The combined market capitalization of the 25 wealthiest stakeholders on the Athens Stock Exchange (ATHEX) has surged to nearly €105 billion (over $11.5 billion), effectively placing 86.7 percent of the Greek market under the control of these financial heavyweights, according to data compiled by Greek finance daily Naftemboriki.
Despite the recent removal of Terna Energy from the billion-euro club, the total valuation of listed companies with market caps exceeding €1 billion (about $1.1 billion) now stands at €104.56 billion (approximately $115 billion), climbing back above the psychological threshold of €100 billion ($111 billion)—a level that had eluded the market until recently.
The billion-euro club in the Athens Stock Exchange
At present, five companies on ATHEX boast valuations of more than €7 billion ($7.7 billion), and nine companies exceed the €5 billion ($5.5 billion) mark. Collectively, these elite firms account for €73.4 billion ($81.5 billion) in capitalization, underscoring the dominance of a select few in the Greek financial landscape.
A notable trend is the continued strength of the banking sector. All major Greek banks are ranked among the most valuable publicly traded companies, contributing a combined €36.4 billion ($40.4 billion), or 30 percent of the total market cap.
The top contenders in the Athens Stock Exchange
Coca-Cola HBC leads the board with a market capitalization of €16.6 billion ($18.4 billion) even after a recent dip in share price. Trailing closely behind are banking giants Eurobank and the National Bank of Greece (ETE), valued at €9.46 billion ($10.5 billion) and €9.22 billion ($10.2 billion), respectively.
OPAP and OTE round out the top five each with valuations above €7 billion ($7.7 billion), while Piraeus Bank follows just behind at €6.8 billion ($7.55 billion).
Other billion-euro standouts include:
- METLEN – €6.03 billion
- Alpha Bank – €5.82 billion
- PPC – €5.11 billion
- Jumbo – €3.91 billion
Mid-Tier Momentum
In the mid-cap segment, strong trading activity is observed in the €2.5–€3 billion ($2.78 to $3.3 billion) range. Key players include:
- Titan Cement – €3.18 billion
- Athens International Airport (AIA) – €2.73 billion
- Bank of Cyprus – €2.73 billion
- Motor Oil – €2.49 billion
- Helleniq Energy – €2.39 billion
Just under the €2 billion mark ($2.2 billion), we find GEK TERNA (€1.96 billion) and Cenergy (€1.93 billion), while Prodea (€1.5 billion) and Viohalco (€1.48 billion) hold strong positions in the lower billion-euro bracket.
Emerging players and new entrants
On the banking front, Attica Bank (€1.24 billion) and Optima Bank (€1.17 billion) round out the sector’s presence in the billionaires’ circle. Close contenders like Lamda Development, Aegean Airlines, and Aktor continue to push toward that threshold.
A noteworthy newcomer is the Piraeus Port Authority (PPA), which has recently crossed the €1 billion valuation mark, officially entering the exclusive “€1B+” club.
Top 25 Most Valuable Companies on ATHEX (in Billion Euros)
Rank Company Valuation (€B)
1 Coca-Cola HBC 16.6
2 Eurobank 9.46
3 National Bank (ETE) 9.22
4 OPAP 7.29
5 OTE 7.09
6 Piraeus Bank 6.8
7 METLEN 6.03
8 Alpha Bank 5.82
9 PPC 5.11
10 Jumbo 3.91
11 Titan Cement 3.18
12 Athens Intl Airport 2.73
13 Bank of Cyprus 2.73
14 Motor Oil 2.49
15 Helleniq Energy 2.39
16 GEK TERNA 1.96
17 Cenergy 1.93
18 Prodea 1.5
19 Viohalco 1.48
20 Attica Bank 1.24
21 Optima Bank 1.17
22 Lamda Development 1.16
23 Aegean Airlines 1.14
24 Aktor 1.07
25 Piraeus Port Auth. 1.06
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