en GEK Terna

GEK Terna Holdings Real Estate Constructions S.A.
Native name	ΓΕΚ ΤΕΡΝΑ
Company type	Anonymi Etairia
Traded as	Athex: GEKTERNA
Industry	Construction, Energy
Founded	1969 (as GEK)
Headquarters	Athens, Greece
Area served	Greece
Key people	Giorgos Peristeris (Chairman)
Products	Construction; Concessions; Energy; Waste management; Mining; Real Estate
Revenue	€971.30 million (2020)
Operating income	€145.10 million (2020)
Net income	€58.07 million (2020)
Total assets	€4.635 billion (2020)
Total equity	€823.86 million (2020)
Owners	Georgios Peristeris (29.75%); Latsco Hellenic Holdings S.a.r.L (7.60%)
Number of employees	2,052 (2020)
Subsidiaries	Terna Energy S.A. (45.9%); Heron S.A. (50%)
Website	www.gekterna.com

GEK Terna Holding Real Estate Construction (Genikós etaireía Kataskevastikí)(Greek: ΓΕΚ(Γενικός εταιρεία Κατασκευαστική) ΤΕΡΝΑ) is a large Greek conglomerate which is listed on the Athens Exchange. Its construction branch Terna is one of the leading enterprises of its sector in Greece.

GEK Terna's electric utilities branch Terna Energy lately focused on the production and transmission of renewable energy. Through its subsidiary Heron S.A., it is also involved in the construction and operation of thermoelectric power generation fueled with natural gas as well as the supply of Electricity and Natural Gas to consumers. Terna Energy is listed separately on the Athens Exchange (Athex: TENERGY ).^[3]^[4]

Company

The company was formed when former competitors GEK and TERNA merged in 1999. Until 2008, GEK was the name of the holding with TERNA being its operational branch. The Athens-based company has been listed at the Athens Exchange since 1969^[5] and belongs to the 25 companies forming the FTSE/Athex Large Cap index. In 2013, U.S. investment firm York Capital Magagement bought a 10% share of the company.^[6]

Rail privatization bid

Following the Greek government-debt crisis, GEK Terna showed interest in the planned privatization of Greek state-owned railway carrier TrainOSE. Together with the state-owned railway companies of Russia and France, RZD and SNCF, and Romanian private railway carrier Grup Feroviar Roman, it placed a joint bid for TrainOSE and the Hellenic Company for Rolling Stock Maintenance (Rosco), currently held by the Hellenic Republic Asset Development Fund. Following the January 2015 legislative election, the new SYRIZA-led administration however put the decision under review.^[7]