GEK TERNA Group: Contribution of €4.8 billion to Greece's GDP

The substantial contribution of GEK TERNA Group to the national economy and Greek society was once again reaffirmed this year through the “Socio-Economic Impact Assessment (SEIA) for the period 2022-2023”.

The study highlights the positive impact of the Group's business activities on the economy, employment, and the environment, confirming that GEK TERNA's overall strategy is designed and implemented with a focus on sustainability, long-term viability and development, focusing on people and the well-being of local communities.

According to the report, GEK TERNA Group contributes €4.8 billion to the country's GDP, an amount corresponding to 1.12% of the total Gross Domestic Product for the period 2022-2023.

Furthermore, the positive impact of the Group's value chain on public revenue is estimated at €618 million, while the total contribution to national income amounts to €1.6 billion. Through its multi-faceted activity in sectors such as construction, infrastructure, concessions, and renewable energy, GEK TERNA Group strengthens and supports the national income both through the wages it provides to its employees and through its partnerships with suppliers, which generate income for their workforce.

The direct and indirect economic impact generated across the Group's value chain is estimated at approximately €1.3 billion for the period 2022-2023.
Additionally, considering the impact derived from the consumer spending of employees in sectors participating in the Group's value chain (induced or generated impact), this contribution to the Greek economy amounts to €277 million.

In fact, the comparative results between 2022 and 2023 show that the value the Group offers to society and the economy has significantly increased. Specifically, the impact on GDP recorded a 253% increase, contribution to employment rose by 75%, and the contribution to public revenues increased by 11%.

GEK TERNA’s contribution to employment is also significant. The average annual total (direct, indirect, & induced) impact of the Group’s value chain is estimated at around 37,500 jobs, which correspond to 1% of total employment in Greece for the period 2022-2023.

It is worth noting that for every direct job at GEK TERNA Group, seven (7) additional jobs are supported in the broader economy, while the impact on employment has increased by 75% in 2023 compared to 2021.

The corporate social responsibility programme more than doubled in 2023 compared to 2022, reaching €11.6 million. The active support towards the society through actions and initiatives that improve citizens' daily lives and promote social well-being is a key element of the Group's corporate culture. The Group's business activities are closely linked to the local communities where it operates, providing meaningful and long-term support through social programs that create value and meet the essential social needs of each region.

For the preparation of the Socio-Economic Impact Assessment of GEK TERNA Group, a widely recognized methodology, based on the model of Nobel Prize-winning economist Wassily Leontief, was used. The methodology applies the “Input-Output” analysis model, which allows the identification and quantification of the Group's impacts across various sectors of the economy and society. The study was conducted with the contribution of PwC Business Solutions S.A. as part of a broader collaboration to provide consulting services on sustainable development issues (2023-2024) for GEK TERNA Group.