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CENERIndustrials · Electrical Equipment & Parts · ΧΑ

Cenergy

€21.32
+0.16(+0.76%)
Close 26/10/2026 · end-of-day price, not real-time

Cenergy (CENER) closed at €21.32 on 26/10/2026, +0.76% on the day. Market cap €4.5bn, P/E 23.4, dividend yield 1.22%.

My view
Private · MENTOR takes it into account
+1.5%6M
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26/10/2026Close 21.32+0.76%+1.5% since start

Key statistics

FY2025 unless a figure says otherwise

Profile

At the 26 Oct close
Market value
€4.5bn
Enterprise valueDec 2025est.
€4.7bn
Shares outstandingOct 2026
212.3m
RevenueFY2025
€2.1bn
Employees
4,192
Free floatest.
30.3%
Traded a day, 3-month average
€5.2m

Valuation

FY2025
P/E
23.4×
P/B
5.1×
EV/Salesest.
2.3×
EV/EBITDAest.
13.9×

5 years, on reported full years: 8.1–18.9×, median 12.2×. Today 13.9×, higher than 70% of months.

P/FCF
—

not meaningful here

Dividend yield
1.2%

Margins

FY2025
Gross
17.9%
EBITDA
16.5%
Operating (EBIT)
14.4%
Pre-tax
12.1%
Net
9.4%
Free cash flow
−0.7%

Net margin = the shareholders' profit ÷ group revenue.

Returns

FY2025
ROE
24.4%
ROCE
27.4%
ROICest.
21.3%
ROA
7.4%
ROE, 5-year averageFY2021–25
19.3%
Tax rate
22.3%

Financial health

Dec 2025
Cash
€442.5m
Net debt
€204m
Net debt ÷ EBITDA
0.60×
Debt ÷ equity
73.3%

leases included

Interest coverFY2025
5.8×

Growth

Revenue, last yearFY2025
+14.8%
EPS, last yearFY2025
+27.4%
Revenue, 3 yearsFY2022–25, a year
+13.1%
Revenue, 5 yearsFY2020–25, a year
+17.8%
EPS, 3 yearsFY2022–25, a year
+42.1%

Dividends

FY2025
Yield, last 12 months
1.2%
Per share
€0.260
Payout
28.5%
Covered by free cash flow
−0.27×
Years paid, last fiveFY2021–25
4

Trading and risk

From our closes, dividends reinvested
Total return, 1 year
+56.3%
3 years, a year
+57.1%
5 years, a year
+55.3%
Volatility, 1 year
40.5%
Beta to the General Index
1.01×
Deepest fall, 1 year / 5 years
−24.4% / −40.4%
52-week range
€14.00–€26.20
est.worked out by us

Where the figures come from: the company's reports, reviewed by us · annual accounts filed in ESEF format · results announcements on the exchange · our own closing prices. No forecasts or target prices are stored.

Financial charts

From the stored figures: the reviewed dossier first, then the annual reports (ESEF) and results announcements

Loading the charts…

Valuation

no like-for-like peer
MetricCENER
P/E23.4
P/B5.1
P/S2.2
EV/EBITDA13.9
Dividend yield1.2%
Payout ratio28.5%
Gross margin17.9%
Operating margin14.4%
Net margin9.4%
ROE24.4%
Revenue growth (last full year)14.8%
Net debt€204.0m
Twelve Data · latest quarter 31/12/2025

Peers: Cables

No other company listed in Athens runs this business; related ones can be ticked in.

EV/EBITDADay
CenergyCENER13.9+0.8%
ViohalcoVIO7.1+1.9%
ElvalHalcorELHA6.2+0.0%

The company

AI-drafted

Cenergy Holdings is a Belgian holding company, a subsidiary of Viohalco, listed on both Euronext Brussels and the Athens Exchange. It owns Hellenic Cables, which makes land and submarine power cables, and Corinth Pipeworks, which makes welded steel pipes for energy pipelines. Its customers are grid operators and energy groups, mostly in Europe; 83% of sales are outside Greece.

