Athens Stock Exchange: Listed Companies Hit Record €12 Billion Profit in 2025
Christopher Enolpe
May 5th, 2026
The results highlight a significant concentration of wealth. Credit: AMNA
Profits for companies listed on the Athens Stock Exchange reached an all-time high in 2025, surpassing €12 billion ($13.2 billion.)
However, the results highlight a significant concentration of wealth, with 90% of total profits generated by just 25 companies out of the 143 that reported results.
Concentration of profits
While the total profit figure is historic, the distribution remains heavily skewed toward the “heavyweights”:
Banking sector: Seven banks alone accounted for €5.5 billion ($6.43 billion) of the total profit.
Large-cap (FTSE 25): The 25 largest companies on the exchange generated €11 billion ($12.8 billion).
Shareholders are set for record-breaking returns as dividend distributions are expected to reach €6.2 billion ($7.2 billion). Of this, €2.8 billion ($3.2 billion) will be distributed by Greece’s four systemic banks.
According to data from Beta Securities, key performance indicators showed steady growth:
Operating profits (EBITDA): Surged to a record €16.02 billion ($18.7 billion), a 3.8% increase year-over-year.
Revenue (Turnover): Totaled €102.2 billion ($119.5 billion, up 3.5%), narrowly missing the all-time record of €107 billion ($125 billion) set in 2022.
Profitability trends in the Athens Stock Exchange
The broader market showed healthy resilience, with 84% of listed companies (120 firms) reporting a profitable year.
Performance: 67 companies (70% of the profitable group) improved their year-over-year earnings.
Turnarounds: 17 companies successfully transitioned from losses in 2024 to profits in 2025.
Laggards: 36 companies saw a decline in profitability, while 23 remained loss-making.
Debt and cash reserves
The financial health of the listed sector remains a tale of two halves:
Rising debt: Net debt increased by 6.2% to €34.3 billion ($40.1 billion), driven primarily by aggressive investment cycles in the Energy and Construction sectors.
Cash wealth: Total cash reserves soared by 20.3% to €20.047 billion ($23.4 billion).
Net cash position: 35 companies (26% of the total) currently maintain a “positive net cash” position, meaning their available cash exceeds their total debt obligations.
