Greek consulting and engineering firm TREK Development posted first-half 2026 revenues of €1,725,201 and pre-tax profits of €618,676, according to a financial report released by Chairman and Chief Executive Officer K. Papapolyzos on Tuesday.
Period revenue was slightly lower than the €1,903,493 recorded in the first half of 2025, a shift that Papapolyzos attributed to the seasonal and project-based nature of the company's core operations.
Despite the minor variation in period turnover, the company completed key shareholding adjustments following its initial public listing on the EN.A. Growth segment of Euronext Athens in November 2025. Institutional and other major investors acquired approximately 35 percent of the total share capital during the first six months of 2026. Following a 139 percent stock price surge in the final two months of 2025, TREK's shares rose an additional 16.1 percent over the first half of 2026, while the business distributed a dividend of €500,000 to shareholders.
Euronext Athens operates the principal financial exchange market in Greece, with the EN.A. Growth market functioning as an alternative trading venue designed to assist emerging and expanding companies in accessing equity capital. First-half earnings were temporarily weighed down by non-recurring expenses connected to the listing process, including advisory, accounting, and legal fees, alongside initial payments for corporate acquisitions.
Financial performance and shareholding changes
The company also directed resources toward organic growth during the half-year term, recruiting specialized professional personnel and expanding technical support systems focused on special-purpose construction management. Papapolyzos stated that TREK remains committed to its declared operational strategy across three primary divisions: project development advisory services, critical infrastructure, and technology.
Under its project development advisory division, TREK secured a major framework agreement to provide technical support and advisory services to the European Investment Bank. The services will directly support the Greek government and other public interest entities, generating approximately €4.5 million in revenue for TREK over the next three years.
The European Investment Bank serves as the long-term lending institution of the European Union, financing sustainable public infrastructure and economic development initiatives across member states. In addition to the European Investment Bank agreement, TREK was awarded a supplementary executive contract by the Ministry of Infrastructure to assist in bringing construction projects across Greece to maturity, bringing an estimated €1.5 million to TREK over the next 1.5 years.
Advisory contracts and European Investment Bank deal
To strengthen its position in specialized private sector agricultural consulting, TREK acquired a 51.43 percent majority stake in TERRA Advisory, with an option to acquire an additional 30 percent. TERRA Advisory maintains a client portfolio and operational experience in project preparation, financing, monitoring, and commercial services within the primary agricultural sector, covering production, distribution, display, and promotion of agri-food products.
Within its critical infrastructure division, TREK signed multiple energy conservation contracts covering public buildings, including state schools, hospitals, athletic complexes, and port infrastructure. These construction contracts represent €3.5 million in total value with expected average net profit margins of 25 to 30 percent, scheduled for execution and payment over the next 18 months. The company is also actively preparing bids for construction contracts valued at approximately €18 million, with potential contract signing targeted for 2027.
Infrastructure projects and technology acquisitions
In its technology division, TREK is focusing on bidding for digital transition and smart cities initiatives designed to integrate digital monitoring and management into municipal infrastructure. Executive management is also evaluating potential corporate acquisitions within the defense and civil protection sectors to establish capabilities in dual-use technologies.
Financial invoicing and collections accelerated immediately following the close of the reporting period. In the 35 days following June 30, through August 5, 2026, TREK recorded an additional €916,149 in turnover and added €499,000 in pre-tax net profit. Adjusting the results close to the half-year mark to include these early August transactions brings overall turnover to €2,641,350, up 38 percent from 2025, and pre-tax profit to €1,118,469, an increase of 17.5 percent. Papapolyzos explained that the brief delay in billing and receiving payments for completed work was caused by administrative bureaucracy in the public and broader public sector.
Post period revenue and full year outlook
For full-year 2026, parent company TREK forecasts total turnover to exceed €6 million, representing an increase of approximately 70 percent compared to 2025, with pre-tax profits projected to reach nearly €2 million, up about 20 percent. On a consolidated group level, the integration of subsidiary TERRA Advisory is expected to add a further €1 million in turnover and €300,000 in pre-tax profits.
Papapolyzos assured shareholders that the business will achieve higher profitability rates throughout 2026 without relying on short-term quarterly targets or pursuing acquisitions solely for temporary impression. He stated that the company will deploy its capital systematically to maximize financial leverage and meet shareholder expectations.