How it makes moneyH1 2026 · basis: revenue
  • Cables273%
  • Steel Pipes227%
It is
  • A holding company whose only businesses are Hellenic Cables and Corinth Pipeworks, controlled by Viohalco with 69.71% of the voting rights.1
  • A supplier of energy-infrastructure hardware — high-voltage and submarine cables and welded steel line pipe — with an order backlog of about EUR 3.9bn at 30 June 2026.2
It is not
  • Not a Greek issuer: it is incorporated in Brussels, primarily listed on Euronext Brussels, and its dividend carries 30% Belgian withholding tax.1,7
  • Not an energy company: it neither generates nor sells electricity or gas — it manufactures the equipment for those who do.1
Recent developmentsAll company events →
  • Sep 2026The board authorized a buyback of up to 435,000 shares and EUR 10m over 24 months; no first purchase was announced.9
  • Sep 2026DESFA awarded Corinth Pipeworks more than 200km of hydrogen-ready 30-inch HSAW line pipe for the Karperi to Komotini duplication.6
  • Aug 2026Hellenic Cables won IPTO's turnkey contract for the 320kV Corinth-Kos HVDC interconnection, worth about EUR 1.5bn, completing in 2030.3
  • Aug 2026Corinth Pipeworks secured the line pipe package for Rovuma LNG in Mozambique, valued at USD 200-250m.5
  • Jun 2026Hellenic Cables was awarded Lot A of IPTO's framework agreement for four island interconnections, worth about EUR 1.15bn.4
  • Mar 2026A Corinth Pipeworks subsidiary agreed to buy the Hartlepool LSAW pipe plant in England for GBP 10m.1
Key figures
  • Group order backlog €3.9bn 30 June 20262
  • Cables backlog €3.4bn 30 June 20262
  • Steel pipes backlog €0.5bn 30 June 20262
  • Adjusted EBITDA margin 18.7% H1 20262
  • Steel pipe production 335k t FY20251
Key facts
  • Viohalco notified a holding of 69.71% of the voting rights on 15 December 2025.1
  • A gross dividend of EUR 0.26 per share for FY2025, paid from 24 June 2026 and subject to 30% Belgian withholding tax.7
  • 83% of FY2025 sales were outside Greece, with Germany at 21.3% and the United Kingdom at 13.7%.1
  • Consolidated equity was EUR 952m and net debt EUR 433m at 30 June 2026; net debt includes lease liabilities.8
  • Management raised its FY2026 adjusted EBITDA guidance to EUR 390-420m.2
Sources
  1. 1.Annual Report 2025Cenergy Holdings · 31/03/2026official
  2. 2.2026 First Half Year Financial Results press releaseCenergy Holdings · 04/08/2026official
  3. 3.Hellenic Cables is awarded the turnkey contract by IPTO for the Corinth-Kos HVDC electrical interconnectionCenergy Holdings · 13/08/2026official
  4. 4.Hellenic Cables awarded Lot A of IPTO framework agreement for Greek island interconnectionsCenergy Holdings · 25/06/2026official
  5. 5.Corinth Pipeworks secures flagship Rovuma LNG offshore pipeline contractCenergy Holdings · 19/08/2026official
  6. 6.Corinth Pipeworks to supply the DESFA Karperi to Komotini high pressure branch duplication projectCenergy Holdings · 08/09/2026official
  7. 7.Approval of distribution of dividendCenergy Holdings · 26/05/2026official
  8. 8.Interim report for six months ended 30 June 2026Cenergy Holdings · 16/09/2026official
  9. 9.Board approval of share buyback programmeCenergy Holdings · 16/09/2026official
AI-drafted from the cited sources · 24/09/2026 · v3 · ✓ checked by an independent second modelCenergy Holdings S.A.Website ↗
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Why it moved
+0.76% · volume 0.6×
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Results
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Data: Twelve Data · End-of-day prices · Nothing here is investment advice.