Salary increases of 9% for 2024 and 7% + 7% for 2025 and 2026 are planned in the new three-year collective labor agreement signed by the ADMIE administration with GENOP/DEI-KHE and workers’ unions front line.

The agreement was signed on behalf of the operator by President and CEO Manos Manousakis, and on behalf of GENOP/DEI-KHE by President Antonis Karras and Secretary General Kostas Maniatis.

As highlighted in the related announcement:

The third consecutive Collective Labor Agreement signed by ADMIE since the change in its shareholding ensures significant salary increases and establishes a series of benefits and compensation for all employees.

Concretely, the new agreement provides for salary increases of 9% for 2024, for a total amount of 4 million euros, with retroactive effect from January 1. Furthermore, new increases of 7% in salary scales are planned from January 1, 2025. These increases cover and exceed the period of high inflation which preceded. Furthermore, increases of 7% are planned from January 1, 2026.

Among other things, new special holidays are incorporated on the basis of legislative provisions and all special benefits and allowances agreed in previous collective labor agreements are codified.

Upon signing the new agreement, ADMIE President and CEO, Manos Manousakis, said: “The signing of the new collective labor agreement demonstrates the will of the company’s two main shareholders in favor of peace and of work safety. In response to the new conditions and the increase in the cost of living, with the new agreement we protect labor rights and guarantee significantly higher salary increases than previous collective agreements. The new agreement also incorporates key innovations, such as the Gender Equality Policy, through which we will address these crucial issues in a comprehensive manner. As management, we fully recognize that it is the employees who will achieve the transformation of ADMIE, which is why we will continue to work for the continuous improvement of working conditions. We also express our gratitude to the negotiating committees of GENOP/DEI-KHE and ADMIE for this very positive outcome.

Referring to the digitalization plan for the maintenance of ADMIE’s transport system, Mr. Manousakis clarified that labor rights will not be affected by the technological advances that must be adopted for the company to maintain its leading role in the international energy market. “We will move to a new approach to maintaining the system without job losses or salary cuts, using our human resources more efficiently and smarter,” he noted.

GENOP/DEI-KHE President Antonis Karras said: “It is an honor for me to be at ADMIE to sign another collective labor agreement, which remains a goal for many organizations and public companies . The new collective agreement is perhaps the best we have signed in the last 10 years, further improving on all previous agreements. This takes into account that ADMIE is today a continuously growing company, much larger than in the past, and which plays an active role in the Balkans and the Eastern Mediterranean. Congratulations to the management and employees who support the company in the implementation of all these major energy projects.