastructure.

All necessary steps were completed together with Xella Italy for the Group to expand into Italy and begin producing and selling its products on the Italian market. Through its strategic partnership with the Xella Group, THRAKON is extending its geographical reach into one of Europe’s strongest markets.

More capacity, more automation

A key highlight was the 20% increase in production capacity, achieved by adding another autoclave to the autoclaved aerated concrete (AAC) plant. In addition, the Group invested in fully automating palletising at the Ytong plant in Orestiada by installing a robotic system. This investment is expected to improve efficiency and offer more, and more flexible, palletising options.

The new state-of-the-art plant in Oinofyta operated consistently and with high efficiency. During the same period, office renovations progressed and a training centre for engineers and technicians was created. The new bulk products line was also completed and went into operation in July.

Strong export growth

Particularly notable was the strong growth in exports. Sales of waterproofing products doubled compared with the previous year, while exports to the Middle East rose significantly. This confirms the steady growth of THRAKON – YTONG’s international presence and the competitiveness of its products in demanding markets.

New investments were also launched to expand storage facilities in Oinofyta, Chalkidona and Orestiada, with the aim of improving the supply chain and serving customers more effectively. The Group also made a strong showing at the international BAU trade fair, presenting innovative solutions and technologies that reflect its commitment to progress and sustainable growth.

CEO statement

Emmanouil Papadakis, CEO of THRAKON, said:

“THRAKON – YTONG’s strong momentum has been confirmed for another year through the steady improvement of its financial results and the delivery of strategic investments. Its position in the sector and its competitiveness are growing stronger. We believe that continuous investment in upgrading our infrastructure with cutting-edge technologies makes a decisive contribution to the quality of service we offer our partners. With a steady focus on innovation, quality and sustainable growth, THRAKON YTONG continues to invest strategically, strengthening its presence in both the domestic and international markets.”