Hellenic Cables is a Greek-owned company working to become a major international presence in the cable industry.
“We started as a moderate, local company, and have transformed to become a very important player in the global market,” says Georgios Karakostas, Operations Senior Director Onshore at Hellenic Cables.
The company finished last year with approximately 1 billion euros in sales and the best year-ever record of EBITDA among its extremely strong financial results. When we speak with Karakostas, it is clear he is proud of these results which are coming by extensive teamwork, but he is equally clear that it is Greek talent that made this possible.
“We are employing a lot of Greek- highly educated engineers and technicians and work hard to participate in the brain re-gain that Greece has worked towards for the last few years,” Karakostas says.
Like many businesses in the Greek communications sector, Hellenic Cables has learned to prize its talent following the exodus of trained professionals the country has experienced in the aftermath of the financial crises of 2015 and 2016.
“We are a company that continuously advances our capabilities and tech expertise with efficiency and value delivery, taking care of our stakeholders and people,” Karakostas tells us. “We are passionate about excellence, valuing the health and safety of our people while acting with integrity and accountability.”
The company is targeting sustainable growth through a rigorous and ambitious expansion strategy.
“We are working to be established as a key global player through a very selective product portfolio that focuses on high-value products,” says Karakostas. “We offer low, medium, and high voltage cables for on-shore and off-shore applications, with a selective, focused approach on high value-added products, and this is the path we want to grow our business and build our product portfolio.
A Post-Crisis Outlook
The Greek financial crisis was a serious challenge for many businesses in the country, and Hellenic Cables was no exception. Finding the capital required to operate the company was a challenge, but one that Karakostas is proud to say Hellenic Cables passed with flying colours.
“This company was one of the top examples of best practice,” he recalls. “The company was kept alive and continued to do business in a very tough economic environment. We not only continued to deliver but grew in a global context as a business at the same time in the most adverse economic environment for Greek companies.”
With over 70 years of experience, and its growing emphasis on the export market, Hellenic Cables is continuing to develop value-added products that will meet the needs of its customers on a global level. This continuous process of development and improvement in its products and services is fuelled by an emphasis on building up its human resources and creating value for the company’s shareholders and partners as well as its clients and employees.
Ultimately, Hellenic Cables want to improve the end consumers’ quality of life through reliable, safe products manufactured with the latest advanced technology in a way that does not harm people or the environment.
Attracting New and Old Talent
Most of all, Hellenic Cables needs new workers, new staff, and critically, new engineers, and this is not just because of Greece’s brain drain.
“Over the last five years we have doubled our sales and revenue, as well as investing significant amounts in growing and specializing,” Karakostas tells us. “We are trying to attract young people, but also senior staff from Greece and abroad.”
Hellenic Cables can attract people of the appropriate calibre thanks to its excellent reputation in the industry and market. Anyone looking at Hellenic Cables sees a company that for the last years has been growing continuously, creating just the sort of environment that newcomers want to be a part of.
“We are working intensively to regain Greek people from abroad, but we are also being approached by applicants of other nationalities who have seen that growth and want to be a part of it and our vision,” Karakostas says. “Our activities are not just local, they are global, so we need people everywhere. Our reputation for the way we treat our people and the efforts we have gone to regain Greek talent abroad, combined with the incentives we provide, all make for a very attractive package.”
It is a package that includes competitive compensation and opportunities for personal development and advancement within the company, but also an atmosphere and a team that people enjoy being a part of. Beneath all of that, it is clear that Hellenic Cables values its people.
“The health and safety of our people is our priority,” Karakostas says. “We promote operational excellence, running programs together with specialised experts from the field to improve our efficiency while being in full compliance with ESG targets.”
By adhering to these values and goals, Hellenic Cables is hoping to not only add to the Greek economy, but to improve its own standing as an international player.
“Our vision is to offer solutions and be an important player in the energy transmission infrastructure sector,” Karakostas explains. “We are a global player with a sustainable future, and we are continuously advancing our capabilities and expertise for our stakeholders and people.”
Looking forward, Hellenic Cables has extensive plans in place in terms of footprint expansion and optimisation, alongside its focus on high-added-value products.
“The future for Hellenic Cables is extremely bright. We are becoming a success story paradigm for the recovery of the Greek economy,” Karakostas tells us. “All the efforts we are making today are part of a strategic plan to build a dynamic and sustainable company that can participate as a major contributor to the global green energy transition.”
