Strategy

2022-2024 Strategic Plan

As an active shareholder and responsible investor, Growthfund prioritizes the transformation of its portfolio companies, enhancing their sustainability and upgrading their governance model. It assumes an active role in managing its portfolio companies, with the goal of creating added value and ensuring enhanced services for citizens and consumers. Additionally, it strengthens its investment role by channelling its resources into growth initiatives and reinvesting in the Greek economy.

Growthfund’s mega-KPIs are closely linked to the economy, the environment, and the citizens, namely the primary beneficiaries of our work and its outcomes.

Citizens
Trust Index
+40%

Environment
Decarbonization Index
-15%

Economy
Net Asset Value
+15%

The 2022-2024 Strategic Plan of Growthfund aims at creating value for the economy, the environment and the citizens.

Strategic Plan 2022-2024

Strategy at a glance

The 2022-2024 Strategic Plan presents a comprehensive reform agenda for Growthfund’s portfolio members while outlining its investment role in the Greek economy. This includes financial and non-financial key performance indicators (KPIs), as well as specific targets related to economic and sustainable development, as well as timelines to transform Growthfund into a Sovereign Wealth Fund, in line with international standards and best practices.

Sector

Growthfund, acknowledging its role as the executive arm of public policy and in the context of its Strategic Plan implementation, has designed an asset management framework.

Energy

Real Estate Management

Transportation & Infrastructure

Food & Supply

Technology & Innovation

Postal Services

Major initiatives

Growthfund, as an active shareholder, has implemented several initiatives to ensure the optimal management of public assets.

These initiatives encompass:

Asset valuation

Determination of the value of Growthfund’s participation in its portfolio companies (2023)
Determination of the value of the entire Growthfund real estate portfolio
Launch of a pilot program for the fast-track valuation of 1000 properties owned by ETAD
Segmentation of the portfolio based on the findings of the pilot program
Formulation of a customized plan for each property category
Ultimate goal of creating a clear asset file and updating the processes of maturation and exploitation

23 Regional Airports - Commencement of process:

Leveraging regional airports to support the development of local communities
Commencement of the tender for the International Airport of Kalamata
Update of the study for the 22 Regional Airports

Corinth Canal Development:

Reopened for traffic in July 2022
Enhanced services (online ticketing, pedestrian walkways, fencing)
Strategic development plan for further exploitation of the canal
Preliminary feasibility study for the allocation of tourist/ports

New Model for Group Procurement:

Improving competitiveness and sustainable operational functioning of the Group
Developing capabilities to provide effective procurement services for the Group
Rationalizing procurement expenses
Formulating an action plan to improve costs and provided services

Sustainability as a lever for Growthfund’s portfolio transformation:

Sustainable development as a lever for Growthfund’s portfolio transformation: Our ambition, as the country’s Sovereign Wealth Fund, is to develop a world-class sustainability and ESG strategy, while implementing our role as an asset manager and responsible investor.

Measurement of the carbon footprint of all companies and creation of a transition plan towards low-carbon operations

Measurement of the impact on the national economy (GDP, gross value added, employment, public revenue, public debt).

Digital transformation initiatives

Customer and employee satisfaction surveys

New services for customers/citizens.

Key Performance Indicators (KPIs) of Public Enterprises

Customer Satisfaction Index

Employee Engagement Index

Trust Index

Digital Transformation Index

Decarbonization Index

Diversity & Inclusion Index